BIDV contributes to promoting the development of women-owned businesses

At the workshop, BIDV representatives, experts and speakers exchanged and provided useful information to contribute to promoting the development of women-owned businesses in Vietnam.

Senior leaders of the Ministry of Planning and Investment, ADB and delegates take a souvenir photo; Ms. Nguyen Thi Kim Phuong - BIDV representative, second from left

The White Book, compiled by ADB in collaboration with the Agency for Enterprise Development (Ministry of Planning and Investment), is a product of the "Accelerating Vibrant Women's Enterprises in Southeast Asia and the Pacific (WAVES)" Program, funded by the Women's Finance Initiative (We-Fi). The publication includes some key contents on the operation of women-owned SMEs in Vietnam; barriers in resources, society, and the impact of Covid-19; assessment of supporting policies, legal frameworks, and regulations; international experience and good practices; some conclusions and recommendations for promoting the development of women-owned SMEs, etc.

At the workshop, the representative of the Ministry of Planning and Investment assessed: Women-owned enterprises play an important role in Vietnam's efforts to achieve the goal of inclusive and sustainable development. Hopefully, the findings and recommendations of the White Book will be useful information for state management agencies and relevant organizations to refer to for research in order to create more favorable conditions for female entrepreneurs to develop commensurate with the potential and role of this sector; thereby actively contributing to achieving the goals of gender equality and sustainable development of the country.

Overview of the White Book Launch Workshop

Ms. Nguyen Thi Kim Phuong - Deputy Director of BIDV Corporate Customer Department, said: BIDV identifies the task of "maintaining the leading bank position in terms of market share in the SME customer segment" as one of the six key objectives of the Business Development Strategy to 2025, with a vision to 2030. To implement this strategy, in addition to its internal financial capacity, tradition and experience in developing the corporate customer segment, over the years, BIDV has been continuously building comprehensive solutions, improving and enhancing the quality and services for SMEs, especially SMEs owned by women. BIDV not only supports credit but also consults and accompanies customers on the development journey; at the same time, always strives to make a difference that brings added value to the community.

Ms. Nguyen Thi Kim Phuong - BIDV representative, shared information at the White Book Announcement Workshop

Currently, BIDV is the leading commercial joint stock bank in Vietnam in terms of total assets, reaching 2.26 million billion VND; outstanding credit balance reaching 1.75 million billion VND; total number of corporate customers reaching about 500,000 customers; in which the number of SME customers is growing rapidly and continuously, ranking first in market share in Vietnam.

To support and accompany SMEs, BIDV has implemented many financial and non-financial programs aimed at increasing access to capital for production and business activities, and enhancing customers' internal strength. Typical examples include: (i) Indirect lending program from the SME Development Fund, with a scale of VND 2,000 billion, preferential short-term interest rate of 1.2%/year and long-term interest rate of 4.4%/year, for feasible projects and production and business plans in priority and encouraged areas of the State; (ii) Comprehensive financial program to minimize the impact of the Covid-19 pandemic on WSME; (iii) Building and operating BIDV SMEasy Digital Platform (https://smeasy.bidv.com.vn/) providing comprehensive solutions integrated on the digital ecosystem for SMEs; (iv) Digital transformation program with SMEs, etc.

White Paper on Women-Owned SMEs in Vietnam

The effectiveness of technical assistance projects jointly implemented by ADB and BIDV is a testament to the companionship and support of SMEs in accessing comprehensive financial and non-financial solutions. At the same time, it demonstrates BIDV's efforts on the journey to become the bank with the No. 1 market share of SME customers in Vietnam.

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