Support for small businesses in Vietnam

Support initiatives for small and medium enterprises in Vietnam have focused on both digital skill development and institutional advocacy.

The “Accelerating My Business” (AMB) project, a collaboration involving Visa and The Asia Foundation, recently concluded a three-year implementation. The program supported over 27,000 women-owned micro and small businesses by enhancing digital, financial, and management skills.

Complementing these developmental efforts, the Vietnam Association of Small and Medium Enterprises (VINASME) has provided long-term support for the sector. Marking 20 years of operation, the association has acted as a vital support system for members facing financial difficulties, such as managing cash flow pressures and negotiating with large clients.

To further its mission, VINASME has launched the VINASME Digital Platform, a centralized digital touchpoint designed to connect businesses with policy information, technology solutions, financial resources, and trade opportunities. Developed with participation from AgriS and technological implementation by MSM, the platform aims to foster an ecosystem linking the Government, the Association, and enterprises to enhance competitiveness through digitalization.

To expand financial and international reach, VINASME signed memorandums of understanding with several domestic and international financial institutions, including BIDV, BVBank, MBBank, ACB, and UOB. Notably, BVBank has launched a 2,500 billion VND preferential credit package for SMEs via the new platform. Additionally, a partnership with the Vietnam-Australia Association of Experts and Intellectuals (VASEA) was established to help Vietnamese SMEs access Australian expertise, investment, and markets.