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Measures sought to facilitate businesses’ access to credit

A conference discussing solutions to facilitate businesses' access to credit and promote capital absorption of the economy took place on June 19 in Hanoi.
Measures sought to facilitate businesses’ access to credit ảnh 1Deputy Prime Minister Le Minh Khai speaks at the conference. (VNA) 
Hanoi (VNA) –A conference discussing solutions to facilitate businesses' access to credit and promote capital absorption of the economytook place on June 19 in Hanoi.

Chaired by DeputyPrime Minister Le Minh Khai, the event saw the participation of representativesfrom the State Bank of Vietnam, ministries, sectors, 10 commercial banks, and five trade associations.

Khai saidthanks to the resolute guidance of the Government and the Prime Minister, the macroeconomyhas been kept stable, inflation controlled, major economic balances maintained, and fiscal and monetary policies stabilised by a series of measures.

More measures should be taken to help businesses access capital, thuspromoting growth and completing socio-economic development goals in 2023, as well asin the 2021 – 2025 period, he said.

The official touched upon elements affecting access and absorption of capital, which arerelated to policies; loan and investment plans of businesses; financial, business,and production situation of enterprises; and interest rates.

Measures sought to facilitate businesses’ access to credit ảnh 2Illustrative image (Photo: VNA)
He underlined the role by commercial banks which directly interact withbusinesses and borrowers, saying that commercial banks should also payattention to creating favourable conditions for businesses to access capital.

Deputy Governor of the central bank Dao Minh Tu emphasised efforts by the bank in operating monetarypolicy in the first five months of 2023, noting that it has combined boththeory and practicality in its operation to support the economy and businesses.

He also highlighted specific measures to facilitate businesses and individuals' access to credit, saying the bank has required credit organisationsto make it easier for investors of real estate projects, and homebuyers toaccess credit when they meet all requirements; and focus on allocating fundsto real estate projects that meet legal requirements, and those having the capabilityto repay loans on schedule.

Credit organisations have been also ordered to consider providing creditfor investors, construction contractors, homebuyers, and suppliers of constructionmaterials in order to increase capital circulation and liquidity in the realestate market, the official added.

The bank hasimplemented policies to reschedule repayment terms, while promoting programmesto connect banks and businesses, and taking measures to help small- and medium-sizedenterprises and cooperatives access credit programmes, and to address difficulties facing theagricultural sector./.
VNA
#businesses' access to credit #capital absorption #commercial banks #trade associations #economic balances #fiscal and monetary policies #conference #Vietnamplus #Vietnam news #Vietnam News Agency

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