HCMC – The loan conditions of the financial aid package with an interest rate discount of two percentage points should be modified, according to the Vietnam Chamber of Commerce and Industry (VCCI).
VCCI has written to the Government Office and the Ministry of Planning and Investment underlining difficulties plaguing businesses in accessing the loans and suggesting modifications to the economic recovery solutions in the Government’s draft resolution.
The State Bank of Vietnam should be tasked with adjusting the loan conditions for the aid package as many enterprises, especially small and medium ones, find it extremely hard to meet the conditions of the package as prescribed in Government Decree 31/2022/ND-CP.
Particularly, loan conditions, including collateral requirements, loan limits, and interest rates, should be modified in favor of small and medium enterprises, VCCI said.
For the Small and Medium Enterprise Development Fund, the Government should find ways to call for funding from organizations and individuals, instead of just receiving and managing loans from the budget.
Additionally, the target of supporting 30,000 businesses in digitalization is not suitable to the current situation as the number of businesses is expected to reach 1.5 million in 2025, according to VCCI.
The Government should change the target of supporting businesses in digitalization and clarify the levels of digital transformation in the draft resolution.
Moreover, VCCI proposed additional solutions to promote start-ups and encourage business households to transform into enterprises as well as policies to support newly established business groups.