The contribution of small and medium-sized enterprises to Ho Chi Minh City’s economic growth

In recent years, small and medium-sized enterprises (SMEs) have significantly contributed to Ho Chi Minh City’s economic growth. According the Ho Chi Minh City Department of Statistics, in 2021, the number of SMEs accounted for about 98 percent of the total number of businesses in Ho Chi Minh City, and SMEs contributed to 23 percent of the city’s GDP and employed about one-third of the city’s workforce. It can be seen that SMEs not only contribute greatly to the city’s economic development but also play an important role in the country’s sustainable economic growth. This study provides an overview and analyzes the contribution of SMEs to Ho Chi Minh City’s economic growth in recent years. The study also proposes some policies to facilitate the growth of SMEs and enhance their role in the city’s economic development.