Prime Minister Pham Minh Chinh yesterday signed Directive No. 10/CT-TTg on promoting the development of small and medium-sized enterprises.
In the Directive, the Prime Minister called for the swift, sustainable development of small and medium enterprises. The aim is to increase the number of SMEs, improve their quality, scale, and operational efficiency, and ensure they make vital contributions to the economy. Under the directive, the Government will strive to add at least 1 million more enterprises by 2030.
With a people-and-enterprise-centered approach, ministries and local administrations must take responsibility in resolving difficulties, providing proactive support and partnership, adhering to the principle of 'no excuses, no delays, no criminalization of economic and civil matters’.
The Prime Minister required a reduction of at least 30 percent in the processing time of administrative procedures, a minimum 30 percent decrease in compliance costs, and the abolition of no less than 30 percent of superfluous business conditions by the year 2025.
The State Bank of Vietnam, under the direction of the Government and the Prime Minister, must take decisive action to implement credit programs and policies that support enterprises. Priorities should include stabilizing interest rates, as well as proactively and flexibly operating monetary policies in an effective manner to build trust within enterprises.
Additionally, the State Bank should provide assistance to small and medium-sized enterprises in accessing financing and credit.
The Prime Minister has directed the Ministry of Finance to implement effective measures to enhance the lending activities of the Small and Medium Enterprise Development Fund, thereby establishing a viable channel for capital mobilization at reasonable costs for SMEs.
Additionally, the Ministry is tasked with streamlining processes, procedures, and documentation to facilitate tax incentives and expedite value-added tax refunds for businesses. Furthermore, research should be conducted on the application of post-audit methods to ensure that SMEs’ cash flow and business operations remain unaffected.
The Prime Minister also requested support for small and medium-sized enterprises to improve the quality of human resources and digital transformation.
