SBV: Credit institutions actively lend to small and medium enterprises

According to the State Bank of Vietnam, currently most credit institutions (CIs) have participated in lending to the small and medium-sized enterprise sector. 

Recently, at the headquarters of the State Bank of Vietnam (SBV), the State Bank in collaboration with the Association of Small and Medium Enterprises (SMEs) held a conference on "Solutions to increase access to credit capital for small businesses". while recovering and developing production and business".


Speaking at the conference, Ms. Ha Thu Giang - Director of the Credit Department for Economic Sectors said that on the basis of closely following the Resolutions of the National Assembly, the direction of the Government, the Prime Minister and the State Bank of Vietnam, the SBV issued , implemented many policies on monetary, credit and banking activities to create favorable conditions for small and medium enterprises (SMEs) to access capital.


Accordingly, the State Bank of Vietnam regulates interest rates in line with market movements to stabilize the money market, control inflation and support reasonable growth, and at the same time create favorable conditions to reduce costs for businesses and people. ; 


regulations on the ceiling interest rate for short-term loans in VND (HM: VND) for priority areas for development (including SME) are 1-2%/year lower than normal production and business sectors. .


Most recently, on March 14, 2023, the State Bank reduced this interest rate by 0.5% to help reduce borrowing costs for customers (currently 5%/year).


The management of credit policies in line with actual developments, directing credit institutions to improve credit quality, creating favorable conditions in accessing credit capital for businesses and people, in 2022, the State Bank has decided decided to adjust the credit target by 1.5-2% for the whole system of credit institutions to provide capital for the economy. 


In 2023, the State Bank of Vietnam orients credit growth to about 14-15% with adjustments in line with developments and actual situations to meet capital for the economy.


In the Directives on the organization and implementation of key tasks of the banking sector and the guiding documents on credit activities, the State Bank has directed credit institutions to concentrate loans for this economic sector. .


Implement specific credit programs for industries/fields, in which the beneficiaries are SMEs with many preferential mechanisms on interest rates, incentives on collateral, and specific debt settlement mechanisms. .


The bank of Viet Nam

In addition, the SBV directed credit institutions to synchronously deploy solutions to remove difficulties for SMEs to access capital. In particular, actively cooperate with international organizations (ADB, JICA, WB...) to implement low-interest lending programs for SMEs.

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In order to support SMEs to increase their access to credit, and to implement the Law on Supporting SMEs, the State Bank of Vietnam issued Circular No. 45/2018/TT-NHNN dated December 28, 2018 guiding credit institutions to coordinate with the Guarantee Fund. 

credit in lending to SMEs guaranteed by the Credit Guarantee Fund in the localities; direct credit institutions to coordinate with the SME Development Fund to lend to SMEs from the Fund's capital.


In addition, the Bank for Social Policies has also implemented many preferential lending policies for SMEs.


Currently, most credit institutions have participated in lending to the SME sector, in the period 2018-2022, on average, credit outstanding for SMEs increased by 14.17%, higher than the average of the whole economy. By the end of 2022, credit balance for SMEs increased by 8.28% compared to the end of 2021, accounting for nearly 19% of the total credit outstanding of the whole economy.


Outstanding loans for SMEs mostly focus on trade and services (56.29%), industry and construction (40.85%). State-owned commercial banks that are lending to SMEs account for 48.05%, joint-stock commercial banks make loans for 47.43%, foreign banks, joint venture banks, finance companies and cooperative banks participate in lending to SMEs. loan 4.52%.


At the Conference, the delegates had many opinions to speak, exchange and discuss focusing on the assessment of the operation situation of SMEs; implementation of mechanisms and policies to support SME development under the SME support law; programs, credit policies, banking products and services to meet the capital needs for production and business of SMEs.


In particular, the delegates discussed difficulties and obstacles and proposed solutions to overcome difficulties to support the development of SMEs in general and increase credit access in particular from the perspective of businesses. , banks, associations and State management agencies, especially evaluating the effectiveness of the guarantee mechanism for SMEs to access capital of the SME Guarantee Fund and the SME Development Support Fund.

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