Tag: SMEs

Deputy Prime Minister Nguyen Chi Dung proposed the Korea Federation of Small and Medium Business (KBIZ) boost connections between South Korean’s and Vietnam’s SMEs...

Women-owned SMEs account for 20 per cent of the country’s total.

It is also necessary to actively maintain overall demand growth, ensure sustainable economic growth, and focus more on overall supply.

Ceremony to be held on December 25 to honor 150 of the best enterprises in the capital.

Two to launch digital financing via MISA Lending Platform.

Only 25% of SMEs can access bank loans.

The Hanoi People’s Committee has issued a plan called “Supporting digital transformation for SMEs in the 2021-2025 period”, under which it will spend over VND300 billion ($12.6 million) on supporting digital transformation efforts at 90,000 small and medium-sized enterprises (SMEs) and new businesses. The plan sets out six tasks and solutions, including training in digital transformation and human resources development for SMEs.

According to the Ministry of Information and Communications, as of August 19, the SMEdx Program, which supports small and medium-sized enterprises (SMEs) with digital transformation, had about 379,865 such enterprises accessing and experiencing “Make in Vietnam” digital platforms.

The 2021 Provincial Competitiveness Index (PCI) survey from the Vietnam Chamber of Commerce and Industry (VCCI) shows that while the Law on Supporting SMEs (small and medium-sized enterprises) has been in place for more than four years, less than 8 per cent of such enterprises have actually received support, while 51.3 per cent are unaware the Law exists. Vietnam currently has 1.7 million micro and small enterprises, which is expected to increase to 2.4 million by 2030.

Vietnamese authorities will do more to support the digital transformation of small and medium-sized enterprises.

Vietnam’s e-commerce market is posting annual average growth of 17 per cent and by 2025 will reach $57 billion. With more than 97 per cent of enterprises being of micro, small, or medium scale, however, local players still find it difficult to grasp the opportunities on offer. The greatest challenge is a lack of capital to invest in information technology infrastructure.

In order to support small and medium-sized enterprises (SMEs), in addition to mechanisms to help them access capital and lower interest rates to restore production and business, it is necessary to boost science, technology, and innovation, applying digital technology in their development, the “Strengthening financial solutions and digital transactions to support the business community, creating a driving force for socio-economic development in 2022” forum heard.

The Digital Transformation Framework for SMEs was officially announced on December 2 at a workshop on digital transformation for small and medium-sized enterprises (SMEs). The Framework will provide specific instructions for businesses of each size and in each field on the road to digital transformation.

The pandemic created unprecedented difficulties for small and medium-sized enterprises (SMEs) around Vietnam but also encouraged them to move forward with implementing digital transformation. This now represents an opportunity for businesses to progress further, experts and business insiders told the recent “Post-crisis innovation - Breakthrough opportunities for SMEs” online discussion.

The difficulties posed by Covid-19 have almost exceeded the tolerance of many small and medium-sized enterprises (SMEs) in Ho Chi Minh City. Some 5,000 signatures have been collected for a petition to the Prime Minister and ministers seeking assistance in tackling the difficulties. SMEs account for 97.8 per cent of all enterprises in Vietnam.

Demand for software products and services is increasing in Vietnam, with the pandemic changing the way businesses operate. According to the Vietnam IT Landscape 2020 report, Base.vn is the most prominent name in the country’s Software as a Service (SaaS) market. After cooperating with Base.vn in May, FPT said its Saas model was perfect for the corporation to penetrate deeper into the market for technological solutions for small and medium-sized enterprises (SMEs).

The Vietnam Posts and Telecommunications Group (VNPT) has launched the first comprehensive digital transformation platform in Vietnam for SMEs, called OneSME, which provides digital products and services online. Businesses can easily find services and digital solutions that suit their needs.