The impact of regional economic development policies on the sustainable development of small and medium-sized enterprises (SMEs) in Central Vietnam
Abstract
Drawing on a systematic review and cross-regional policy comparison, this paper analyzes mechanisms through which a policy mix—comprising finance, innovation, digitalization, greening, and trade facilitation—shapes the sustainable development of SMEs, and derives implications for Central Vietnam. The study combines (i) a 2014–2025 review of ASEAN SME frameworks; (ii) benchmarking of instrumental interventions such as customs–logistics incentives (e.g., bonded-warehouse schemes and streamlined procedures), eco-labeling/green-rating programs, and digitalization support; and (iii) a synthesis of Vietnamese evidence on the roles of knowledge and technology in SME productivity and survival. The findings indicate three primary transmission channels: (1) strengthening firms’ knowledge and digital capabilities amplifies policy effects on economic, social, and environmental outcomes; (2) lowering transaction and logistics costs improves access to inputs and markets, particularly for export-oriented SMEs; and (3) standardizing sustainability measurement tools and stakeholder coordination mechanisms raises compliance and implementation effectiveness. However, the SME-specific sustainability-reporting architecture remains fragmented, and policy awareness in service industries (e.g., tourism) is only moderate. The paper proposes a roadmap for Central Vietnam that prioritizes firm-level digitalization-and-productivity programs, scales up inter-regional customs and logistics facilitation, and establishes SME-friendly sustainability-reporting criteria aligned with regional standards.