ACB pioneers in realizing Resolution 68 with concrete actions

ACB General Director Tu Tien Phat discussed at the seminar "For the private economy to break through according to Resolution 68 - Things to do immediately" - Photo: VGP

ACB's customers are the focus of the policy.

Resolution 68-NQ/TW of the Politburo was issued with great expectations: Making the private economic sector the most important driving force of the national economy. This is not only a recognition of the role, but also a call for the entire business support ecosystem, especially the banking and financial system, to change dramatically to accompany more closely.

For ACB, the content of Resolution 68 is not outside the constant concerns of customers. More than 95% of ACB's corporate customers are currently small and medium-sized private enterprises (SMEs) - the group that has been identified, given expectations, and is also the direct beneficiary of these reform policies. From tax exemptions, improved access to land to credit priority - all have immediate impacts on the operational capacity, cash flow, and development opportunities of ACB's customers.

As a leading partner of Vietnamese SMEs as well as the FDI sector, ACB determines that it must act first, act quickly, and act correctly, to both adapt to changes and support customers in seizing policy opportunities promptly and effectively.

In the seminar "For the private economy to break through according to Resolution 68 - things that need to be done immediately" organized by the Government Electronic Information Portal on May 9, Mr. Tu Tien Phat commented on the policies put forth in Resolution 68, especially the group of credit solutions, which are breakthrough steps and closely follow the operational practices of private enterprises, especially the group of SMEs.

The exemption of corporate income tax for the first three years of establishment is considered a positive signal for young businesses to have more time to accumulate. At the same time, the policy of supporting the lease of unused public land in the locality will also open up significant resources to reduce the pressure on land costs, which is currently a heavy burden for businesses in urban and industrial areas.

From the perspective of commercial banking, ACB is particularly interested in solutions related to credit mechanisms. The completion of credit policies for the private economic sector and the orientation of "prioritizing a portion of commercial credit for SMEs" is a remarkable step forward, but a clear legal corridor is needed. In that context, the completion of the Credit Guarantee Fund model and the Small and Medium Enterprise Development Fund is very necessary. These funds will act as "intermediary supports", sharing risks with banks, creating conditions for credit institutions to be more confident in providing capital to potential enterprises with innovative and creative business models.

ACB announced a series of special policies to contribute to the implementation of Resolution 68.

Special solutions on capital, digital transformation, market expansion, and sustainable development.

As the first bank to take action immediately after Resolution 68 was issued, ACB announced a series of special policies to contribute to the implementation of Resolution 68 revolving around four pillars: capital, digital transformation, market expansion, and sustainable development:

Accompanying in capital solutions,   ACB has launched a total support package of VND40,000 billion, of which VND20,000 billion is reserved for SMEs, VND20,000 billion is for large enterprises investing in infrastructure and digital technology to promote chain credit. Preferential interest rates are 2% or more lower than normal interest rates. Loans without collateral are given priority to export enterprises; supply chain credit financing; unsecured overdrafts for SMEs.

Accompanying in digital transformation activities, ACB provides superior payment solutions to help SMEs and business households easily manage their business and optimize finances.

Accompanying in market development activities, ACB is a bridge to connect Vietnamese SMEs and business households, thereby reaching more than 8 million potential customers through meetings, connections and providing free promotional solutions on ACB's digital banking channel.

Accompanying Vietnamese SMEs in green transformation and sustainable development, ACB consults, provides credit, and accompanies Vietnamese SMEs in ESG activities.

Source: https://baochinhphu.vn/acb-tien-phong-hien-thuc-hoa-nghi-quyet-68-bang-hanh-dong-cu-the-102250509161110082.htm