Vietnam SMEs triumph against new challenges

December 03, 2022 | 11:31

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Eighteen prominent Vietnamese SMEs have been honoured at the prestigious SME100 Awards 2022.

This year has seen the rising cost of raw materials, yet as the inflation rates soar and interest rates continue to rise, SMEs in Vietnam have managed to sustain their businesses and even displayed great resilience against the challenging environment.

The SME100 Awards returned to Vietnam with over 200 Vietnamese SMEs being nominated as businesses grasp at the opportunity for a stimulus to restart and grow their businesses post-pandemic.

Vietnam SMEs triumph against new challenges

The SME100 Awards continue to adopt the most stringent evaluation criteria for all nominees.

The five-step process included both qualitative and quantitative analysis, as well as a 100 per cent interview requirement with a focus on growth (turnover, profit, and market share) and resilience (best practices, sustainability, and vision). Only 18 businesses emerged as winners of the SME100 Awards 2022 after going through this gruelling process.

The SME100 Awards serve as the pinnacle of trust and a benchmark for the reliability of business owners.

Group publisher and editor-in-chief of Business Media International William Ng said, “SMEs continue to be the first affected by a downward economic cycle and are among the last to recover. The SME100 award recipients are among those that have demonstrated resilience, strength, and growth despite the challenges.”

The SME100 Awards serve as the pinnacle of trust and a benchmark for the reliability of business owners. The SME100 Awards have become the beacon of attention on all platforms that matter across all industries. Vietnam is one of the four ASEAN member countries to organise the SME100 Awards along with Indonesia, Malaysia, and Singapore.

The 2022 Vietnam SME100 Award Winners (in alphabetical order)

No	Company
1	9PMP Vietnam Co., Ltd.
2	AVT International JSC
3	D.lion Communication and Solutions Consultancy JSC
4	Double U
5	ENOUVO Group
6	Estuary JSC
7	Genesis Fund Management JSC
8	GMO-Z.com RUNSYSTEM JSC
9	Huynchi Co., Ltd.
10	InvestIdea Bright Technology Co., Ltd.
11	KBM Corporation (KingBee Marketing)
12	Kimei Global Co., Ltd.
13	Nhat Huy Investment JSC
14	Phuc Lai - Flix Communications Co., Ltd.
15	Success Software Services Corporation
16	Tierra JSC
17	Trinity Advertising Trading JSC
18	WOW Communications Service Co., Ltd.

SMEs to increase online exports

Many small and medium-sized enterprises (SMEs) plan to increase cross-border trade for their products via e-commerce platforms to promote exports in the context of the COVID-19 pandemic.

ADB, TPB sign $25 million loan to finance women-led SMEs in Vietnam

The Asian Development Bank (ADB) signed a US$25 million loan with Tien Phong Commercial Joint Stock Bank (TPB) to expand access to finance of women-owned and led small and medium-sized enterprises (WSMEs) in Vietnam.

Providing the necessary support for SMEs to thrive

Links to global supply chains, financial accessibility, and digital transformation are the pillars for enterprises to improve competitiveness. Talking to VIR’s Nguyen Huong, Deputy Minister of Planning and Investment Tran Duy Dong explained the numerous measures available to support smaller businesses moving into 2022.

SMEs face challenges in digital transformation

Vietnamese small- and medium-sized enterprises (SMEs) are facing barriers in digital transformation and have a passive response to market changes, said Hoang Minh Chien, deputy head of the Vietnam Trade Promotion Agency (Viettrade).

By Huyen Thuy

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