Business

COVID-19 makes nearly 10 pct of domestic firms lack capital: official

Nearly 10 percent of Vietnamese firms lack capital and money for their business, especially micro-, small- and medium-sized enterprises (MSMEs), because of the lingering COVID-19 pandemic, General Secretary of the Vietnam Chamber of Commerce and Industry (VCCI) Nguyen Quang Vinh has said.
COVID-19 makes nearly 10 pct of domestic firms lack capital: official ảnh 1Nearly 10 percent of Vietnamese firms lack capital and money for their business because of COVID-19. (Illustrative photo: VNA)
Hanoi (VNA) - Nearly 10 percent of Vietnamese firms lack capital and money for their business, especially micro-, small- and medium-sized enterprises (MSMEs), because of the lingering COVID-19 pandemic, General Secretary of the Vietnam Chamber of Commerce and Industry (VCCI) Nguyen Quang Vinh has said.

In addition, they face also market and material shortage due to the adverse impact of the pandemic.

To offset losses triggered by the pandemic, the Government rolled out various policies last year to help firms reduce operation costs and maintain finances.

A recent VCCI report with more than 12,000 respondents, however, showed that a large number of Vietnamese firms have difficulty in getting access to aid packages.

Insiders have voiced their opinions in favour of companies' capital mobilisation via the stock market, in an attempt to ensure the sustainable development of the financial market and stabilise the macro-economy, as well as sharpen businesses’ competitive edge./.
VNA
#COVID-19 #Vietnamese firms #Vietnam Chamber of Commerce and Industry (VCCI) #aid packages #macro-economy #vietnamplus #vietnam news agency
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