The Law on providing assistance for small and medium-sized enterprises was approved by the 14th National Assembly of Vietnam at its 3rd session on June 12, 2017 with notable contents as follows:
Article table of contents
Two new concepts of small and medium-sized enterprises (SMEs)
- “Women-owned SME” means an SME having one or more women owns at least 51% of its charter capital and at least a woman is the executive director of this enterprise.
- “Startup” is an SME that is established to implement its business ideas based on the exploitation of intellectual property, technology and new business models and is able to grow quickly.
Identify SMEs according to new criteria
An SME is either a micro-enterprise, small enterprise or medium-sized enterprise having the annual average number of employees who participate in social insurance is not greater than 200 and satisfying one of the following criteria:
- The total capital is not greater than 100 billion dong;
- The enterprise’s revenue of the previous year is not greater than 300 billion dong;
Micro-, small and medium-sized enterprises are identified according to each industry such as agriculture, forestry, aquaculture; industry and construction and trade and services. These regulations are different from the previous one, which is: Depending on the business line, determine what type of enterprise it is.
The Law on providing assistance for small and medium-sized enterprises of Vietnam officially takes effect from January 01, 2018.
.Medium.png)
.Medium.png)
.Medium.png)
.Medium.png)
