{
  "id": 3256497,
  "title": "SMEs must become solid foundation, steady pipeline for larger enterprises",
  "url": "https://urgent.news/2026/08/25/smes-must-become-solid-foundation-steady-pipeline-for-larger",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-25T11:59:16.000Z",
  "source": {
    "name": "SGGP English Edition Business",
    "slug": "sggp-english-edition-business",
    "url": "https://en.sggp.org.vn/smes-must-become-solid-foundation-steady-pipeline-for-larger-enterprises-post129195.html"
  },
  "original_language": "en",
  "account": "Vietnam's Prime Minister, Le Minh Hung, emphasized the crucial role small and medium-sized enterprises (SMEs) play as the foundation for the nation's economic growth, urging them to elevate their ambitions and capabilities. During a ceremony in Hanoi marking the 20th anniversary of the Vietnam Association of Small and Medium Enterprises (VINASME), the Prime Minister presented the association with the first-class Labor Order, recognizing its significant contributions to economic development, social welfare, and humanitarian efforts.\n\nHung stressed that Vietnam aims for double-digit economic growth by 2030 and 2045, positioning SMEs as a steady pipeline for larger businesses. To achieve this, he highlighted the need for SMEs to adopt science and technology, innovation, digital transformation, high-quality human resources, and green practices as key drivers of productivity.\n\nThe government pledged to improve the business environment by streamlining regulations, simplifying administrative procedures, and reducing compliance costs, specifically in areas like taxation, customs, and land-related processes. The Ministry of Finance was tasked with promptly issuing detailed regulations for the amended Investment Law, set to be considered at the October session. Furthermore, the government aimed to unlock and diversify resources for SMEs, including capital, land, and production facilities, while facilitating their access to infrastructure, innovation hubs, and shared support services.\n\nThe State Bank of Vietnam was directed to encourage credit institutions to develop products tailored to different business groups and sectors, utilize data and technology in credit assessment, and expedite processing times to enhance SME access to finance. Additionally, Hung called for a significant shift towards science, technology, innovation, digital transformation, and green transition, urging large and foreign-invested enterprises to increase domestic sourcing, transfer technology, and train local businesses to join supply chains.\n\nVINASME, now representing over 65,000 members across 34 provinces and cities through its digital platform, plays a pivotal role in bridging the gap between the government and businesses. The association facilitates connections among SMEs and larger enterprises, foreign investors, banks, investment funds, research institutions, universities, and international organizations. The Prime Minister affirmed the government's commitment to supporting businesses, protecting their rights, maintaining a stable investment environment, and collaborating with the business community to overcome obstacles and expand development opportunities.",
  "summary": "PM Le Minh Hung said SMEs must nurture greater ambitions and proactively upgrade themselves, advising them to make science and technology, innovation, digital and green transformation, and high-quality human resources key drivers of productivity.",
  "key_points": [
    "Vietnam's Prime Minister Le Minh Hung highlights SMEs as economic growth foundation.",
    "Government pledges to streamline regulations and reduce compliance costs for SMEs.",
    "VINASME represents 65,000 SME members across Vietnam, bridging government-business gap."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}