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The Situation of Legal Framework on Supporting Small and Medium-Sized Enterprises (SMEs) in Vietnam

In: Contemporary Economic Issues in Asian Countries: Proceeding of CEIAC 2022, Volume 2

Author

Listed:
  • Dao Mong Diep

    (University of Law, Hue University)

  • Dao The Dong

    (University of Science, Hue University)

Abstract

The implementation of the Law on Supporting Small and Medium Enterprises of Vietnam in 2017 has helped the small and medium-sized enterprises (SMEs) sector to operate more effectively and mobilize social resources for investment development and contributes up to 45% to GDP, 31% to total budget revenue, and attracts more than 5 million workers, contributing to promoting national economic development, creating dynamism for the economy. However, the implementation of the Law on Enterprise Support and its policies and regulations still has certain shortcomings that affect the implementation of the law and the development of SMEs. These shortcomings and limitations must be overcome to promote the development of SMEs in the current period. The article analyzes and assesses the current status of the legal framework for supporting SMEs in Vietnam, recommending solutions to continue improving the legal corridor for supporting SMEs.

Suggested Citation

  • Dao Mong Diep & Dao The Dong, 2023. "The Situation of Legal Framework on Supporting Small and Medium-Sized Enterprises (SMEs) in Vietnam," Springer Books, in: An Thinh Nguyen & Thu Thuy Pham & Joon Song & Yen-Ling Lin & Manh Cuong Dong (ed.), Contemporary Economic Issues in Asian Countries: Proceeding of CEIAC 2022, Volume 2, pages 517-526, Springer.
    • Handle: RePEc:spr:sprchp:978-981-99-0490-7_30
    DOI: 10.1007/978-981-99-0490-7_30
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