Removing difficulties in the operation of the Small and Medium Enterprise Guarantee Fund

Speaking at the workshop “Developing an ecosystem to enhance comprehensive access for small and medium-sized enterprises in Vietnam” on March 26, Ms. Trinh Thi Huong - Deputy Director of the Department of Private Enterprise Development and Collective Economy (Ministry of Finance) said that building a comprehensive financial ecosystem for small and medium-sized enterprises is extremely necessary. Especially in the current context when the role of the private economic sector is increasingly important in economic development.

However, the private economy still has many shortcomings and limitations, facing many barriers that hinder development, unable to make a breakthrough in scale and competitiveness, and failing to meet the requirements of being the core force of the country's economy. About 98% of the total number of enterprises are micro, small and medium-sized, facing many difficulties in accessing resources, especially credit capital, land, resources, science and technology, digital transformation and high-quality human resources.

“Access to finance has always been the most difficult problem, especially for small and medium-sized enterprises in Vietnam. Currently, only 17.8% of total outstanding credit is for small and medium-sized enterprises,” said Ms. Huong.

Delegates discussed at the conference.

To develop the private economic sector, Ms. Le Thi Xuan Quynh - Department of Policy, Business Environment and International Cooperation, Department of Private Enterprise Development and Collective Economy emphasized that enterprises need to diversify suitable types of collateral (intangible assets, future assets, data). Along with that, diversify credit supply sources, especially for small and medium enterprises; perfect the legal framework for financial companies through expanding the list of leased assets.

Mr. Tran Anh Quy - Department of Credit for Economic Sectors, State Bank proposed that the Ministry of Finance direct the Small and Medium Enterprise Development Fund to actively implement direct lending activities for small and medium enterprises, creating more capital supply channels for small and medium enterprises.

It is necessary to review and evaluate the difficulties and obstacles in implementing Decree No. 34/2018/ND-CP of the Government on the establishment, organization and operation of the Credit Guarantee Fund for small and medium enterprises in the direction of creating conditions to remove difficulties in the fund's operations. Consider building a mechanism to create a source of the fund's risk reserve fund, ensuring that when risks occur, the fund is able to handle them while still preserving its charter capital.

Provinces and cities need to pay attention to providing capital and speeding up the consolidation and improving the operational efficiency of the Guarantee Fund for small and medium enterprises in the locality. Continue to coordinate with the banking sector to implement the bank-enterprise connection program to promptly grasp and handle difficulties for enterprises.

“For the Vietnam Association of Small and Medium Enterprises and industry associations, it is necessary to enhance their role and influence as a bridge for small and medium enterprises to access credit institutions. At the same time, support in terms of market information, trade promotion activities, exhibitions and protection of legal rights for member enterprises,” said Mr. Quy.

Currently, the Department of Private Enterprise and Collective Economic Development is the focal point to help the leaders of the Ministry and the Government develop the Private Economic Development Project, focusing on clearing bottlenecks and removing institutional barriers; aiming to create a favorable, safe and transparent environment to activate and mobilize maximum resources, exploit potential, intelligence and entrepreneurial spirit; promote innovation and enhance the competitiveness of the private economy.

Ha Anh

Source: https://doanhnghiepvn.vn/kinh-te/chinh-sach/thao-go-kho-khan-trong-hoat-dong-cua-quy-bao-lanh-doanh-nghiep-nho-va-vua/20250326122258382