An overview of the seminar in Hà Nội on September 29. Photos courtesy of NATIF

HÀ NỘI — The National Technology Innovation Fund (NATIF) and commercial banks are working more closely to help businesses access loan interest subsidies faster, bridging the gap between policy and practice for firms investing in technological innovation.

Access to finance remains a major barrier to such investment. Drawing on their experience implementing interest subsidy programmes, NATIF and banks are standardising application documents, clarifying procedures and addressing bottlenecks to get support to eligible projects more quickly.

At a seminar organised by NATIF in Hà Nội on September 29 to discuss ways to streamline applications, businesses outlined the difficulties they face when investing in new technology. These included a mismatch between the timing of investment and their financing needs.

In the early stages of a project, businesses typically use borrowed funds to build or expand factories and workshops. Demand for financing to purchase machinery, equipment and technology comes later. Banks and NATIF therefore need to provide advice and closely monitor project progress to help businesses access support suited to their needs at each stage.

Application requirements present another hurdle. Many businesses are applying to NATIF’s interest subsidy programme for the first time and are unfamiliar with the documentation required. Limited information or uncertainty about procedures can prolong the process, as applicants spend additional time preparing documents or supplying missing information.

Speaking at the seminar, NATIF Director Bùi Quang Minh urged banks to continue helping businesses obtain information, understand procedures and submit applications online in line with the requirements.

Minh said NATIF would assign dedicated staff to work regularly at partner banks, facilitating information sharing and promptly addressing issues arising during the application process.

NATIF Director Bùi Quang Minh speaking at the seminar.

Representatives of VPBank and BIDV proposed that NATIF develop standard application templates so businesses could prepare the necessary documents from the outset. They also called for concise, step-by-step guidance to help credit officers advise applicants and guide them through the procedures.

The banks said standardised documents and guidance would make the programme easier to access and ensure greater consistency in how banks and NATIF handle applications, reducing repeated requests for additional information.

The discussions helped inform preparations for NATIF’s second call for loan interest subsidy applications, expected in early October 2026.

NATIF and the banks agreed to strengthen co-operation, focusing on barriers involving information, documentation and procedures. The aim is to get interest subsidies to technological innovation projects more quickly, encouraging investment in machinery and equipment and increasing production capacity.

Established under the Prime Minister’s Decision No. 1342/QĐ-TTg of August 5, 2011, NATIF is a state financial organisation under the Ministry of Science and Technology. It provides grants, loan interest subsidies and financial support vouchers, and commissions innovation projects from Vietnamese businesses and organisations.

Closer co-operation with banks, standardised documentation and clearer guidance are expected to make its support programmes more effective, helping funds reach eligible recipients and encouraging businesses to invest in technology, improve productivity and strengthen competitiveness. — VNS