Vietnam joined the World Trade Organization (WTO) in 2007, there is an only Business Laws system for both local and foreigner investors to do business in Vietnam, deals with the establishment, organization, restructuring, dissolution, and relevant activities of enterprises, including limited liability companies, joint-stock companies, partnerships, sole proprietorships, and groups of enterprises. Up to 96% of businesses registered in Vietnam are, because of the important role of small and medium-sized enterprises, the same with many other countries, Vietnam has focused on encouraging this type of business to grow, especially since 2018 with the Law for small and medium-sized businesses that provide regulations on principles, contents, and resources of assistance for small and medium-sized enterprises.
SPECIAL ASSISTANCE FOR SMALL AND MEDIUM-SIZED ENTERPRISES IN VIETNAM
- Assistance in access to credit.
- Credit guarantee funds for small and medium-sized enterprises.
- The assistance in tax and accounting regimes.
- Assistance in production areas.
- Assistance in terms of technologies, assistance for incubators, technical establishments and co-space.
- Assistance in expansion into markets.
- Assistance in access to information, consultancy, and legal issues.
- Assistance in developing human resources.
- Assistance for SMEs in conversion from household business to SMEs.
- Assistance for startups.
- Investment in startups.
- The assistance for small and medium-sized enterprises joining business clusters and value chains.
As a few business consultants who have been familiar with and understood the local business legal system prior to Vietnam joined the WTO, VIVA has been supporting hundreds of clients in business management and apply these specific preferential policies in an exclusive and efficient manner.
