Sustainable development of small and medium enterprises is essential for Vietnam to have one million enterprises by 2020, said Prime Minister Nguyen Xuan Phuc.

Vietnam’s National Assembly is set to ratify the deal at the upcoming gathering on June 8.

Nine of the companies are small and medium enterprises (SMEs) and six of large scale.

By 2025, the trade ministry targets around 45% of small and medium enterprises of Vietnam taking part in e-commerce.

Hanoi eyes 10% annual growth of business creation, or 30,000 per year, while the SMEs would create 150,000 new jobs annually during the next five years.