Standard Chartered Viet Nam has implemented a preferential credit package worth VND330 billion (roughly US$14.52 million) in an effort to promote business activities of SMEs in HCM City. — Photo courtesy of Standard Chartered Viet Nam

One of the major activities of Standard Chartered Viet Nam is to support Vietnamese small-and medium-sized enterprises (SMEs), affirmed Rajeev Chalisgaonkar, the bank’s global head of Business Banking.

Speaking at a workshop on enhancing the access of Vietnamese SMEs to capital and technologies in HCM City on November 22, Chalisgaonkar said the bank would assist the enterprises in capital management, business expansion and profit improvement.

Such solutions had been exclusively designed for the SMEs to facilitate their banking transactions, thus helping them fulfil their long-term targets, he said.

Standard Chartered Viet Nam has implemented a preferential credit package worth VND330 billion (roughly US$14.52 million) in an effort to promote business activities of SMEs in HCM City.

The package will mainly be used to realise the Bank-Business Connectivity Programme established by the State Bank of Viet Nam’s HCM City branch and the municipal Department of Industry and Trade and remove financial difficulties faced by the businesses. Standard Chartered Viet Nam is the first foreign bank to take part in the programme.

Vice President of the Viet Nam Chamber of Commerce and Industry (VCCI) Võ Văn Thành described SMEs as the backbone of the national economy and highlighted the significance of co-operation between the VCCI and the bank in assisting the businesses to access capital and technologies in the context of economic integration.

The collaboration would help the firms grasp business opportunities and achieve their targets at both domestic and foreign markets, he said. — VNS