First study of women-owned SMEs in Vietnam released

The Ministry of Planning and Investment (MPI) and the Asian Development Bank (ADB) released the first-ever study of women-owned small and medium-sized enterprises (SMEs) in Vietnam on January 23, the Nhan Dan (People) online newspaper has reported.

Entitled “Facilitating Entrepreneurship Growth by Lifting Barriers: A White Book on Women-owned Small- and Medium-Sized Enterprises in Vietnam”, the study was developed by the ADB in partnership with MPI’s Agency for Enterprise Development.

It analyzes the operational situation of SMEs owned by women in Vietnam and the barriers they face, and reviews the legal framework, including support policies, legal loopholes, and shortcomings in legal adaptation that have affected these businesses’ operation and growth.

The study also presents recommendations to help unleash the untapped potential of women-owned SMEs in Vietnam. These include establishing gender-disaggregated databases, incorporating women-owned SMEs more integrally into legislation like the Law on Gender Equality, exploring gender-specific measures to support implementation of the SME Support Law, and placing greater emphasis on knowledge dissemination and awareness-raising activities that will promote women entrepreneurship and women role models.

Deputy Minister of Planning and Investment Tran Duy Dong said SMEs account for 98 per cent of the country’s total enterprises, of which women-owned SMEs make up 20 per cent. These enterprises have played a vital role in job generation and improving incomes for workers, contributing to poverty reduction and economic growth.

During the 2021-2020, the number of women-owned businesses grew at an average rate of 2 per cent annually, higher than the average growth rate of the business sector.