Strong solutions are needed for SMEs to access capital effectively.

In that context, the Government and the Banking sector have implemented many preferential policies to support SMEs in accessing capital sources. SMEs are given priority in credit, with preferential loan packages from banks and other support programs such as Decree 55/2015/ND-CP on loans for agriculture and rural areas; Decree 111/2015/ND-CP on loans for supporting industry development, and many low-interest loan programs for specific sectors...

In addition, the State Bank of Vietnam has implemented solutions to facilitate access to credit for SMEs such as gradually reducing interest rates, directing credit institutions to reduce lending interest rates; innovating credit management according to the assignment of all credit growth targets from the beginning of the year so that credit institutions can proactively meet capital needs for the economy; perfecting credit granting mechanisms of credit institutions for customers, including SMEs, especially guiding documents for the Law on Credit Institutions 2024...

Despite many support policies, SMEs still face many difficulties in accessing credit capital. These enterprises often face difficulties in financial capacity, limited transparency of financial information, and many enterprises do not meet the requirements for collateral when borrowing capital. In fact, most SMEs are small in scale, have limited management capacity, lack feasible business plans, and are not financially transparent. This makes it difficult for banks to grant credit.

From the perspective of credit institutions, they also face challenges in not being able to arbitrarily lower standards, reduce regulations and lending conditions, but still have to comply with the law to ensure risk management and system safety. In particular, in the context of drastic implementation of solutions to restructure banking activities, credit institutions are increasingly promoting the application of risk management standards according to international practices, requiring increasing transparency.

Meanwhile, the handling of secured assets and debt collection encountered many difficulties, many customers did not cooperate, and there were widespread debt default groups on social networks calling for non-payment of debts, especially for consumer loan customers; Debt settlement through litigation procedures took a lot of time and money and was ineffective...

Dr. Nguyen Quoc Hung – Vice Chairman and General Secretary of Vietnam Banks Association

To remove barriers and help SMEs access credit capital effectively to expand production and business activities, it is necessary to establish and build a system of appropriate and strong policy response solutions for SMEs.

On the Government side, strengthen policy coordination, improve the investment environment (tax, customs, administrative procedures, etc.), create a stable market for SMEs to operate. For management agencies such as the Ministry of Finance, review, evaluate and promote the activities of Credit Guarantee Funds for SMEs, and upgrade the National Portal on SME Support, helping banks and businesses to connect information more quickly and accurately. On the SBV side, continue to implement preferential credit programs; Direct credit institutions to increase capital concentration for priority areas, potential industries with high spillover, creating momentum for socio-economic development; promote initiatives such as supply chain lending and develop flexible financial products.

For the People's Committees of provinces and cities, actively coordinate with the banking sector in implementing programs connecting banks and businesses to grasp and promptly handle difficulties of people and businesses in credit relations; resolve difficulties in administrative procedures and issue certificates of collateral...

Credit institutions are studying the flexible application of collateral conditions for each group of SME customers, lending to the supply chain based on the reputation and risk level of a central enterprise. This method can help SMEs overcome the difficulty of lacking collateral - one of the biggest problems of SMEs today... In particular, to improve competitiveness and increase access to capital, in addition to improving policy mechanisms, enterprises themselves need to proactively restructure their operations, improve competitiveness and financial transparency, and provide information as a basis for credit institutions to appraise loans. At the same time, it is necessary to promote the application of technology; proactively seek and expand product consumption markets, expand distribution and sales channels, and promote production and business development...

Improving financial capacity, information transparency, and investing in innovation not only help businesses easily access loans but also help them survive and develop in a fiercely competitive environment.

Source: https://thoibaonganhang.vn/can-giai-phap-manh-de-dnnvv-tiep-can-von-hieu-qua-161981-161981.html