# VINASME 20th anniversary and strategic expansion > Live situation record from CLSTR: https://clstr.news/situations/vinasme-20th-anniversary-and-strategic-expansion > Updated: 2026-08-22T08:25:58.000Z. Sources: 20. Developments: 2. The Vietnam Association of Small and Medium Enterprises (VINASME) marked its 20th anniversary in Hanoi, celebrating its growth from 300 members in 2005 to a network of over 65,000 members across 34 provinces and cities. During the ceremony, Prime Minister Lê Minh Hưng presented the association with the First-Class Labor Order to recognize its contributions to national socio-economic development. Chairman Nguyễn Văn Thân, a Member of the National Assembly, emphasized the association’s role as a “strategic bridge between businesses and the government,” noting that the SME sector has become a vital driver of economic growth and integration. Prime Minister Lê Minh Hưng highlighted that while SMEs account for nearly 98% of the country's businesses, they remain “large in number but not strong in capacity.” He urged enterprises to “proactively upgrade themselves” by investing in technology, management, and human resources to integrate into global value chains. To support digital transformation, VINASME launched the VINASME Digital Platform. Developed with participation from AgriS and MSM, the platform is designed to create an ecosystem linking the government, the association, and businesses by providing a centralized touchpoint for policy information, consulting, technological solutions, and trade opportunities. To further its strategic expansion, the association signed memorandums of understanding with financial institutions including BIDV, BVBank, MBBank, ACB, and UOB to expand access to capital. Additionally, a partnership with the Vietnam - Australia Experts and Intellectuals Association (VASEA) was established to assist Vietnamese businesses in accessing Australian expertise, technology, and markets. The Prime Minister also highlighted upcoming government support, noting that from January 1, 2026, the revenue threshold for VAT and personal income tax exemptions for individual businesses will increase from 500 million to 1 billion VND per year. ## Claims - Vietnam's digital economy represented 14.02% of GDP in 2025, equivalent to 72.1 billion USD. (disputed) - Foreign direct investment in Vietnam reached 38.06 billion USD in the first seven months of 2026. (disputed) - Prime Minister Le Minh Hung stated that small and medium-sized enterprises (SMEs) must serve as a foundation and continuous replenishment for large enterprises. (corroborated by 3 sources) - Small and medium-sized enterprises (SMEs) account for nearly 98% of all active businesses in Vietnam. (corroborated by 2 sources) - VINASME has grown to over 65,000 members across 34 provinces and cities. (corroborated by 2 sources) - The trade balance for the first 15 days of August 2026 recorded a deficit of approximately $1.5 billion. (corroborated by 2 sources) - Yuanta predicts Vietnam's electricity consumption will reach approximately 510 TWh by 2030. (single source) - The Ministry of Construction proposed four major railway projects for foreign direct investment between 2026 and 2030. (single source) - The four proposed railway projects have an estimated total investment of over 445 trillion VND (approximately 17 billion USD). (single source) - The digital economy is targeted to account for at least 30% of Vietnam's GDP by 2030. (single source) - Vietnam aims to save 8-10% of total final energy consumption by 2030. (single source) ## Timeline ### 2026-08-22: VINASME to receive First-Class Labor Order on 20th anniversary VINASME celebrates 20 years by receiving the First-Class Labor Order, shifting focus toward connecting SMEs with capital, technology, and global supply chains. 2 sources. https://clstr.news/cluster/vinasme-to-receive-first-class-labor-order-on-20th-anniversary ### 2026-08-22: Vietnam economy driven by high-tech FDI and digital growth Vietnam sees a surge in high-tech FDI, reaching $38.06 billion in early 2026, alongside major proposed railway and AI infrastructure projects to bolster its digital economy and supply chain position. 20 sources. https://clstr.news/cluster/vinasme-receives-first-class-labor-order-at-20th-anniversary --- Cite as: VINASME 20th anniversary and strategic expansion. CLSTR, https://clstr.news/situations/vinasme-20th-anniversary-and-strategic-expansion