While textiles is one of the key industries in Viet Nam with high export revenue, it is also among industries that pose a high environmental and social risk, according to Nguyen Quoc Hung, general secretary of Viet Nam Bankers Association.
More administrative reform is needed in the banking industry to make it easier for businesses and individuals to get credit, experts told a conference in HCM City on May 16.
Small and medium-sized enterprises (SMEs) are unhappy that banks do not provide them with credit to upgrade technologies, but the banks say they are willing to lend if the companies meet certain conditions.
The Viet Nam Coffee and Cacao Association (Vicofa) proposed to the
state that it launches credit support for the local coffee firms
competing with foreign companies.
Credit in Ha Noi''s commercial banks in the first seven months of
the year rose 11.8 per cent against December last year to reach VND1,384
trillion (US$61.785 billion), the Ha Noi General Statistics Office
estimated.
Viet Nam''s consumer loans hit a five-year record high of US$15.12
billion last year, according to a new report from local market research
company StoxPlus.
A conference that opened yesterday in the capital brought together
Government and business representatives in order to address the
difficulties that enterprises currently face.
The programme to establish stronger links between commercial banks and
enterprises to facilitate access to preferential credit will expand this
year to include small traders, a senior HCM City official said
yesterday.
Viet Nam Oil and Gas Group (PetroVietnam) on Monday signed credit contracts worth US$795.25 million with international banks to finance exports and a power project.