Vietnamplus

A seminar seeking measures to help small- and medium-sized enterprises (SMEs) start their business operations took place in Hanoi on April 5.

The Ministry of Planning and Investment (MPI) held a workshop in Hanoi on September 19 to provide updates on the Law on Support for Small- and Medium-sized Enterprises and its enforcement in order to solve some of the issues that have arisen during its implementation.

Vietnamese Prime Minister Nguyen Xuan Phuc had a meeting with his Thai counterpart Prayuth Chan-o-cha on the sidelines of the eighth Ayeyawady-Chao Phraya-Mekong Economic Cooperation Strategy Summit (ACMECS 8) in Bangkok, Thailand, on June 15.

Despite strong growth, investment into innovative start-ups in Vietnam remains relatively modest compared to the region and the world.

Vietnam totalled over 105,000 nationwide newly established companies in the first ten months of the year, a year-on-year increase of 14.6 percent, according to the Enterprise Development Agency under the Ministry of Planning and Investment.

Creating encouraging polices and a clear legal system is crucial to attracting investment to innovative start-ups, according to a Ministry of Planning and Investment (MPI) official.

As many as 93,967 new enterprises were set up in the first nine months of this year with total capital of over 902.6 trillion VND (39.7 billion USD), a year-on-year rise of 15.4 percent and 43.5 percent, respectively.

A recent survey by the Vietnam Private Sector Forum has shown that the confidence of private business executives keeps improving.

A seminar on the draft Law on Supporting Small- and Medium-sized Enterprises (SMEs) from the view of the business community took place in Hanoi on July 11.

The law to support small and medium – sized enterprises (SMEs) will help generate over 19 billion USD in taxes, according to an impact assessment by economic expert Le Duy Binh.

Usage of business development services (BDS) is low among entrepreneurs in Vietnam as about 60-80 percent of firms lack awareness of BDS or are aware but do not use the services.

All supporting policies for small-and medium-sized enterprises (SMEs), which account for more than 95 percent of the total Vietnamese enterprises, should be included under one law.