This is the content discussed at the Seminar "Promoting the role of commercial banks in implementing Resolution 68" organized by the Government Electronic Information Portal on June 27, in Hanoi .
Accelerating private enterprise support
At the Seminar, Mr. Nguyen Phi Lan, Director of the Department of Forecasting, Statistics - Monetary and Financial Stabilization (State Bank) said: By June 18, 2025, the total outstanding credit balance of the whole system reached 16.73 million billion VND, an increase of 7.14% compared to the end of 2024, an increase of 18.71% compared to the same period in 2024.
It is noteworthy that 100 credit institutions have incurred outstanding loans to the private economic sector, including about 209,000 small and medium enterprises. This is evidence of the spread of credit capital to business segments - from manufacturing, services to real estate.
According to Mr. Lan, policies to support businesses during difficult times have been effective. Specifically, the banking system has implemented debt restructuring, interest rate reduction and exemption, digitalized lending processes, shortened processing time and capital access.
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Mr. Nguyen Phi Lan. (Photo: VGP) |
The highlight of Resolution 68 is to encourage enterprises to build a transparent financial ecosystem and strengthen financial management. At the same time, it creates conditions for enterprises to invest systematically and reduce dependence on bank capital through diversifying resources such as bonds, stocks, joint ventures, associations, and mobilization from domestic and foreign investors.
Shaping the Capital Ecosystem
Mr. Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association, assessed that Resolution 68 is one of the biggest “policy pillars” to promote the private economy. Especially for the real estate sector, the resolution contributes to solving legal problems - accounting for 70% of difficulties in this sector.
However, reality shows that businesses still face barriers in accessing medium and long-term capital.
The Chairman of the Ho Chi Minh City Real Estate Association proposed that the Government should encourage people to make long-term savings deposits so that banks have a basis for safe lending. At the same time, it is necessary to develop more investment funds and amend IPO regulations to promote the stock market to become an effective capital channel, reducing pressure on the banking system.
In addition, Mr. Le Hoang Chau emphasized the role of enterprises in improving their management capacity, which is a vital requirement. If they do not change, they will be eliminated after shocks such as COVID-19...
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Dr. Dau Anh Tuan (Photo: VGP) |
Sharing the same view, Dr. Dau Anh Tuan (Vietnam Federation of Commerce and Industry - VCCI) said that credit is like "gasoline for gasoline-powered vehicles" - that is, credit costs greatly determine the operating capacity of enterprises. Therefore, reasonable and flexible interest rate management is a vital factor in the modern business environment.
New approaches needed for small, innovative businesses
A representative of VCCI said that one of the current limitations in the group of small, micro and creative enterprises is still the problem of capital. Although accounting for 97-98% of the total number of enterprises nationwide, most of this group still has to seek informal sources of capital, which are potentially risky.
According to Dr. Dau Anh Tuan, the current funds to support small and medium enterprises and the Credit Guarantee Fund, although established, are operating ineffectively. Resolution 68 has proposed a solution to reorganize the funds according to market mechanisms, accepting controlled risks to support the right subjects.
In particular, Dr. Dau Anh Tuan believes that banks need to be empowered to lend based on cash flow, instead of relying solely on collateral. However, to do this, many restrictive regulations need to be amended. “We cannot only lend when there is collateral, but we must trust businesses with good cash flow and real potential,” Mr. Dau Anh Tuan suggested.
Emphasizing the technology factor, Ms. Nguyen Bao Thanh Van, Deputy General Director of VietinBank, said that VietinBank has launched a specific action program to help customers understand the State's policies and the characteristics of each customer group, especially individual business households in the process of transforming into enterprises.
The bank has developed specialized credit packages for private enterprises and SME customers, with preferential interest rates from 5%/year - lower than the average 12-month deposit interest rate (currently at 5.2 - 5.3%). The loan packages are designed specifically for each industry and business objective to ensure the highest suitability and efficiency.
VietinBank representative affirmed the viewpoint of always supporting healthy competition - where banks accompany businesses based on sustainable values, dedicated services, flexible financial solutions and long-term commitment.
At the end of the discussion, Mr. Nguyen Phi Lan affirmed that Resolution 68 has very detailed and specific solutions, including both short-term and long-term, with very clear and specific assignments for ministries and branches. Resolution 198 of the National Assembly has further concretized the solutions from Resolution 68. Next, the Prime Minister has assigned and assigned very clearly to ministries, branches and related units, immediately issuing Resolutions 138 and 139. The ultimate goal is to create conditions for the private economic sector to access capital and develop.
For the banking industry, in the process of accompanying the private economic sector, it always attaches importance to how to create the most open environment, helping private enterprises access capital sources.
Mr. Lan also emphasized the creation of a healthy competitive environment in addition to supporting the . In Resolutions 138 and 139, the Prime Minister assigned the responsibility to the State Bank and ministries and branches, in addition to creating conditions for enterprises to access capital, they must also conduct inspections and checks on issues related to lending, to ensure that capital is used for the right purposes and targets, avoiding the case of money flowing into risky areas, causing instability for the economy. This is one of the solutions to ensure that enterprises have access to capital while ensuring safety for the enterprises themselves.
Source: https://baophapluat.vn/phat-huy-vai-tro-cua-cac-ngan-hang-thuong-mai-trong-thuc-hien-nghi-quyet-68-post553338.html
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