Workers sort ballpoint pens at a Thien Long Production and Trading Co Ltd factory. — VNA/VNS Photo Danh Lam A fifth of all Vietnamese enterprises do not have access to financial loans, according to the Viet Nam Chamber of Commerce and Industry (VCCI). Capital is a vital resource for a business to develop. Most local enterprises now have very high demand for capital funding in the short-, medium- and long-term, VCCI reported in a meeting on Friday. Credit lending granted by financial institutions is an important channel, VCCI said. To help local companies approach those sources, the Government, ministries, related agencies and lenders must work on a comprehensive joint policy. But due to the low quality of corporate governance and poor financial management, a large number of Vietnamese firms, mostly small- and medium-sized enterprises (SMEs), have not succeeded in winning loans from banks and financial institutions. According to Nguyen Viet Hung from the Ministry of Finance’s Department of Banking and Financial Institutions, lending policies for SMEs are still limited and incomplete. Some rules lag behind while some are not feasible, he said, adding that the financial capacity of banks and financial institutions is also limited. SMEs have also remained unprofessional… Read full this story
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