Factors affecting SMEs’ development in Vietnam

Abstract

The enterprise's system, along with households and the government are the main factors in the production and consumption of the economy, which plays an extremely important role in the development of any country. Besides the large enterprises, which are often considered as the locomotives of the economy’s development, people are increasingly interested in a significant number of small and medium enterprises (SMEs) whose position and role has been confirmed through the actual economic development of many countries and economies. In Vietnam, the development of SMEs has been creating a driving force for economic growth and has become an important strategic direction in the country’s socio-economic development strategy. The article focuses on determining the factors affecting the development of small and medium-sized manufacturing enterprises in Vietnam. At the same time, the current paper evaluates factors affecting the development of these enterprises. The main factors expected to be focused on in the research include the level of production technology, government policies, raw materials, labor, management capacity, corporate social responsibility, green growth orientation, and global epidemics.