On August 25, in Hanoi, Prime Minister Le Minh Hung attended the 20th-anniversary ceremony of the Vietnam Association of Small and Medium Enterprises (VINASME), where the association received the First-Class Labor Order. Over the past two decades, VINASME has expanded from 300 to over 65,000 members, comprising 54 member associations across 34 provinces and cities.
SMEs need to grow in quality. The Prime Minister noted that SMEs currently account for nearly 98% of all active businesses, providing jobs, income, and livelihoods for nearly 6.5 million workers, while playing a crucial role in mobilizing resources and driving economic growth. However, the sector still faces limitations regarding management capacity, financial strength, workforce quality, technology, and the ability to deeply integrate into value chains. Access to capital, land, and development resources also remains challenging.
The Prime Minister emphasized that in the coming period, SMEs must "grow" in terms of quality, productivity, technology, management, and stature, becoming a foundation and a continuous source of replenishment for the ranks of medium and large enterprises.
Focus on technology, capital, and supply chain linkages. The Prime Minister called for continued improvements to the business and investment environment, the simplification of administrative procedures, the unlocking of capital flows, and the creation of more favorable conditions for enterprises to access land, production sites, and development resources. Concurrently, breakthroughs are needed in science, technology, innovation, digital transformation, and the green transition, turning technology into a driving force for boosting productivity, reducing costs, and expanding markets.
Fostering linkages between small and medium-sized enterprises (SMEs) and large corporations, foreign-invested enterprises (FDI), banks, research institutes, and universities has also been identified as a crucial solution for Vietnamese businesses to integrate more deeply into global supply chains and international markets. The guiding principle is: "A facilitating State – Connecting associations – Pioneering enterprises."
The Prime Minister urged VINASME to continue serving as a bridge between the State and the business community, supporting enterprises in enhancing their governance capacity, productivity, quality, and competitiveness. He called on SMEs to proactively restructure, improve transparency, adopt technology, build brands, and strengthen cooperation. Micro-enterprises should strive to become small enterprises; small enterprises should grow into medium-sized ones; and medium-sized enterprises should aspire to become large enterprises that expand into regional and global markets.
The message "A facilitating State – Connecting associations – Pioneering enterprises" serves as the overarching spirit intended to generate new momentum for the SME sector during the 2026–2030 period. As small and medium-sized enterprises (SMEs) play an increasingly vital role in the economy, SD Link—an investment consultancy—partners with businesses to help them stay updated on policies, identify opportunities, and determine suitable investment strategies, thereby enhancing competitiveness and expanding long-term growth potential.

Source: Government News Portal