A Vietcombank transaction office in Hanoi. (Photo: VNA) Nguyen Quoc Hung, VNBA’s General Secretary, said firms are facingmany difficulties as most of their reserve resources are no longeravailable while capital and real estate markets are still in gloomy times.
Although the Government and the Prime Minister haveproposed solutions to remove difficulties for firms and people, thecapital absorption capacity of the economy is still low.
In addition, Hung also proposed the Government direct ministriesand sectors to promote public investment and remove difficulties in legalprocedures for unfinished projects and social housing projects.
It is also necessary to implement the Law on Supporting Small andMedium Enterprises and improve the role of guarantee funds for small- andmedium-sized enterprises. Currently, there are 24 guarantee funds for small-and medium-sized enterprises in 24 provinces and cities, but their operationsare not efficient and need to be improved.
The Government should also review and evaluate the effectivenessof the Small- and Medium-sized Enterprise Support Fund under the Ministry ofPlanning and Investment and supplement its capital in order to support firmsthat have not yet met the conditions for loans at credit institutions.
Hung also suggested that the Government should reduce VAT forcommercial banks to ease them in sharply reducing lending interest rates tosupport firms.
At the same time, the Government should allow State-ownedcommercial banks to increase their charter capital from profits in the comingyears through the form of paying dividends in shares from profits left aftersetting up required funds for the 2022-2023 period.
As for relevant ministries and branches, the VNBA’s representativesuggested that the Ministry of Public Security closely coordinate with theState Bank of Vietnam, the Ministry of Information and Communications, andother ministries and sectors to strengthen and have solutions to thoroughlyhandle current cybercrime to ensure security and safety in payment activities.
In particular, it is recommended that the Ministry of PublicSecurity, the Procuracy, and the court study and consider returning exhibits incriminal cases to banks for timely sale and auction in order to limit lossesduring a seizure.
It is necessary to request the Supreme People's Court to directcourts at all levels to unify the form of handling disputes related to caseswhere property owners create fake disputes in order to prolong the time ofrecovering the collateral of credit institutions.
Besides, the Ministry of Finance should cooperate with relevantministries and sectors to develop a legal framework for the securitisation ofdebts, and issue guidance on the valuation of bad debts through the VietnamValuation Standards in accordance with the Pricing Law and form a debt tradingmarket, Hung said.
The General Department of Civil Judgment Execution should reviewoutstanding judgments related to the handling of collateral for bad debtrecovery./.
VNA
