VCCI: Law on Supporting SMEs ineffective

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.