Visa has recently announced a commitment to support 10 million small businesses across Asia Pacific, including Vietnam, in an effort to get local communities back to business in the wake of the COVID-19 pandemic.
Visa plans to provide support to 10 million Asia Pacific small businesses to overcome difficulties caused by the COVID-19 pandemic. (Photo courtesy Visa Vietnam)
Hanoi (VNA) - Visa has recently announced a commitment to support 10million small businesses across Asia Pacific, including Vietnam, in an effortto get local communities back to business in the wake of the COVID-19 pandemic.
The company has introduced a range of programmes and solutions to help smalland medium enterprises (SMEs) drive efficiency and sales by accepting andmaking payments digitally to meet increased demand for cashless payments bothonline and in-store.
Visa has also formed the Visa Economic Empowerment Institute (VEEI) focused oneconomic and societal issues, including pandemic challenges that SMEs face andclosing racial and gender opportunity gaps.
The 10 million pledge is part of a global programme that will see Visasupporting 50 million small businesses worldwide.
In Vietnam, to encourage consumers and small merchants to adopt digitalpayments in an easier and more convenient way, Visa has signed an MoU withNextPay to promote digital payment solutions via the Mobile Point-of-Sale(mPOS) with a goal of expanding to a community of 300,000 merchants by 2023.
Dang Tuyet Dung, Visa country manager for Vietnam and Laos, said: “At Visa, weare committed to advocating Visa’s global initiative to promote and strengthenthe position of small businesses. By supporting local SMEs, which account for98 percent of all enterprises in Vietnam and contribute approximately 40 percentof GDP, we are proud to be part of the worldwide effort to mitigate the impactof COVID-19, and spur continued economic growth at a time when communities needit most.”
In Asia Pacific, SMEs account for more than 90 percent of businesses and employ50 percent of the workforce./.
Vietnam is giving priority to developing the domestic market as the risk of COVID-19 gradually falls, Deputy Minister of Planning and Investment Tran Quoc Phuong said at a press conference after the regular Government meeting on May 5.
Banks are ready to seize business opportunities in the coming months as the COVID-19 pandemic has been basically controlled in Vietnam and domestic production and business are expected to accelerate soon.
The State Bank of Vietnam will consider simplifying lending procedures to help COVID-19-affected firms easily access preferential interest rate loans, SBV Deputy Governor Dao Minh Tu said.
A policy that may grant up to 30 percent tax exemption for small-to-medium-sized business (SMEs) to mitigate the adverse effects of COVID-19 was discussed by National Assembly deputies during a meeting in Hanoi on June 16.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Visa plans to provide support to 10 million Asia Pacific small businesses to overcome difficulties caused by the COVID-19 pandemic. (Photo courtesy Visa Vietnam) 
