The Law on Support for Small- and Medium-sized Enterprises (SME) took effect on January 1, 2018, but its programmes have not provided adequate coverage to make any big difference.
Hanoi (VNS/VNA) - The Law on Support for Small- and Medium-sized Enterprises(SME) took effect on January 1, 2018, but its programmes have not providedadequate coverage to make any big difference.
Accordingto the Vietnam Chamber of Commerce and Industry (VCCI), ten programmes havebeen implemented under the law, but fewer than eight percent of enterprisesenjoyed the benefits from the programmes.
Notably,only 7.34 percent got access to the SME Credit Guarantee Fund, 6.55 percent gotthe consultancies from state agencies, and 4.75 got the subsidies for rentalsin industrial parks, high-tech parks and industrial complexes.
Regardingother subsidies, just 6.17 percent were granted legal aid services subsidies,5.40 percent market information consultancy subsides, 6.83 percent trainingcourses subsidies and 5.39 percent vocational training subsidies.
Although80 percent of enterprises which managed to access the programmes saidprocedures were easy to follow, the figure does not capture those whonever applied. In fact, 51.3 percent were unaware of the programmes.
"Onthe bright side, over 80 percent of firms that accessed the relief programmessaid eligibility procedures were easy to complete. However, one note of cautionis that only firms completing the entire procedures gave theseassessments," said Dau Anh Tuan, Deputy Secretary-General of the VCCI.
Thelaw's low coverage has led to policy ineffectiveness and left many strugglingenterprises in the lurch.
Givennearly 35,700 enterprises had to temporarily cease their operationand 11,300 awaited dissolution in Q1/2022, the VCCI urged the authorities tostep up the programmes to expand their coverage, helping more SMEs back ontheir feet.
SMEsaccount for 98 percent of enterprises in Vietnam, 45 percent of thecountry's GDP and 31 percent of the state budget, with over 5 millionworkers on the payroll.
Thepandemic and the Russian-Ukraine conflict have put many SMEs at risk. They arestruggling to keep afloat, are not so optimistic about the long-term, and arein urgent need of support, according to the VCCI./.
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Illustrative photo (Source: VNA) 
