How Vietnam Support Start-up Company in Vietnam?
Start-up company is a topic that is receiving much attention in
Vietnam, especially in the context of the country’s strong integration with the
world economy. Starting a business is expected to create economic growth, make
a positive contribution to socio-economic development. From start-up ideas
gradually appears startup businesses in Vietnam. Every year,
Vietnam has hundreds of new businesses established, in which the number of
small and medium enterprises account for the majority. Because they are small
and medium-sized enterprises, it is inevitable to face great competitive
pressure from large traditional enterprises as well as competitors.
The identification of small and medium enterprises is the basis
for the State to have supportive policies to help enterprises face competitive
pressure in the market. Criteria to determine small and medium enterprises
include: field of operation, average number of employees participating in
social insurance per year, total revenue or total capital of the enterprise.
Firstly, micro-enterprise in the field of agriculture, forestry,
aquaculture; industry and construction that has an average annual number of
employees who participate in social insurance not exceeding 10 people and the
total revenue in the year not exceeding 3 billion VND or the total capital of
the year is not more than 3 billion VND. Micro enterprises in the field of
commerce and services employing no more than 10 employees per year on average
with social insurance contributions and total annual revenue is not more than
10 billion VND or the year’s total capital is not more than 3 billion VND.
Second, small enterprise in the field of agriculture, forestry,
aquaculture; industry and construction that has an average annual number of
employees who participate in social insurance not exceeding 100 people, total
revenue in the year not exceeding 50 billion VND or total capital of the year
not exceeding 20 billion VND, except micro-enterprises. Small enterprises in
the field of commerce and service that have an average annual number of
employees who participate in social insurance no more than 50 employees total
revenue in the year is not more than 100 billion VND or total capital of the
year is not more than 30 billion VND, except micro enterprises.
Third, medium enterprise in the field of agriculture, forestry,
aquaculture; industry and construction that has an average annual number of
employees who participate in social insurance not exceeding 200 people, total
revenue in the year not exceeding 200 billion VND or total capital of the year
not exceeding 100 billion VND but not micro-enterprises and small enterprises.
Medium enterprises in the field of commerce and service that have an average
annual number of employees who participate in social insurance no more than 100
employees, total revenue in the year is not more than 300 billion VND or total
capital of the year is not more than 100 billion VND but not micro enterprises
and small enterprises.
Because there are a large number of enterprises in the Vietnamese
market, the State has introduced policies to support small and medium
enterprises such as technology support, information support, consulting
support, supporting human resource development, supporting small and medium enterprises
to transform from household businesses, small and medium enterprises to
innovative start-ups, small and medium enterprises joining industry clusters,
value chains. Small and medium enterprises play an increasingly important role
in the economic development of countries around the world. With the ability to
create business opportunities and effective jobs, this business model is
increasingly encouraged to develop and receive support from state agencies to
expand and develop this business model in Vietnam.
With highly professional staff and great experience in foreign
investment, ANT Lawyers would like to support you to prepare before setting up company in Vietnam.
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