On August 10, at the Government Headquarters, Member of the Party Central Committee, Deputy Prime Minister Nguyen Van Thang chaired a working session with ministries, branches, localities and businesses to resolve difficulties and obstacles in accessing credit capital.
According to the Government Authority of Information and Communications, concluding the working session, Deputy Prime Minister Nguyen Van Thang clearly stated that, through the opinions of the business community and the reality of production and business activities, access to credit capital is still a bottleneck that needs to be focused on handling, especially in terms of interest rates, loan conditions, collateral, procedures, appraisal methods and non-banking problems related to land, construction investment, assets and markets.
The Deputy Prime Minister emphasized that capital must come to the right place, at the right time, to the right target, for the right purpose and at reasonable costs. Credit must create new production capacity, new productivity and new growth momentum.
Banks and businesses are long-term partners, so this is the time to share in difficult times.
The Deputy Prime Minister especially noted that attention should not only be paid to the announced interest rate but also to the actual capital costs that businesses have to pay. It is necessary to be more transparent about interest rates, fees and related costs so that businesses can choose and access capital sources at reasonable costs.
Banks need to pay attention to control, not allowing their officials to harass negativity and make it difficult for businesses.
It is necessary to strongly innovate lending products and methods. The Deputy Prime Minister emphasized that one credit product and one appraisal method cannot be used for all businesses.
Therefore, credit institutions need to study and strongly shift to designing products by industry, by value chain, by cash flow and risk level.
Government leaders also noted that supporting difficult businesses with the ability to recover should not let good businesses lose business opportunities due to lack of capital.
Banks cannot and should not be the sole source of capital for the economy. The Ministry of Finance continues to coordinate with the State Bank of Vietnam (SBV) and relevant ministries and sectors to healthyly develop the stock market, corporate bonds, international financial market, investment funds, creating conditions for businesses to have more suitable capital mobilization channels.
The Deputy Prime Minister requested the SBV to coordinate with VCCI and business associations to fully summarize the recommendations at the meeting, divided into 3 groups: the first group is issues that can be handled immediately according to current regulations; the second group, issues that need to be studied, guided or coordinated inter-sectorally; the third group, issues that need to amend and supplement mechanisms and legal policies.
Each proposal must clearly identify the presiding agency, coordinating agency, output products and completion deadlines.
The Deputy Prime Minister requested the entire system to thoroughly grasp the spirit of: clearing capital flows, reducing capital costs, innovating lending methods, improving capital absorption capacity, creating momentum for rapid and sustainable growth.
In particular, do not let businesses with good projects, markets, and ability to repay debts but not access capital just because of unnecessary procedures or conditions. At the same time, do not let obstacles under the responsibility of state management agencies become barriers to credit capital flows.
