Nearly 80% of Dak Nong private enterprises have not been able to borrow capital from banks.

Enterprises operating in the private economic sector in Dak Nong need to remove obstacles in capital sources to create momentum for breakthroughs.

Private enterprises have difficulty accessing capital

Dak Nong currently has about 3,800 operating enterprises, with a total registered capital of nearly 40,000 billion VND. In recent years, the private economy of the country in general and Dak Nong in particular has continuously developed, contributing to socio-economic development.

Enterprises in the economic sector still face difficulties in the process of developing scale and improving competitiveness.

However, businesses in this economic sector still face difficulties in the process of expanding their scale and improving their competitiveness. One of the biggest barriers in the process of developing the private economy is capital.

According to data from the State Bank of Region XI, out of 3,800 operating private enterprises in Dak Nong , only about 900 enterprises have received loans from credit institutions.

This means that nearly 80% of private enterprises in the province have not or will not borrow capital from banks. The total outstanding credit balance for enterprises is nearly 8,000 billion VND, accounting for nearly 1.6% of the total outstanding debt of the entire economy in Dak Nong.

Dak Nong has about 900 enterprises out of more than 3,800 enterprises operating in the private economic sector that have access to capital from credit institutions.

Chairman of Dak Nong Business Association Nguyen Tri Ky said that capital and land policies are the lifeblood of businesses. Borrowing capital and having a stable source will be a prerequisite for any business that wants to develop sustainably.

“The problem of limited access to capital at credit institutions is also a barrier to private economic development,” Mr. Ky affirmed.

Assessing businesses in Dak Nong, Deputy Director of the Joint Stock Commercial Bank for Investment and Development ( BIDV ) Dak Nong Branch Pham Quoc Viet said that Dak Nong businesses are mainly small and micro enterprises (SMEs).

Credit institutions today find it very difficult to assess the actual financial capacity of customers. Especially the financial reporting system, tax accounting, and business cash flow.

There is no shortage of bank capital, but many businesses cannot access it.

Most businesses have financial reporting systems that do not accurately reflect their business performance. Some fixed assets are invested in, but are not included in expenses due to lack of accounting.

“Most of the financial statements of enterprises are not audited. Some tax settlements report regular losses. This is also the reason why the flow of capital from enterprises to credit institutions for corporate customers is still limited,” Mr. Viet affirmed.

Discussing the difficulties in accessing capital, Mr. Nguyen Kha, Director of Dai Dung Joint Stock Company, Cu Jut District (Dak Nong) said that the company's total investment is more than 500 billion VND. However, the company has not been able to borrow any money from banks in Dak Nong.

"We want the locality to create conditions for us to access bank loans. Because in the difficult economic context, it is impossible for businesses to invest 100% of their own capital," Mr. Kha affirmed.

Leverage for private economic development

For banks, businesses are not only customers but also important strategic partners in the financial ecosystem. The mutual relationship between banks and businesses plays an important role in promoting sustainable economic growth.

Currently, credit institutions have implemented many credit loan packages for businesses, with very preferential interest rates.

To achieve this, both sides need to build trust, strengthen cooperation and strive to overcome challenges to develop together. According to credit institutions, there are currently many credit loan packages for businesses, with very preferential interest rates.

For example, the Bank for Agriculture and Rural Development (Agribank) has a preferential loan program to finance investment projects for businesses, with an interest rate of 6%/year.

BIDV Dak Nong Branch also launched a short-term credit package for businesses with a scale of 300,000 billion VND, with interest rates from 5.5 - 6%/year; a short-term credit package for small and medium enterprises with a scale of 80,000 billion VND, with interest rates from 5.5 - 6%/year...

In addition, other banks such as Vietinbank, Vietcombank, Nam A bank... also have attractive preferential loan packages for businesses.

In particular, after the Politburo's Resolution 68/NQ-TW on private economic development, capital sources for this sector have more potential.

To access capital, private enterprises must make efforts to change and enhance their value.

However, to access capital, businesses must make efforts to change and improve their value. According to Deputy Director of the State Bank of Vietnam Region XI Pham Thanh Tinh, it is none other than businesses that constantly improve their management, financial reporting, operations, and labor training. Units develop effective investment plans and methods that are appropriate to their financial, technological, and human capacity.

“When businesses can do that, we believe that businesses do not need to borrow, but credit institutions will come to businesses. Because now, competition between banks is getting higher and higher. Banks are proactively looking for reputable and feasible customers to accelerate capital flow,” Mr. Tinh affirmed.

In fact, in recent times, many enterprises in Dak Nong have been expanding production and business by investing in technology and modern machinery for specialized production and value enhancement. However, this number is still limited.

Many businesses need support from banks to develop production and expand scale.

Small, medium and micro enterprises play an important role in the chain of goods circulation. Creating a favorable operating environment for enterprises in general and small enterprises in particular is very necessary.

Businesses must continuously enhance their value through improving their financial situation, building viable business plans and effectively managing risks.

A business with good financial potential, transparent credit history and clear development strategy will always be a reliable partner of the bank, thereby easily accessing preferential capital sources to serve long-term development.

Source: https://baodaknong.vn/gan-80-doanh-nghiep-tu-nhan-dak-nong-chua-vay-duoc-von-tu-ngan-hang-254527.html