Only about 30 percent of small and medium-sized enterprises (SMEs) have gained access to bank loans, while the rest have to borrow from other sources at high interest rates.
HCM City (VNA) – Only about 30 percent of small and medium-sized enterprises (SMEs) have gained access to bank loans, while the rest have to borrow from other sources at high interest rates, according to the Science Institute of SMEs Management (S🦹ISME).
The figure, part of results of a SISME survey, was released at a conference held in Ho Chi Minh City on January 13 to seek ways to improve SMEs’ access to loans. Experts attributed this to the SMEs’ lack of collateral which they said, has made it difficult for them to borrow.
SMEs contribute nearly 40 percent of the gross domestic product, and generate 50 percent of jobs nationwide, they said.
Do Tan Truc, head of the business support office under the Ho Chi Minh City Credit Guarantee Fund for SMEs, said the city is taking measures to address the problem through programmes on demand stimulation and linking businesses with banks.
He said his office is ready to provide consultation to the SMEs.-VNA
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