What are some ways to promote sustainable consumption?

At the "The Year Ahead 2026" forum organized by Bloomberg Businessweek Vietnam on April 10th, Mr. Michal Skalicky – Director of Customer Relations at Home Credit Vietnam – affirmed that the key is not the amount of capital raised, but how that capital reaches the people.

"The issue isn't how much capital we raise, but how responsibly and inclusively we implement it—meaning no one is left behind, and every loan helps improve the lives of our clients," Michal emphasized during the discussion on capital flows.

Mr. Michal Skalicky – Director of Customer Relations at Home Credit Vietnam, shared his insights at the forum.

Mr. Michal pointed out that the company's target customer segment typically consists of those new to the labor market or first-time users of financial services. With approximately 35 million people lacking credit history, this group faces the most barriers to accessing traditional banking systems. So how can capital be allocated to households to sustainably boost consumption?

He affirmed: “More credit isn't always better. What's important is smarter and higher-quality allocation. At Home Credit, financial solutions are tailored to each individual, helping them stay proactive in the face of life's uncertainties. This is how consumer finance becomes a trusted foundation, improving the quality of life for Vietnamese people.”

Data from the Ministry of Finance shows that Vietnam needs 38.5 million billion VND for the next five years – an ambitious figure given the complex geopolitical context. Brook Taylor, CEO of VinaCapital, noted that achieving a 10% growth rate is a significant challenge, given the economy's heavy reliance on bank credit (accounting for 146% of GDP). He recommended that Vietnam diversify its capital sources through the stock and bond markets to alleviate the burden on the banking system.

Sharing the same view, Mr. Tran Hung Huy, Chairmanof ACB, warned about the overload faced by domestic banks due to national mega-projects. He noted that the race to offer high deposit interest rates is pushing capital costs to almost unsustainable levels for real businesses. Meanwhile, Mr. Rich McClellan, CEO of VIFC, placed his hopes on the International Finance Centre as a long-term strategy to attract international capital into Vietnam – which remains considered the most attractive destination in the region.

Looking at the bigger picture, while financial experts focus on large capital investments and infrastructure, Home Credit chooses to unlock capital flows through personal consumption. By expanding into education , repairs, and transportation with a philosophy of "quality capital allocation," it not only helps boost GDP but also protects the financial health of consumers. This is the missing piece for Vietnam to not only reach the $1.5 trillion mark but also achieve sustainable and inclusive growth in the new era.

Source: https://doanhnghiepvn.vn/kinh-te/tai-chinh-ngan-hang/cach-nao-giup-thuc-day-tieu-dung-ben-vung/20260414043550689