SME and Entrepreneurship Policy in Viet Nam
This publication presents the findings of the OECD review of SME and Entrepreneurship
Policy in Viet Nam. It offers an in-depth examination of the performance of small
and medium enterprises (SMEs) and entrepreneurship in Viet Nam, the quality of the
business environment, and national policies in support of new and small businesses.
The report shows that Viet Nam is one of the most globally integrated economies in
the world, building its solid growth performance on the attraction of foreign direct
investments and export promotion. Viet Nam’s business environment has considerably
improved in recent years, although important reforms are still needed in certain policy
areas. Viet Nam's SMEs contribute to national employment and national GDP proportionally
less than in the OECD area, although official statistics do not take into consideration
the large informal sector that mostly consists of self-employed people and micro-enterprises.
Viet Nam’s SME and entrepreneurship policies are relatively new, dating back to the
early 2000s. In this respect, the 2018 SME Support Law is an important milestone which
may help address some of the challenges that are holding back the development of a
more vigorous domestic enterprise sector. Key policy priorities in this regard, building
better business linkages between multinationals and local enterprises and stronger
business development services, are the subjects of two thematic chapters of the report.
Published on January 22, 2021
In series:OECD Studies on SMEs and Entrepreneurshipview more titles