Only 30 percent of small- and medium- sized enterprises (SMEs) are eligible for bank loans, Deputy Director of the Central Institute for Economic Management (CIEM) Vo Tri Thanh said during a workshop held in Hanoi on September 24.
Economist Nguyen Dai Lai pointed out that low credit ratings and competitiveness have hindered their access to loans.
According to Cao Sy Kiem, Chairman of the Vietnam Association of Small and Medium Enterprises, bank loans have been a major capital source for SMEs. However, some are unable to fulfil legal terms while others lack the competency to utilise the money effectively.
Cumbersome procedures and inequitable policies are also barriers, he said, adding that the Government has recently stepped in to address the issues but difficulties remain.
Dr Nguyen Dai Lai and Dr Le Tham Duong from the Ho Chi Minh City Banking University agreed that proving their ability to settle debts is essential for SMEs to enhance their access to bank loans.
There are more than 400,000 SMEs operating nationwide, accounting for 97 percent of overall active businesses.-VNA
Commercial banks need to change their perception of small and medium-sized businesses to boost lending for businesses, said head of the Central Institute for Economic Management (CIEM) Vo Tri Thanh.
The State Bank of Vietnam lowered interest rates on short-term deposits and ceiling interest rates on loans in a bid to boost bank loans, the English language version of the Nhan Dan (People) newspaper reported.
The Government should have appropriate policies to enable credit guarantee funds to operate more efficiently so that small- and medium-sized businesses can borrow easily from banks.
Asia’s small- and medium-sized enterprises (SMEs) need finance to help them grow into dynamic, internationally competitive companies, said a new report from the Asian Development Bank (ADB).
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
Illustrative image (Photo: VNA)
