(VOV) - More than 200 businesses from across the country gathered at a meeting in Nghe An on July 19 to discuss measures to boost sustainable development.
At the meeting, the Vietnam Association of Small-and Medium-Sized Enterprises (VASME) pointed out problems with credit loans, financing, market management, production, trade promotion and the quality of workforce.
Businesses are short of capital for production but find it difficult to access loans because of high interest rates. Around 30 percent of businesses are able to access bank loans but the remainder must use their own capital or borrow from other sources.
Nguyen Quoc Hung, Deputy General Director of the Bank for Agriculture and Rural Development (BARD) said that the bank focuses its loans for agriculture and rural development and considers small-and medium-sized enterprises (SMEs) to be strategic partners. The bank provides around VND15,000 billion in loans to businesses every year.
Participants at the meeting discussed measures to help SMEs develop sustainably in the future.
Vietnam has more than 500,000 SMEs, accounting for 98 percent of all businesses with a combined registered capital of more than VND2,000 billion. They create more than 40 percent of domestic consumer and export goods, make up nearly 45 percent of the total gross national product and contribute to nearly 40 percent of the State budget. They also generate more than a million new jobs each year, which contributes to reducing poverty and ensuring social welfare.