Seminar "Promoting the role of commercial banks in implementing Resolution 68" - Photo: VGP/HT
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 .
Commercial banks accelerate support for private enterprises
At the seminar, Mr. Nguyen Phi Lan - Director of the Department of Forecasting, Statistics - Monetary and Financial Stabilization (State Bank) said that 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 debts with the private economic sector, of which about 209,000 small and medium enterprises have incurred outstanding debts. 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.
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.
Mr. Nguyen Phi Lan - Director of the Department of Forecasting, Statistics - Monetary and Financial Stability (State Bank) - Photo: VGP/Duong Tuan
Removing institutional bottlenecks – Shaping the capital ecosystem
Mr. Le Hoang Chau - Chairman of the Ho Chi Minh City Real Estate Association assessed: 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 the difficulties in this industry.
However, reality shows that businesses still face barriers in accessing medium and long-term capital.
"In reality, bank credit is still the main capital channel because the capital market has not developed accordingly. Currently, the whole country only has about 63 listed real estate enterprises, while the whole industry has thousands of enterprises operating," Mr. Chau shared.
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 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 and the bond market.
Mr. Le Hoang Chau - Chairman of Ho Chi Minh City Real Estate Association - Photo: VGP/Duong Tuan
Sharing the same view, Dr. Dau Anh Tuan, Deputy General Secretary, Head of Legal Department, Vietnam Federation of Commerce and Industry - VCCI, said that one of the highlights of Resolution 68 is its specificity, high practicality and rapid institutionalization. The National Assembly's promulgation of the Law on Credit Institutions (amended) in a short time is a clear demonstration of the effort to improve the legal framework for credit.
In particular, Dr. Dau Anh Tuan compared credit to "gasoline for gasoline-powered vehicles", meaning that 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.
According to a representative of VCCI: One of the current limitations is that the group of small, micro and creative enterprises still has a problem with capital. Although accounting for 97-98% of the total number of enterprises nationwide, most of this group still has to seek informal capital sources, which are potentially risky.
According to Dr. Dau Anh Tuan, although the SME support funds and credit guarantee funds have been established, they are not operating effectively. 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. But 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 emphasized.
Dr. Dau Anh Tuan, Deputy Secretary General, Head of Legal Department, Vietnam Federation of Commerce and Industry - VCCI - Photo: VGP/Duong Tuan
Emphasizing the technology factor, Ms. Nguyen Bao Thanh Van - Deputy General Director of VietinBank said: VietinBank has put forward a specific action program.
Firstly, VietinBank strengthens internal communication and trains RM (Relationship Management Specialist) team to help customers understand the State's policies, understand the characteristics of each customer group, especially individual business households in the process of transforming into enterprises.
Second, the bank builds 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%). Loan packages are designed specifically for each industry and business goal to ensure the highest suitability and efficiency.
Currently, in the spirit and policy of digital transformation and digitization of the Government, VietinBank has applied digital transformation technologies to serve customers, especially private enterprise and SME customers. VietinBank is using AI to analyze and appraise based on cash flow data and based on the customer value chain.
VietinBank also integrates data between banks, tax authorities and management agencies to collect customer information quickly and accurately to promptly make appraisal decisions for customers.
Problems related to customers, tax policies, and unclear declarations have been resolved by Resolution 68. This is also an opportunity for VietinBank to apply its digital technology platforms to deploy credit products and services such as online disbursement, helping customers save valuable time.
VietinBank also cooperates with software companies such as MISA and KiotViet to provide financial and sales management tools for newly established businesses, helping them increase their management capacity and meet more transparent loan requirements.
"We hope to have the support and assistance of the State Bank, together with the entire banking system, to implement the spirit of Resolution 68 to develop healthily, towards achieving the Government's priority goals. In the risk management for SME customers, a new approach is also needed. Regarding the competitive environment, VietinBank affirms its stance of always supporting healthy competition - where banks accompany businesses based on sustainable values, dedicated services, flexible financial solutions and long-term commitment", VietinBank leaders expect.
Ms. Nguyen Bao Thanh Van - Deputy General Director of VietinBank - Photo: VGP/Duong Tuan
According to Mr. Nguyen Phi Lan, Resolution 68 has the consistent goal of perfecting the legal framework and operating the currency flexibly and proactively. In particular, the handling of bad debt has had a major change when the National Assembly passed the Law on Credit Institutions (amended) integrating the spirit of Resolution 42. The banking sector has also been assigned to implement large-scale credit packages, such as VND500,000 billion for infrastructure investment, VND300,000 billion for short-term credit and VND80,000 billion for small and medium enterprises.
However, according to Mr. Lan, to be truly effective, capital must be used for the right purposes. Therefore, Resolutions 138 and 139 of the Government have assigned the task of inspection and supervision to the State Bank and ministries and branches to ensure that credit does not flow into risky and speculative areas.
Dr. Dau Anh Tuan said that connecting information between banks, tax authorities, and the treasury will help banks access data on legal compliance of enterprises instead of relying solely on loan records. This helps improve credit assessment capacity and expand credit for innovative enterprises without collateral. One point worth noting is that current IPO regulations are too strict, preventing many technology enterprises, despite their potential, from being listed on the stock exchange. Resolution 68 and the Law on Science and Technology have initially addressed this issue by proposing to build a separate stock exchange for innovative enterprises.
"These policies, if implemented vigorously, will contribute significantly to helping the capital ecosystem become more comprehensive - not only relying on banks but also having a healthy stock market, investment funds, and corporate bonds," emphasized Dr. Dau Anh Tuan.
Mr. Minh
Source: https://baochinhphu.vn/nghi-quyet-68-don-bay-de-ngan-hang-dong-hanh-cung-kinh-te-tu-nhan-102250627161349042.htm
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