WHAT HAPPENED
Vietnamese lawmakers are actively working on revising the Law on Support for Small and Medium-sized Enterprises (SMEs), a topic that has sparked lively discussions among businesses and the expert community. News from July 12, 2026, published by VnEconomy EN, highlights persistent calls for the development of more targeted and results-oriented policies. The core issue is that the current SME support system likely needs adaptation to better suit the diverse needs of companies at various stages of their development.
Experts and business representatives unanimously advocate for a differentiated approach that considers not only size but also the specifics of operations, industry sector, and growth stage of each enterprise. This signifies a shift away from universal support measures towards personalized solutions capable of maximizing the effectiveness of state investments and efforts. It is anticipated that the new law will include mechanisms allowing for more precise identification of pain points and potentials within different SME segments.
The revision of the law is expected to lead to the creation of a more flexible and adaptive legal framework, capable of promptly responding to changes in the economy and technological landscape. The primary goal is not merely to provide financial or administrative assistance but to foster sustainable growth, enhance competitiveness, and drive innovative development for Vietnamese SMEs at both national and international levels. This process reflects Vietnam's strategic ambition to strengthen its economic foundation by supporting a key sector.
WHAT THIS MEANS
For Russian online sellers and e-commerce entrepreneurs interested in entering or expanding their presence in the Vietnamese market, the upcoming changes in SME support legislation present both potential opportunities and challenges. Firstly, differentiated support for Vietnamese SMEs could significantly alter the competitive landscape. Stronger, more efficiently developing local companies may become formidable competitors in the domestic market, especially in niche segments previously dominated by foreign players. This will require Russian companies to conduct a deeper market analysis and potentially revise their positioning strategies.
Secondly, the new conditions could influence market entry costs and terms. If the government actively stimulates localization and the development of local production bases or service offerings, it might simplify the search for reliable partners for Russian e-commerce platforms keen on establishing local warehouses, logistics hubs, or even manufacturing facilities. Conversely, stricter requirements for local participation or privileges for Vietnamese companies could increase regulatory and operational costs for entirely foreign enterprises aiming to operate autonomously.
Thirdly, the initiative to revise the law opens new horizons for strategic partnership and localization. Targeted support for Vietnamese SMEs, particularly in digitalization, export, and innovation, makes them extremely attractive potential partners. Russian online sellers can consider collaborating with such companies to integrate into local supply chains, leverage their expertise in local specifics, and establish joint ventures, which could significantly mitigate risks and accelerate adaptation in a new market. For instance, joint development of logistics solutions or utilizing local platforms for product promotion could become a key success factor.
Ultimately, these changes underscore the growing maturity and strategic direction of the Vietnamese economy. It is critically important for Russian e-commerce entrepreneurs not only to monitor the progress of legislative reforms but also to actively research which specific sectors and types of SMEs will receive the most support. This will enable them to timely identify niches for beneficial partnerships, adapt their business models, and develop strategies that maximize the potential of Vietnam's updated SME ecosystem.
VIETSMART EXPERT COMMENTARY
The revision of Vietnam's SME Support Law is not merely an internal reform; it's a powerful signal to all international players, including Russian e-commerce entrepreneurs, that the business landscape in the country is set to change. As a Russian entrepreneur, we would begin with a deep dive into the details of the proposed changes as soon as they become public. The key question is: what specific criteria will be used to differentiate support? Will it be linked to export volume, innovation levels, utilization of local resources, or job creation in specific regions?
We would recommend actively seeking local consultants and analysts capable of providing up-to-date information on the legislative process and potential benefits. It's essential to proactively consider how your business model can be adapted to leverage potential incentives or to mitigate risks associated with strengthening local competitors. This is an ideal time to initiate negotiations with potential Vietnamese partners, especially those who have already proven themselves as fast-growing or innovative SMEs, as they are most likely to be the primary beneficiaries of the new programs.
CONCLUSIONS AND NEXT STEPS
- Legislation Monitoring: Closely track the progress of the SME Support Law revision. Study the final version as soon as it is published, focusing on specific support mechanisms, eligibility criteria, and target sectors.
- Strategic Partner Search: Intensify your search for Vietnamese SMEs that could become strong partners. Pay attention to companies in logistics, digital services, marketing, and manufacturing, especially those demonstrating double-digit growth or actively implementing innovations in 2025-2026.
- Competitive Environment Analysis: Conduct an in-depth analysis of the current and projected competitive landscape. Assess how the strengthening of local SMEs might impact your target market segment and what adjustments to your positioning strategy will be required.
- Localization Planning: Develop a plan for deep operational localization. This could include utilizing local supply chains, adapting your product line to Vietnamese consumer preferences, and establishing local teams or joint ventures for more effective interaction with the market and regulators.
- Business Model Adaptation: Be prepared to adapt your business model to comply with new regulatory conditions and leverage potential incentives that may be offered to Vietnamese SMEs or companies collaborating with them.
Source: VnEconomy EN — Business from July 12, 2026