With Vietnam’s rapid economic development, intellectual property protection has become the key to enterprises’ continuous innovation and maintaining competitive advantage. As an emerging manufacturing center in Southeast Asia, Vietnam is attracting more and more domestic and foreign investors. However, many enterprises, especially small and medium-sized enterprises, often ignore the importance of intellectual property protection, which may put them at a disadvantage in the fierce market competition.

The Vietnamese government is well aware of the important role of intellectual property protection in stimulating innovation, attracting foreign investment and promoting economic development. In recent years, Vietnam has implemented a series of laws and regulations aimed at strengthening intellectual property protection and introduced a number of supporting policies. These measures not only reflect Vietnam’s determination to integrate into the global economic system, but also create unprecedented opportunities for enterprises, especially small and medium-sized enterprises.

For small and medium-sized enterprises, the government’s intellectual property support policies are like timely rain. These policies can not only help enterprises reduce the cost of intellectual property protection, but also provide necessary technical support and legal guidance. In the case of limited funds and resources, these support policies provide a level playing field for small and medium-sized enterprises, enabling them to better protect their innovative achievements, thereby gaining a firm foothold in the market and achieving long-term development.

However, although these policies have brought great opportunities to enterprises, many SMEs are not well-informed about them and have failed to make full use of these preferential measures. This article will deeply analyze the Vietnamese government’s intellectual property support policies for SMEs to help you fully understand the support you can get, so as to better protect your innovative achievements in the Vietnamese market and achieve sustainable development of your business.

In the following content, we will discuss in detail the specific content, application process, successful cases and future trends of various support policies to provide comprehensive guidance for your intellectual property strategy in the Vietnamese market. Whether you are a company that has already established business in Vietnam or are considering entering this dynamic market, this article will become an important reference for you to formulate your intellectual property strategy.

1. Overview of Vietnam’s Intellectual Property Policy

Vietnam’s development in intellectual property protection is changing with each passing day. Since joining the World Trade Organization (WTO) in 1995, the Vietnamese government has realized the importance of a sound intellectual property system in attracting foreign investment and promoting domestic innovation, and has continuously improved relevant laws and regulations. In 2005, Vietnam promulgated its first “Intellectual Property Law”, which marked a new stage in the country’s intellectual property protection. Since then, the law has undergone several revisions, especially major revisions in 2009 and 2019, which further strengthened intellectual property protection and made it more in line with international standards.

In 2022, the Vietnamese government approved the National Intellectual Property Strategy to 2030, a landmark policy document that points the way for the development of intellectual property rights in the next decade. The strategy emphasizes the core role of intellectual property rights in promoting innovation and enhancing national competitiveness, and proposes a series of specific goals and measures. These include increasing the contribution of intellectual property-intensive industries to GDP to more than 20% by 2030, and increasing the annual growth rate of patent applications by 16-18%.

At present, Vietnam’s intellectual property policy framework is mainly composed of the Intellectual Property Law, the Science and Technology Law, and a series of government decrees and notifications. This system covers the protection of various aspects such as patents, trademarks, copyrights, and trade secrets. It is worth noting that Vietnam is actively promoting the digital management of intellectual property rights. The “Intellectual Property Digital Transformation Plan” launched in 2020 aims to achieve 80% of the intellectual property application and management processes electronically by 2025.

For small and medium-sized enterprises, the Vietnamese government has introduced a number of support policies in recent years. Decree No. 35, promulgated in 2019, specifically targets innovation of small and medium-sized enterprises and provides a number of incentives, including subsidies for intellectual property application fees and tax incentives for technology transfer. In addition, the amendment to the Investment Law implemented in 2021 further expanded the scope of tax incentives for high-tech enterprises, which is a major benefit for small and medium-sized enterprises with independent intellectual property rights.

In general, Vietnam’s intellectual property policy is moving towards a more complete and international direction. The government not only pays attention to the improvement of laws and regulations, but also pays more and more attention to providing substantial support to enterprises, especially small and medium-sized enterprises. This trend will undoubtedly create a more favorable environment for enterprises planning to do business in the Vietnamese market, and also provide strong policy guarantees for the innovative development of local enterprises.

2. Core Contents of the Intellectual Property Support Policy for SMEs

In recent years, the Vietnamese government has vigorously supported the development of intellectual property rights of small and medium-sized enterprises and launched a series of comprehensive support policies. These policies cover four aspects: financial support, tax incentives, financing support and technical support, aiming to help small and medium-sized enterprises establish and protect their intellectual property rights in all aspects.

2.1 Financial support

In terms of financial support, the Vietnamese government has provided a number of direct financial assistance to SMEs. First, the patent application fee subsidy policy allows eligible SMEs to receive up to 70% of the patent application fee subsidy, up to 100 million VND (about 4,300 USD). This greatly reduces the financial burden of enterprises in the patent application process. Secondly, the trademark registration fee exemption policy provides SMEs with a 50% exemption of official trademark registration fees, encouraging more companies to protect their own brands. In addition, copyright registration preferential measures include exemption of copyright registration fees and accelerated registration process, so that cultural and creative SMEs can more conveniently protect their intellectual achievements.

2.2 Tax Incentives

Tax incentives are another important means for the Vietnamese government to support the development of intellectual property rights of small and medium-sized enterprises. The tax exemption policy for intellectual property-related income stipulates that small and medium-sized enterprises can enjoy up to 50% income tax exemption on income from intellectual property rights such as patents and trademark usage rights for a period of 5 years. The policy of additional deduction for R&D expenses allows enterprises to deduct 150% of qualified R&D expenses when calculating taxable income, effectively reducing the cost of innovation. The preferential tax rate policy for high-tech enterprises gives small and medium-sized enterprises that have been recognized as high-tech enterprises a preferential income tax rate of 15% (the standard tax rate is 20%) for a period of 4 years, which greatly encourages the technological innovation of enterprises.

2.3 Financing support

To solve the financing difficulties of small and medium-sized enterprises, the Vietnamese government has introduced innovative financing support policies. The intellectual property pledge loan policy allows enterprises to obtain loans from designated banks with intangible assets such as patents and trademarks as collateral, with the loan amount up to 70% of the assessed value of the intellectual property. The special fund for innovative projects provides low-interest or interest-free loans for high-potential innovative projects, up to 80% of the total project investment, for a period of up to 7 years, which strongly supports the innovative development of small and medium-sized enterprises.

2.4 Technical Support

In addition to direct economic support, the Vietnamese government also provides practical technical support for SMEs. Free intellectual property consulting services are provided by the Vietnam Office of Intellectual Property (NOIP), including one-on-one expert consultations, regular training seminars, etc., to help enterprises better understand and apply intellectual property protection strategies. The use of patent information retrieval platforms is also open to SMEs, and enterprises can access domestic and foreign patent databases for free, providing valuable information support for R&D decisions and patent applications. These technical support measures have greatly enhanced the intellectual property management capabilities of SMEs.

Through these diversified support policies, the Vietnamese government has shown its high attention to the development of intellectual property rights for SMEs and created a good innovation environment for enterprises. This is not only conducive to enhancing the international competitiveness of Vietnamese enterprises, but also provides many opportunities for foreign investors. SMEs should fully understand and make good use of these policies to achieve greater success in intellectual property protection and innovative development.

3. Industry-specific support policies

When formulating intellectual property support policies, the Vietnamese government paid special attention to key areas and emerging industries in the manufacturing industry, providing more targeted support to small and medium-sized enterprises in these industries. These policies are not only aimed at protecting the innovative achievements of enterprises, but also committed to promoting technological progress and enhancing international competitiveness of the entire industry.

Among the key manufacturing sectors, the electronics industry has enjoyed the most generous policy support. The Vietnamese government provides electronics manufacturers with a 50% subsidy on patent application fees, and during the research and development of key electronic components, related expenses can enjoy a 150% additional deduction. In addition, for electronic product patents developed in Vietnam, the income generated by them can enjoy a preferential tax rate of 15% in the first three years, which is significantly lower than the standard 20% corporate income tax rate.

As a traditional advantageous industry in Vietnam, the textile industry has also received considerable policy support. The government provides all-round intellectual property protection for textile enterprises to build their own brands. For example, textile enterprises that register trademarks in the international market can receive up to 70% of the registration fee subsidy. At the same time, the Vietnam Textile Association has also set up a special fund to provide free brand design and intellectual property consulting services for small and medium-sized textile enterprises.

The intellectual property protection policy of the food processing industry pays more attention to the protection of geographical indications and traditional crafts. The government provides full application fee subsidies for enterprises applying for geographical indication protection and provides additional support in market promotion. For food processing enterprises that inherit traditional crafts, if they successfully apply for the crafts to be intangible cultural heritage, they can also enjoy a five-year tax reduction of half.

In terms of emerging industries, the intellectual property policy in the field of biotechnology is particularly eye-catching. The Vietnamese government has established a biotechnology development fund to provide up to 80% fee subsidies for applications for biotechnology-related patents. At the same time, for successfully commercialized biotechnology patents, the income generated can enjoy an ultra-low tax rate of 10% in the first five years. In addition, the government has also cooperated with a number of internationally renowned biotechnology companies to provide free patent database access to local small and medium-sized enterprises.

As a strategic emerging industry that the Vietnamese government focuses on supporting, the new energy industry also enjoys all-round intellectual property support. For patent applications for clean energy technologies such as solar energy and wind energy, the government provides a fast-track review channel, shortening the review time to half of the regular cycle. At the same time, new energy companies can enjoy a 200% additional deduction for their R&D expenditures, greatly reducing the pressure on innovation costs. It is worth mentioning that Vietnam has also established a green technology trading platform to facilitate patent transactions for new energy technologies and provide certain tax incentives to both parties to the transaction.

These industry-specific intellectual property support policies fully reflect the Vietnamese government’s emphasis on key and emerging industries. Through precise policy implementation, Vietnam not only provides strong support for the innovation activities of small and medium-sized enterprises, but also effectively promotes the optimization and upgrading of the industrial structure. For small and medium-sized enterprises that intend to enter the Vietnamese market, in-depth understanding and full use of these policies will undoubtedly bring great help to the innovative development and market competition of enterprises.

4. Highlights of local support policies

In order to attract investment and promote innovation, major cities in Vietnam have introduced unique intellectual property support policies. These local policies complement national measures and provide more diversified support for small and medium-sized enterprises.

As Vietnam’s economic center, Ho Chi Minh City has launched a remarkable innovation incentive program. The program focuses on supporting the creation and protection of intellectual property rights in the high-tech field. Specific measures include providing a reward of up to 500 million VND (about 21,500 USD) to companies that obtain international patents, and a subsidy of up to 100 million VND (about 4,300 USD) to companies that successfully register domestic patents. In addition, Ho Chi Minh City has also set up a special intellectual property consulting center to provide free patent search and trademark registration consulting services to small and medium-sized enterprises, greatly reducing the cost of intellectual property protection for enterprises.

The preferential policies of Hanoi Hi-Tech Park are more focused on attracting high-tech enterprises. Enterprises in the park can enjoy 4 years of tax exemption and 50% reduction of corporate income tax for the next 9 years. For R&D activities carried out in the park, enterprises can receive up to 30% of the cost subsidy, up to 100 million VND (about 4,300 USD). It is particularly worth mentioning that the park has also established a fast-track examination channel for intellectual property rights, providing priority examination services for enterprises in the park, greatly shortening the waiting time for patent applications.

Da Nang Software City has formulated special intellectual property protection measures for the software and digital content industries. Companies settled in the city can enjoy a preferential tax rate for 15 years and only need to pay 10% corporate income tax. For the registration of software copyrights, the Da Nang City Government provides full subsidies and has set up a special legal aid center to provide support for companies to resolve intellectual property disputes. In addition, Da Nang Software City also regularly organizes intellectual property training workshops to help small and medium-sized enterprises improve their intellectual property management capabilities.

These local policies not only reflect the determination of major cities in Vietnam to attract investment and protect intellectual property rights, but also provide more choices for small and medium-sized enterprises. Enterprises can choose the most suitable place to settle down according to their own industry characteristics and development needs, so as to maximize the use of these preferential policies. It is worth noting that these policies are still being updated and improved. It is recommended that enterprises consult the latest policy information in a timely manner when making decisions.

5. Application Process and Notes

Although the process of applying for Vietnam’s intellectual property support policy may seem complicated, as long as the key steps are mastered, small and medium-sized enterprises can successfully obtain government support. First, let’s analyze the application eligibility conditions in detail. According to the latest regulations of the Vietnamese Ministry of Science and Technology, eligible small and medium-sized enterprises must meet the following points: annual turnover does not exceed 100 billion VND (about 4.3 million US dollars), the number of employees is less than 200, and they have been legally registered and operated in Vietnam for at least one year. In addition, the applicant company must prove that it has substantial investment in R&D or innovation activities, usually requiring R&D expenditures to account for more than 2% of annual revenue. It is worth noting that foreign-funded enterprises are also eligible to apply as long as their subsidiaries or joint ventures in Vietnam meet the above conditions.

Next, let’s take a look at the application process step by step. The first step is to prepare application materials, including business license, financial statements, R&D plan, etc. Among them, the R&D plan is particularly important, and it is necessary to explain in detail the project’s innovations, market prospects and expected results. The second step is to submit an application to the Science and Technology Department of the province or city where the application is located. It is worth mentioning that the Vietnamese government recently launched an online application platform, which greatly simplifies the process. The third step is to wait for review, which usually takes 4-6 weeks. If the application is approved, the company will receive a formal notice and can then start to enjoy relevant preferential policies. Finally, companies need to submit progress reports to relevant departments regularly (usually quarterly), which is the key to continued policy support.

During the application process, companies often encounter some common problems. For example, many companies are confused about how to prove their “innovation”. In fact, the Vietnamese government has adopted a more flexible recognition standard, which not only includes traditional invention patents, but also covers process improvements, business model innovation, etc. Another common problem is language barriers. All application materials need to be submitted in Vietnamese. In this regard, we recommend hiring a local intellectual property agency to assist. They are not only familiar with the application process, but also can provide professional translation services. In addition, some companies are worried about the risk of intellectual property leakage during the application process. In fact, the Vietnamese government has established a strict confidentiality system, and the application materials are encrypted, so companies can rest assured.

Finally, we would like to remind you that although the Vietnamese government encourages innovation, the punishment for false declaration is also quite severe. Once found to have provided false information or abused the policy, the enterprise will not only lose all the benefits, but also face high fines or even legal proceedings. Therefore, honesty and truthful declaration are the key to ensure long-term benefits. Through careful preparation and careful operation, small and medium-sized enterprises can fully take advantage of these support policies to achieve innovative development and stand out in the Vietnamese market.

6. Case Analysis of Policy Implementation

The Vietnamese government’s intellectual property support policies have shown significant results in practice, and many small and medium-sized enterprises have achieved rapid development by cleverly utilizing these policies. This section will use several typical cases to show how these policies can effectively help enterprises protect their innovative achievements and enhance their market competitiveness.

Case 1: TechVina Software Company

TechVina is a small software development company based in Ho Chi Minh City. The company has developed an innovative agricultural management software that uses artificial intelligence technology to help farmers optimize their planting decisions. TechVina took full advantage of the government’s patent application fee subsidy policy and successfully applied for patent protection for its core algorithm. At the same time, the company also enjoyed a 150% additional deduction for R&D expenses, which greatly reduced financial pressure. With this support, TechVina not only protected its own technology, but also attracted venture capital and achieved rapid expansion of its business.

Case 2: GreenTex Textile Company

GreenTex is a medium-sized textile company in Hanoi that focuses on the research and development and production of environmentally friendly fabrics. The company took advantage of the government’s preferential policies for high-tech enterprises and enjoyed a preferential tax rate of 15% (5 percentage points lower than the 20% tax rate for ordinary companies). In addition, GreenTex also obtained a low-interest loan by pledging intellectual property rights, solving the problem of capital turnover. These policy supports have enabled GreenTex to continue to invest in research and development. It currently owns a number of environmentally friendly fabric patents and has become a technology leader in the industry.

Case 3: FoodInno food technology startup

FoodInno is a food technology startup based in Da Nang that focuses on developing new plant-based protein foods. The company took advantage of the free intellectual property consulting services provided by the local government to correctly plan its patent application strategy. At the same time, FoodInno also received funding from the Special Fund for Innovation Projects for the research and development of its key technologies. This support enabled FoodInno to successfully develop a number of innovative products within two years of its establishment and quickly gain a foothold in the Vietnamese plant-based protein market.

Experience summary and inspiration:

• Policy awareness is crucial: These success stories all show that companies have a deep understanding of government policies. It is recommended that SMEs pay attention to policy updates regularly and consider designating someone to be responsible for policy research.
• Comprehensive use of policy combinations: The most successful companies are often those that can make comprehensive use of multiple policies. Companies should formulate a comprehensive intellectual property strategy based on their own circumstances to maximize policy dividends.
• Combining intellectual property with business development: The companies in these cases have closely combined intellectual property protection with business development, forming a virtuous circle. It is recommended that companies consider intellectual property factors at the early stage of business planning.
• Local policies are also important: In addition to national policies, local government support measures should not be ignored. Companies should fully understand the special policies of their regions.
• Continuous innovation is the key: Policy support creates a favorable environment for enterprises, but the continuous innovation ability of enterprises themselves is the foundation of long-term success. Policy dividends should be used to enhance the innovation ability of enterprises.

These cases and experiences show that the Vietnamese government’s intellectual property support policies are effectively stimulating the innovation vitality of small and medium-sized enterprises. For enterprises planning to enter the Vietnamese market, in-depth understanding and good use of these policies will give them an advantage in the fierce market competition.

7. Comparison of policies with neighboring countries

In Southeast Asia, Vietnam’s intellectual property support policies have shown unique advantages and competitiveness. By comparing with neighboring countries such as Thailand, Malaysia and Indonesia, we can clearly see Vietnam’s progress and attractiveness in supporting intellectual property rights for small and medium-sized enterprises.

Vietnam’s policy advantages are first reflected in its comprehensiveness and pertinence. Compared with neighboring countries, Vietnam’s support policies pay more attention to the actual needs of small and medium-sized enterprises. For example, the patent application fee subsidy provided by the Vietnamese government covers a wider range, not only including domestic applications, but also extending to international patent applications. This is significantly better than Thailand and Malaysia, whose subsidy policies are mainly focused on domestic applications. In addition, Vietnam’s intellectual property pledge loan policy has been implemented more deeply, providing small and medium-sized enterprises with more flexible financing channels, which is in a leading position in the region.

In terms of tax incentives, Vietnam’s preferential policies for high-tech enterprises are particularly prominent. Similar to Malaysia, Vietnam provides high-tech enterprises with a preferential tax rate as low as 10%, which is far lower than the general level in the region. However, Vietnam’s advantage is that its recognition standards are more flexible, allowing more small and medium-sized enterprises to benefit. In contrast, although Indonesia also has similar policies, the application procedures are more complicated and the threshold is relatively high.

Vietnam also performs well in technical support and services. The number of free IP consultation service centers set up by the government is greater than that of neighboring countries, and the coverage is wider. These centers not only provide consultation, but also organize regular training to help small and medium-sized enterprises improve their IP management capabilities. In comparison, although Singapore also performs well in this regard, its services are mainly concentrated in urban areas, while Vietnam’s service network is more in-depth in rural and remote areas.

In regional competitiveness analysis, Vietnam’s overall environment is showing increasing attractiveness. In recent years, Vietnam’s ranking in the World Intellectual Property Organization (WIPO) Global Innovation Index has continued to rise, ranking 46th in 2023, ahead of Indonesia (61st) and the Philippines (56th), and second only to Malaysia (36th) and Thailand (43rd). This trend reflects that Vietnam’s efforts in improving the innovation environment and protecting intellectual property rights are gaining international recognition.

However, Vietnam still faces some challenges. Compared with Singapore, Vietnam still has room for improvement in the enforcement and efficiency of intellectual property rights. In addition, although Vietnam has strong policy support, the continuity and stability of policy implementation need to be further strengthened compared with Malaysia and Thailand.

In general, Vietnam’s intellectual property support policies have shown obvious competitive advantages in Southeast Asia, especially in terms of support for small and medium-sized enterprises. With the continuous improvement and effective implementation of these policies, Vietnam is becoming one of the most attractive investment destinations for knowledge-intensive enterprises in the region. For small and medium-sized enterprises planning to expand their business in Southeast Asia, the intellectual property protection and support environment provided by Vietnam is undoubtedly an option worthy of serious consideration.

8. Outlook for future policy trends

The future development trend of Vietnam’s intellectual property policy has attracted attention, and many experts have conducted in-depth analysis and predictions. Overall, the Vietnamese government is increasing its support for intellectual property protection and innovation, and this trend is expected to continue to strengthen in the next few years.

Experts generally believe that Vietnam will further improve and refine its intellectual property support policies for small and medium-sized enterprises. It is expected that more targeted measures will be introduced, such as increasing the amount of patent application subsidies and expanding the scope of tax incentives. At the same time, the government may simplify the application procedures and improve the approval efficiency to encourage more small and medium-sized enterprises to actively participate in intellectual property protection.

In terms of industrial policy, Vietnam is expected to more closely integrate intellectual property support with key industrial development strategies. For example, in high-tech fields such as electronic manufacturing, artificial intelligence, and biotechnology, more attractive intellectual property incentives may be introduced. This includes not only financial support, but also policies on talent introduction, technical cooperation, and more.

As Vietnam actively participates in international economic cooperation, its intellectual property policy will also become more international. Experts predict that Vietnam may further adjust local regulations to align with international standards and strengthen intellectual property cooperation with other countries. This may bring more opportunities for cross-border intellectual property protection, but it also means that companies need to have a higher international perspective.

However, these policy developments are also accompanied by some challenges. First, the consistency and transparency of policy implementation still need to be improved. Local governments may have differences in the process of policy implementation, and companies need to pay close attention to the specific implementation details in different regions. Second, with the increase in policy support, the number of companies applying for intellectual property protection may surge, which may lead to a longer approval cycle, and companies need to plan their time reasonably.

Another potential challenge is the issue of IP valuation and value determination. As IP becomes more important in financing, taxation, etc., how to accurately assess the value of IP will become a key issue. The government is expected to formulate more detailed guidelines in this regard.

In terms of opportunities, experts are optimistic about Vietnam’s development prospects in certain emerging fields. For example, in the fields of environmental protection technology and digital economy, Vietnam may introduce more innovative intellectual property policies to provide companies with first-mover advantages. In addition, as regional economic integration deepens, Vietnam may become an important hub for intellectual property protection in Southeast Asia, providing companies with protection strategies that radiate the entire region.

In general, Vietnam’s future IP policy trends will bring more opportunities to small and medium-sized enterprises. However, enterprises also need to improve their IP management capabilities and actively pay attention to policy trends in order to seize opportunities and respond to challenges in a timely manner. In this rapidly changing environment, flexibility and foresight will become key factors for the success of enterprises.

9. Expert advice

As IP experts with many years of experience in the Vietnamese market, we understand the importance of making full use of government support policies for SMEs. Here are some proven suggestions to help companies maximize policy benefits and develop effective IP strategies.

In terms of how to maximize the use of support policies, first of all, enterprises should establish a dedicated intellectual property management team or designate a person in charge. This team needs to keep an eye on policy updates to ensure that the company does not miss any preferential opportunities. Secondly, actively participate in intellectual property training and seminars organized by the government, which can not only obtain the latest policy information, but also meet experts and potential partners in the industry. Third, make full use of free government consulting services, such as the patent search service provided by the Vietnam Intellectual Property Office, which can greatly reduce the initial R&D costs. Finally, consider working with local intellectual property agencies, who are usually more familiar with the details of policy implementation and can help companies better match policy requirements.

In terms of IP strategic planning, we recommend that companies take the following measures: First, conduct a comprehensive IP audit to identify the company’s core technologies and brand assets. Based on the audit results, formulate a phased protection plan to prioritize the protection of the most valuable assets. Second, combine the IP strategy with the overall corporate development strategy. For example, if you plan to expand into the Southeast Asian market, you should deploy patents and trademarks in relevant countries in advance. Third, establish a sound internal confidentiality system, especially in emerging markets such as Vietnam, where employee mobility may bring risks of technology leakage. In addition, consider adopting a variety of protection methods, such as protecting core technologies through patents and protecting some technologies as trade secrets to achieve maximum legal protection.

It is worth noting that the Vietnamese government is increasing its support for knowledge-intensive industries. Enterprises should pay close attention to policy inclinations in key areas such as smart manufacturing and new materials, and consider aligning their R&D directions with these areas to gain more policy dividends. At the same time, do not ignore local policies, such as emerging industrial zones such as Tong Nai and Bac Ninh, which often provide additional incentives for intellectual property protection.

Finally, we strongly recommend that companies establish an IP value assessment mechanism. This will not only help internal decision-making, but also provide strong support when applying for government funding or conducting IP transactions. Remember, in Vietnam, IP is not only a defensive tool, but also a lever to leverage the market. By making good use of policies and making reasonable plans, your company will be able to maximize the value of IP in this land full of opportunities.

10. Conclusion

In Vietnam, a land full of opportunities, intellectual property protection has become a key pillar for business development. Through the in-depth discussion in this article, we can clearly see that the Vietnamese government attaches great importance to intellectual property protection and provides many support policies for small and medium-sized enterprises. These measures not only reflect Vietnam’s determination to promote innovation and protect intellectual property rights, but also pave the way for the long-term development of enterprises.

For small and medium-sized enterprises that are considering or have already entered the Vietnamese market, it is crucial to actively participate in and make full use of these support policies. Whether it is subsidies for patent application fees, tax incentives, or financing support by pledging intellectual property rights, these policies provide enterprises with valuable resources and opportunities. We strongly recommend that enterprises take the initiative to understand these policies and incorporate intellectual property protection into the company’s core strategy.

It is worth emphasizing that intellectual property protection is not only a defensive measure against potential risks, but also a powerful weapon to promote corporate innovation and enhance market competitiveness. In Vietnam’s rapidly developing market, having protected intellectual property can bring unique competitive advantages to enterprises, attract investors’ attention, and establish a brand image in the industry.

Finally, we hope that this article will inspire more small and medium-sized enterprises to pay attention to and actively protect their intellectual property rights. These support policies provided by the Vietnamese government are the boosters for the rise of enterprises. Let us work together to write a successful chapter in the Vietnamese market under the protection of intellectual property rights. Remember, in the fiercely competitive business world, your innovative achievements are your most valuable assets. Protecting them is to protect the future of your company.