Increasing the effectiveness of the Small and Medium Enterprise Development Fund towards local business development

Continuing the discussion session at the 10th Session of the 15th National Assembly on the socio-economic situation in 2025, on the morning of October 30, delegate Ly Thi Lan, member of the Provincial Party Standing Committee, Head of the Provincial National Assembly Delegation participated in the discussion on the implementation of the 2025 financial plan and the expected 2026 financial plan of the non-budgetary state financial funds managed by the Central Government.

Delegates highly appreciated the management and use of state financial funds in 2025 according to the contents of the reports. In particular, ministries and central agencies assigned to manage state financial funds promptly organized assessments of the implementation of laws related to the establishment, management and use of funds; on that basis, they developed and submitted to competent authorities for decision on a roadmap for restructuring, merging, ceasing operations, or dissolving funds that are ineffective or no longer suitable to the socio -economic development situation; amending, supplementing, and abolishing relevant legal documents on the management and use of state financial funds according to their authority or submitting to competent authorities for consideration and decision in 2025.

Head of the National Assembly Delegation of the province Ly Thi Lan spoke at the discussion.

The delegate particularly emphasized the role of the Small and Medium Enterprise Development Fund to realize the development goals of the private economic sector and local enterprises.

According to the delegate, the establishment and completion of the operating mechanism of the Small and Medium Enterprise Development Fund is a step to concretize the major policies of the Party and State on private economic development, affirmed in Resolution No. 68-NQ/TW of the Politburo , Resolution No. 198/2025/QH15 of the National Assembly, and Resolution No. 139/NQ-CP of the Government.

These resolutions emphasize the goal of strongly developing the private economic sector, considering it the most important driving force of the economy, in which financial - credit - creative startup support for small and medium-sized enterprises is the key solution.

The Small and Medium Enterprise Development Fund, which serves as a key financial tool, helps businesses access preferential capital sources, promote innovation, create jobs, and expand production and business, especially in mountainous provinces such as Tuyen Quang , where most businesses are small in scale and have limited financial capacity.

However, the implementation practice shows that the policy to support small and medium enterprises still has some limitations such as: The coordination mechanism between the Central Fund and localities is not clear, while the need for capital support at the grassroots level is very large. In addition, there is no mechanism for decentralization and authorization for localities to be proactive in implementing the Fund's activities. Financial resources and support criteria have not shown regional priority, especially for mountainous and midland areas. There is no connection between this Fund and other funds such as the Technology Innovation Fund and the Science and Technology Development Fund, so a support chain connecting ideas - research - application - commercialization has not been formed.

Delegates said that the Ministry of Finance is drafting a new Decree on the organization and operation of the Small and Medium Enterprise Development Fund, replacing Decree 39/2019/ND-CP and Decree 45/2024/ND-CP, which is very necessary and timely, in order to institutionalize the policies of the Party and the National Assembly on private economic development.

The draft Decree needs to focus on three core requirements: Clearly defining the legal status and operating model of the Fund in a transparent, professional manner, with sufficient financial capacity to support businesses. Expanding the scope of support, focusing on innovative start-ups, business households and individuals, with simple, transparent and accessible procedures. Increasing connectivity and decentralization, allowing close coordination with localities, especially mountainous provinces, to ensure support resources reach the right subjects and promote real effectiveness.

From local practice, delegate Ly Thi Lan recommended that the Government soon issue a Decree on the organization and operation of the Small and Medium Enterprise Development Fund, clearly defining the mechanism for decentralization, coordination and regional priorities in implementation. At the same time, allow piloting of the Branch Fund model at the provincial level, or local co-investment mechanism, to ensure support resources are close to actual needs.

At the same time, strengthen the Fund's operational linkage with the Technology Innovation Fund and the National Science and Technology Development Fund, forming a chain to support businesses from innovation to production and commercialization of products. Promote digital transformation and information transparency, publicize the process, loan conditions, and support list for businesses to easily access, increase publicity and fairness.

The delegate emphasized that the Small and Medium Enterprise Development Fund is not only a financial tool, but also a strategic policy to realize the Resolutions of the Party and the National Assembly on private economic development - an important driving force of the economy. If completed and implemented synchronously, the Fund will become a resource to promote innovation and develop small and medium enterprises in mountainous areas, contributing to rapid, sustainable and inclusive economic development - in the spirit of "leaving no one behind in development".

PV

Source: https://baotuyenquang.com.vn/thoi-su-chinh-tri/tin-tuc/202510/tang-hieu-qua-quy-phat-trien-doanh-nghiep-nho-va-vua-huong-toi-doanh-nghiep-dia-phuong-phat-trien-1f4193b/