HCM City businesses lack funds, need loans: conference

June, 19/2022 - 18:02
Businesses in HCM City need more help in accessing favourable loans for recovery, experts have said.

 

A conference held in HCM City on Saturday sought to discuss measures to help businesses raise credit to fund their recovery. – Photo sggp.org.vn

HCM CITY – Businesses in HCM City need more help in accessing favourable loans for recovery, experts have said.

Speaking at a conference on June 18 on helping businesses access funds, Lý Kim Chi, chairwoman of the HCM City Food and Foodstuff Association, said food businesses are struggling with rising costs due to high petroleum prices and global complications, and are in dire need of funds.

The industry is unable to get enough funding on easy terms to cover the costs, and businesses are making a great effort not to increase prices.

She called on banks to consider lending more to them.

Nguyễn Phước Hưng, deputy chairman of the HCM City Union of Business Associations, said the economy is recovering, and businesses are in need of capital to mend broken supply chains.

They have great demand for credit, but obtaining loans remains difficult for many of them, he said.

“The association wants banks to have favourable policies to help businesses borrow, which will help small and medium-sized businesses … invest in production and recovery.”

Phan Văn Mãi, chairman of the city People’s Committee, said the focus is on helping businesses access capital for production and seeking out to them for their opinions.

Nguyễn Đức Lệnh, deputy director of the State Bank of Việt Nam’s HCM City branch, said the central bank has instructed banks to provide low-interest loans worth trillions of đồng.

Đào Minh Tú, deputy governor of the central bank, said businesses need all kinds of financial support, including easy loans and tax breaks.

The central bank would prioritise funds for production businesses to speed up recovery.

The conference was organised by the HCM City Union of Business Associations.  VNS

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