Main Article Content
This paper is the empirical evidence of the relationship of the small and medium enterprises (SME) and economic growth with the case study in Ho Chi Minh City (HCMC) between 1995 and 2019. The research results evaluated the important role of human capital at SMEs measured by variables including the amount of labor per SME, the labor quality measured by the average years of schooling of labour and the proportion of labour allocated by the level of education. This paper uses four methods such as Ordinary Least Squares regression (OLS), ROBUST regression, Heteroskedastic linear regression (HLR) and RIDGE regression to estimate the impacts to economic growth. The result shows that the human capital has a positive role to influence growth than both the labour size and physical capital of SMEs.