SMEs to benefit from State support policies

12:08 | 25/03/2018 Economy- Society

The Government recently issued Decree No. 39/2018/ND-CP which stipulates a number of support policies for small and medium-sized enterprises (SMEs), concerning information supply, consultation, human resource development, innovation, and participation in industrial linkages and value chains.

The SMEs converted from household businesses will be free from examination fees and first-time licensing fees as for conditional business lines

Specifically, SMEs will have open access to the information specified in clause 1, Article 14 of the Law on Support of SMEs on the national portal for support of SMEs, which is managed by the Ministry of Planning and Investment, and on the websites of ministries, ministry-level agencies, and provincial-level People’s Committees.

In an effort to help SMEs develop their human resources, the State budget will subsidise at least 50% of the total cost of a training course on entrepreneurship and business administration for SMEs. The trainees of SMEs in extremely disadvantaged socio-economic localities and women-owned SMEs are exempted from tuition fees for the training course.

The provincial-level People’s Committees will assign relevant units to provide free advice and instructions for household businesses registering to be developed into enterprises.

The SMEs transformed from household businesses will be exempted from the first-time business registration fee at business registration offices if they meet the necessary requirements. In addition, they will be allowed to publicize their first-time business registration on the national business registration portal.

The SMEs converted from household businesses will be free from examination fees and first-time licensing fees as for conditional business lines. They will also be exempt from business license fees for three years from the date on which they were first granted a business registration certificate.

The State also has many policies to support innovative SMEs, concerning intellectual property consultancy; exploitation and development of intellectual property; the observance of procedures on technical standards, measurement and quality; the pilot run and finalisation of new products and business models; the application and transfer of technologies; and trade promotion, among others.

Theo NDO