The National Assembly (NA) Standing Committee on August 28 discussed the draft Law on the Development of Small and Medium-sized Enterprises (SMEs), which is set to replace the 2017 law.

Prime Minister Le Minh Hung has called on small and medium-sized enterprises (SMEs) to strengthen their capabilities, expand their scale and become a solid foundation and a steady pipeline for medium-sized and large businesses, contributing to the country’s growth targets.

Science, technology, innovation, and digital transformation have today become strategic imperatives directly linked to labour productivity, competitiveness, growth quality, and the economy's autonomy; within this context, the application of science, technology, and innovation by small and medium-sized enterprises (SMEs) plays a crucial role.

Although small and medium-sized enterprises (SMEs) account for 98% of all businesses, bank lending to the sector currently represents only around 19-20% of total outstanding credit in the economy. The Ministry of Finance has proposed a range of new measures in the draft revised Law on Support for Small and Medium-sized Enterprises to help the sector achieve faster and more sustainable growth.

The Agency for Private Enterprise and Cooperative Economic Development (APED) under the Ministry of Finance organised the forum entitled “Building a sustainable ecosystem to support and develop the private economy in 2026,” on June 6, aimed at helping private enterprises gain access to government policies on finance, technology application and transfer, innovation, and scientific and technological development.

As Viet Nam accelerates national digital transformation, ensuring cyber safety and security for small and medium-sized enterprises has become an urgent requirement.