Conference seeks ways to help SMEs access capital
The two-day event, held by the Ministry of Industry
and Trade (MOIT) in conjunction with the APEC Secretariat, aims to
strengthen mutual understanding between the private sector and the
Government, thus enhancing their coordination efficiency.
According to MOIT Deputy Minister Le Duong Quang, support policies to
help SMEs and VSEs overcome barriers in their access to capital are
crucial for the viability and development of the firms, especially in
developing APEC countries.
Currently, more than 90
percent of businesses in Vietnam are SMEs and VMEs, according to
the MOIT. Despite their significant contributions to the country’s
socio-economic development, they remain vulnerable to changes in the
economy, such as policy and legal adjustments, it added.
Meanwhile, Indonesian Deputy Minister of Cooperatives and SMEs Choirul
Djamhari held that in order to help the firms overcome capital
difficulties, the commercial banks should give them at least 20 percent
of their total investment, while convincing commercial banks to adopt
more preferential policies for loans for production rather than
consumption.
Ha Thu Giang, deputy head of the state
credit policy office of the State Bank of Vietnam (SVB), said since May
2012, the SVB has cut the interest rate for short-term loans in VND for
SMEs eight times, from 15 percent to 8 percent currently.
At the same time, Professor Andrew Terry from Sydney University
held that capital access is a major problem for SMEs, therefore, the
Government should play a more active role in ensuring a favourable
environment and mobilising sources of capital for the firms.
He also stressed the importance of a stable macro-economy and an
effective finance base for SMEs and VSEs’ smoother access to capital.-VNA