​On April, 26 2024, The Government promulgated Decree No.45/2025/NĐ-CP providing amendments to the Government's Decree No. 39/2019/ND-CP dated May 10, 2019 on organization and operation of the Small and Medium Enterprise Development Fund. Some notable contents are as follows:

1. The Board of Controllers

The Board of Controllers that shall have 01 - 05 Controllers, including the Chief Controller. A Controller shall hold a term of office not exceeding 05 years, and may be re-appointed for up to 02 consecutive terms. In case the Board of Controllers only has 01 Controller, he/she shall act as the Chief Controller and be required to satisfy corresponding eligibility requirements for Chief Controller.​

2. Lending requirements.

2.1. Small and medium enterprises running innovative startups shall be entitled to loans granted by the Fund provided that they meet the following requirements:

- Meet criteria for small and medium-sized startup enterprises as prescribed in the Law on assistance for small and medium-sized enterprises and its guiding documents;

- Have feasible business projects or plans which must satisfy criteria for small and medium-sized startup enterprises;

- Ensure the equity participation in a production and business project or plan makes up at least 20% of the total investment capital to implement that production and business project or plan, and ensure sufficient capital for implementation of a production and business project or plan;

- Meet regulations on loan guarantee laid down herein.

2.2. Small and medium enterprises participating in inter-sectoral complexes shall be entitled to loans extended by the Fund when meeting the following requirements:

- Participate in sectoral complexes in accordance with provisions of the Law on assistance for small and medium-sized enterprises and its guiding documents;

- Have feasible business projects or plans in sectors or fields of sectoral complexes;

- Meet the requirements set forth in Points c, d Clause 1 of this Article.

2.3 Small and medium enterprises participating in value chains shall be entitled to loans extended by the Fund when meeting the following requirements:

- Participate in value chains in accordance with provisions of the Law on assistance for small and medium-sized enterprises and its guiding documents;

- Have feasible business projects or plans, and have products in these value chains;

- Meet the requirements set forth in Points c, d Clause 1 of this Article.

This Decree comes into force from June 10, 2024.​​ NĐ 45.pdf