Resolution 198/2025/QH15: The 2026 Growth Catalyst for SMEs – A Strategic Deep Dive for C-Suite

On Thursday, November 13, 2025 Dreamplex was honored to host a pivotal strategic dialogue at Dreamplex Private Tran Quoc Toan, bringing together Hawee (HCMC Association for Women Executives & Entrepreneurs), UN Women, and the Enterprise Development Agency (Ministry of Planning & Investment).

This wasn’t just a discussion; it was a working session aimed at dismantling the barriers between macro policies and the execution realities of SMEs, particularly women-owned businesses. Critical issues such as capital access hurdles, lack of official information channels, and procedural burdens were addressed head-on.

For CEOs and SME owners, this presents a dual opportunity: optimizing operational expenditure (OPEX) through tax and land incentives, and accessing low-cost capital via ESG mechanisms. However, capturing this value requires a non-negotiable commitment to transparency and governance excellence.

Below is a strategic deep-dive into the key policy discussed – Resolution 198/2025/QH15 – and how your business can prepare to leverage it in 2026.

1. Deep Dive into the “Big 6” Incentives: Cash Flow & Profitability

Based on the Resolution and analysis from the Enterprise Development Agency, here are six areas where your cash flow can be directly optimized:

A. Tax & Fees: short-term cash flow optimization

New tax policies are the most potent financial levers to improve net profit margins.

• 100% CIT exemption for the first 3 years: Applicable to innovative SME startups. This allows reinvestment of profits into R&D and market expansion without tax pressure –> If you plan a spin-off or a new venture, consider incorporating in early 2026 to maximize this benefit.
• 50% PIT reduction for high-quality talent: Applicable to experts and scientists in innovative startups and high-tech zones –> Incorporate this into your Compensation & Benefits package to attract C-level or Tech Lead talent without inflating the actual payroll budget.
• Abolition of business license tax: Effective Jan 1, 2026. While the amount is nominal, it reduces administrative burden, streamlining accounting operations.

B. Green credit & ESG: Access to long-term cheap capital

This is an irreversible trend. Resolution 198 offers 2% annual interest rate support for ESG-compliant projects.

• Context: With commercial lending rates remaining high, a 2% subsidy significantly lowers the Weighted Average Cost of Capital (WACC), directly improving project ROI.
• Action: Develop an ESG roadmap now. Start with basic GHG inventories or fundamental green certifications to qualify for this funding.

C. Land & infrastructure: reducing CAPEX burden

Industrial land rental costs are skyrocketing. Resolution 198 intervenes by:

• Mandating industrial parks (IPs) to allocate land banks for SMEs.
• 30% land rent reduction for the first 5 years in IPs, industrial clusters, and tech incubators.
• Analysis: For manufacturing SMEs, land rent is a major CAPEX component. A 30% reduction in the first 5 years helps businesses survive the “valley of death” (typically the first 3-5 years) when cash flow is unstable.

D. Market access: The public procurement opportunity

Public procurement packages under 20 billion VND are prioritized for SMEs (specifically women-owned and minority-owned businesses).

Opportunity: The public procurement market in Vietnam is vast but has high entry barriers. This policy creates a “protected niche” for SMEs, reducing asymmetric competition with large conglomerates.

E. Tech & training: enhancing competitiveness

The state covers costs for training in governance and accounting, and provides free access to digital platforms.

Benefit: Reduces Learning & Development (L&D) budgets. Companies can redirect training funds to industry-specific, high-value skills.

F. Legal & inspection: minimizing operational risk

The “maximum one inspection per year” rule and the shift from “Pre-check” to “Post-check” compliance.

Implication: Minimizes business disruption. However, “Post-check” implies higher self-responsibility. Violations found during post-audit often carry heavier penalties.

2. Strategic Action Plan: A 3-Step Roadmap for Executive Teams

Bridging the gap between policy and execution is challenging. Based on insights from the Hawee & Enterprise Development Agency meeting, here is your roadmap to not get left behind.

Step 1: “Transparency” – the prerequisite (now)

The Resolution mandates the end of the “flat tax” for household businesses by 2026. The message is clear: The state manages based on real data. Actions should be:

• Convert household businesses to enterprises (if applicable)
• Implement standard accounting software and e-invoicing
• Conduct a preliminary internal audit to ensure “clean” financial data. Transparent data is the only ticket to the SME Development Fund and interest rate support packages.

Step 2: Leverage network & association power (Q1/2026)

Solo SMEs often struggle with bureaucratic procedures (“ask-and-give” mechanism). Strategy:

• Actively participate in industry associations (e.g Hawee, VCCI, young entrepreneurs associations)
• Use associations as an “endorsement” channel when applying for incentives. Regulatory agencies often prioritize applications funneled through Associations due to higher trust and reduced preliminary vetting workload.

Step 3: Restructure training portfolio (Q2/2026)

• Cut budgets for basic skills training (accounting, basic law, admin) -> Utilize free courses from support policies.
• Reallocate budget to strategic leadership, advanced digital transformation, or B2B sales training – competencies that directly drive efficiency and revenue.

3. Risk Management & Key Watch-Outs

Learning from past support policies (like Covid-19 relief packages), businesses must be vigilant against the following risks:

“Identity” Risk:

• Many incentives for “women-owned businesses” require 51% ownership. In reality, many female founders hold only 30-40% after fundraising rounds.
• Solution: Review your Corporate Charter and Cap Table. Consider voting rights agreements or internal ownership restructuring if the policy benefits are significant enough.

“Policy Lag” Risk:

• The Resolution is effective, but guiding Circulars often lag by 3-6 months.
• Solution: Do not wait for detailed guidance to start preparing. Prepare capability profiles, financial statements, and ESG reports according to general standards (like GRI, ISO) right now. When the registration portal opens, you will be the first in line.

“Post-check” Risk

• Shifting to post-check means businesses have the freedom to act first, but errors will be penalized heavily (tax arrears, administrative fines, criminal liability).
• Solution: Invest in a Legal Department or retain regular legal counsel. Legal advisory costs are far lower than the cost of penalties.

One of the most immediate ways to prepare for the coming year is to streamline your operational overhead now. Dreamplex’s flexible office solutions are designed as a strategic tool for this exact purpose. By consolidating rent, utilities, and administrative services into a single, predictable OPEX line item, businesses can liberate significant cash flow and management bandwidth.

This “lean operation” model not only improves financial transparency – a key requirement for accessing Resolution 198’s credit incentives – but also demonstrates the agile, cost-efficient governance structure that investors and state funding bodies prioritize.

Resolution 198 is a “new wind,” but it only propels those who have their sails set.

The recent event at Dreamplex Tran Quoc Toan marked the beginning of a resource-connecting journey. Enterprises must proactively embrace transparency and collaboration to turn policy into tangible profit.

Ready to prepare for your 2026 advantages?

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