Business

Financial assistance measures necessary for small, medium enterprises

The Government should carry out financial assistance measures appropriate for small- and medium-sized enterprises (SMEs) to develop the support industry, said delegates to the Vietnam-Japan Support Industry Forum in Ho Chi Minh City on July 8.
The Government should carry out financial assistance measuresappropriate for small- and medium-sized enterprises (SMEs) to developthe support industry, said delegates to the Vietnam-Japan SupportIndustry Forum in Ho Chi Minh City on July 8.

According to economists, two thirds of SMEs in Vietnam do not haveaccess to loans due to high interest rates or no guaranteed assets. Assuch they face difficulties in renovating technologies and expandingproduction.

Hiroshi Tahara, Chief Representativeof the Japan Finance Corporation in Thailand, said that besidesaccessing low interest rate loans, JSMEs in Japan receive a guaranteefor their loans from the National Federation of Credit GuaranteeCorporations.

He suggested Vietnam set up a local-level guarantee mechanism to control loans and help businesses easily access them.

Delegates also proposed establishing a loan fund with low interest rates.

The proposals will be collected and submitted to the Government for thorough consideration.

The forum was jointly organised by the Ho Chi Minh City ExportProcessing and Industrial Zones Authority and the Japan External TradeOrganisation (JETRO).-VNA
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