Prime Minister: Strive to have at least 1 million more businesses by 2030

(Dan Tri) - Prime Minister Pham Minh Chinh requested drastic implementation of the goal of developing small and medium-sized enterprises (SMEs) quickly and sustainably, striving to have at least 1 million more businesses by 2030.

Create maximum conditions for businesses to break through

Prime Minister Pham Minh Chinh has just signed and issued Directive No. 10 on promoting the development of small and medium enterprises (SMEs).

The private economic sector, focusing on SMEs, accounting for about 98% of the total number of enterprises operating in the economy, always plays a very important role in socio-economic development.

Specifically, the private economic sector contributes more than 50% of GDP, 30% of total state budget revenue, creates more than 40 million jobs, accounting for more than 82% of the total workforce in the economy.

However, SMEs still face many difficulties and challenges to develop quickly and sustainably.

In order to remove barriers and difficulties and create maximum conditions for SMEs to make breakthroughs, the Prime Minister requested ministries, agencies and localities to continue to resolutely, synchronously and effectively implement the proposed viewpoints, orientations, goals, tasks and solutions.

Thủ tướng: Phấn đấu đến năm 2030 có thêm ít nhất 1 triệu doanh nghiệp - 1 — The Prime Minister requested to promote investment from economic groups and large enterprises to create driving force and stimulate investment from small and medium enterprises (Photo: VGP).

Strive to have at least 1 million more businesses by 2030

The Head of Government requested drastic implementation of the goal of developing SMEs quickly and sustainably, increasing their quantity, quality, scale, operational efficiency and making important contributions to the economy. Strive to have at least 1 million more enterprises by 2030.

Relevant ministries, branches and localities must uphold their sense of responsibility, take people and businesses as the center, consider the difficulties of people and businesses as their own difficulties to proactively support and accompany them.

According to the Directive, one of the key tasks is to perfect policies and laws, reform administrative procedures, and create a favorable and equal investment and business environment for small and medium enterprises.

Specifically, ministries, branches and localities need to cut at least 30% of administrative procedure processing time; reduce compliance costs by at least 30%; and abolish at least 30% of unnecessary business conditions.

The Prime Minister also requested to promote investment from economic groups, state-owned corporations, and large enterprises to create momentum to lead, spread, and activate investment from small and medium enterprises.

The Head of Government assigned the Ministry of Finance to find effective solutions to promote lending activities of the SME Development Fund to create a channel for capital mobilization at reasonable costs. In addition, thoroughly simplify the process, procedures, and documents to support tax incentives and value-added tax refunds for businesses; study and apply post-audit methods so that SMEs are not affected in terms of cash flow and business operations.

The State Bank of Vietnam also needs to drastically implement credit programs and policies to create trust for businesses; promote the implementation of programs and solutions to support SMEs in innovation, digital transformation, green transformation, development of new economic models, emerging industries and fields...

The Prime Minister also requested to further promote the role of the Vietnam Association of Small and Medium Enterprises and business associations and industry associations.

Associations need to be proactive, active and improve the effectiveness of their role in connecting the business community, promoting the representation of member businesses in participating in giving opinions, building and criticizing policies; representing and protecting members' rights in disputes...

At the same time, associations are also required to promote activities and improve the quality of support for SME development; develop a team of entrepreneurs; pioneer in promoting the building of Vietnamese business culture; strengthen connections and improve the effectiveness of international integration... Thereby, building a united and powerful business community for a strong Vietnam.

(Dan Tri) - Prime Minister Pham Minh Chinh requested drastic implementation of the goal of developing small and medium-sized enterprises (SMEs) quickly and sustainably, striving to have at least 1 million more businesses by 2030.

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