Policy update
Minh Anh
New regulations effective October 2021 Supporting startup SMEs; support policy for employees and employers affected by the Covid-19 pandemic; and classification of assets, risk provisioning levels are new regulations taking effect this October.
The government’s Decree No. 80/2021/ND-CP dated 26 August 2021 on the implementation of a number of articles of the Law on Support for Small and Medium-Sized Enterprises. The Decree takes effect on 15 October 2021. According to the Decree, a small or medium-sized enterprise shall be provided with the following support on technologies: support up to 50 percent of the value of the appropriate technology transfer consultancy contract, but not exceeding VND100 million (USD4350)/contract
per year; support up to 50 percent of the value of the contract for consulting digital transformation solutions for enterprises in terms of business, administration, production and technology processes and transformation of business model, but not exceeding VND50 million/contract per year and VND100 million/contract per year, respectively; etc. Concurrently, a small or mediumsized enterprise shall be provided with support to cover 100 percent of total expenses of a training course on business startup and up to 70 percent of total expenses of a training course on corporate governance for small-
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and medium-sized enterprises; be exempted from fees for accessing and attending online lectures available on the online training systems of the Ministry of Planning and Investment and provincial-level People’s Committees; etc. Besides, innovative startup SMEs, SMEs participating in industrial linkage clusters and value chains shall be provided with interest rate support by the state budget when borrowing loans for medium or long term at credit institutions to carry out the production and business plans and projects.
