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VINASME 20th anniversary and strategic expansion

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2026-08-25 16:24 UTC → 2026-08-26 03:26 UTC · added ~~removed~~

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 ~~further urged~~ 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, describing the sector as a “nursery” for larger corporations.~~ 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.

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