February 22, 2024

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Vietnam Department of Enterprise Development Launches Information Portal for SMEs

The Department of Enterprise Development, under the Ministry of Planning and Investment, has launched a portal to provide information and support services to businesses in Vietnam, especially small and medium-sized enterprises (SMEs).

According to a report, the portal is a modern and intelligent digital platform that offers timely, accurate, and high-value information about the governmental mechanisms, initiatives, programmes, and policies created to support businesses. Local and international business communities can access training documents and business guides on the website. It enables users to easily search, participate in, and benefit from these business support packages.

Additionally, the portal will allow businesses to connect with the government or other businesses, and SMEs with leading firms or with FDI enterprises. It will also link Vietnamese businesses and the international community through the ASEAN SMEs gateway (ASEAN Access), creating opportunities for Vietnamese enterprises to expand into other markets in Asia.

The portal is built on an open platform and the government is inviting stakeholders to participate in creating a smooth, multi-dimensional information system. The portal will be a source of research and reports on various topics from leading agencies, research units, and consulting organisations, helping local businesses quickly and easily access relevant information about the industry and market.

A network of Vietnamese consultants from fields like science and technology, finance and planning, and investment and law are ready to support and answer any user questions. The portal will regularly update training materials and guides compiled by leading experts to spread new business knowledge, contributing to raising awareness and enhancing skills and business experience in the Vietnamese business community.

Earlier this year, a government official stated that the country’s gross domestic product (GDP) could surge by US$30 billion if the country successfully digitally transforms its SMEs. Firms engaging in digital transformation have reported higher productivity and profits two-fold compared to their peers. Statistics showed that US$3.1 trillion will be added to Asia-Pacific’s GDP by 2024 if digital transformation for SMEs is accelerated.

The Ministry of Information and Communications (MIC) has also announced it would work with localities nationwide to carry out a programme to bolster digital transformation among SMEs this year and set up a consultation network for the digital economy at the district level. Under the programme, the MIC will evaluate the digital transformation rate of 100,000 firms across the country based on the Digital Business Indicators (DBI). The assessment is projected to help fine-tune specific action plans and step-up digital transformation among enterprises as well as digital economic development, OpenGov Asia reported.

As of April, there were around 785,000 SMEs in the country, accounting for nearly 98% of the total enterprises and contributing approximately 50% of gross domestic product (GDP). This year, MIC aims to increase the total quantity of digital technology businesses in Vietnam to 70,000. By 2025, it aims to have 100,000 digital technology firms, of which at least ten firms must be able to compete in global markets. MIC also wants to have 10 localities with revenues of over US$1 billion from ICT and 10-12 IT zones.


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