Supporting small and medium enterprises: Need to be focused and selective

Support for small and medium-sized enterprises needs to be focused, selective, and key in the direction of transforming growth models and restructuring the economy.

Presenting the Report on explanation, acceptance and revision of the draft Law on support for small and medium enterprises to the National Assembly this afternoon (May 23), Member of the National Assembly Standing Committee, Chairman of the National Assembly Economic Committee Vu Hong Thanh stated that there were opinions suggesting that the draft Law should be developed in accordance with the Party and State's policies on renewing the growth model and restructuring the economy.

Vu Hong Thanh -

Mr. Vu Hong Thanh emphasized that the National Assembly Standing Committee accepted and expressed in Chapter II of the draft Law on Support for Small and Medium Enterprises (SMEs). Accordingly, the provisions on support contents include: General support for SMEs is essential support for all SMEs such as support in accessing capital from banks, taxes, renting production premises in industrial parks and clusters, training, information, consulting, legal...

In addition, the Chairman of the National Assembly's Economic Committee said that the draft Law supports a number of key, selective subjects in the direction of transforming the growth model and restructuring the economy, contributing to promoting growth, improving competitiveness and autonomy of the economy, only limited to SMEs established on the basis of conversion from business households, innovative start-up SMEs and SMEs participating in industry clusters and value chains.

Also this afternoon, National Assembly deputies discussed in the hall a number of controversial contents of the draft Law on Support for Small and Medium Enterprises.

It is known that during the time of synthesizing opinions of businesses, the business community assessed that: The Draft Law on Support for Small and Medium Enterprises has been successful in identifying measures to support small and medium enterprises in 7 general support measures (including: credit, tax, premises, technology, market, information, human resources) and 3 groups of targeted support measures (including: business household conversion, creative startups and linkage chains). However, businesses also said that this draft does not have specific regulations on principles, subjects, methods and conditions for implementing these measures.

According to statistics from the Vietnam Association of Small and Medium Enterprises, the number of small and medium enterprises in Vietnam accounts for 97% of the total number of enterprises, employs more than 50% of the workforce, contributes more than 40% of GDP, and 31% to the total budget revenue./.

According to VOV