At the Seminar, experts and managers shared the same opinion that since Resolution No. 68-NQ/TW of the Politburo on private economic development was issued, the business community is witnessing a clear change in management thinking and credit policy implementation.
However, for the private sector to truly become the leading driving force of the economy , one of the prerequisites is to direct credit flows to the right places to create competitiveness, jobs and real value.
The main speakers at the Seminar include: Dr. Nguyen Si Dung, Mr. Nguyen Phi Lan, Director of the Department of Forecasting, Statistics - Monetary Stabilization, Mr. Le Hoang Chau - Chairman of the Ho Chi Minh City Real Estate Association, Dr. Dau Anh Tuan, Ms. Nguyen Bao Thanh Van, Deputy General Director of the Vietnam Joint Stock Commercial Bank for Industry and Trade ( VietinBank ).
From “capital thirst” to growth opportunities
Difficulty in accessing capital has always been the biggest bottleneck for private enterprises, especially small and medium enterprises (SMEs). Although accounting for 97–98% of all enterprises, most SMEs still struggle with collateral requirements, credit records, and complex approval processes.
Dr. Dau Anh Tuan, Deputy General Secretary of VCCI, said: “Credit is like gasoline for gasoline-powered cars. Without enough capital, businesses cannot go far. If the cost of capital is high, businesses cannot operate effectively.”
Therefore, credit provision must not only stop at the level, but also change the method from "asset valuation" to "cash flow appraisal", evaluating the actual operating capacity of the enterprise instead of relying only on mortgage.
To meet the requirements of Resolution 68, commercial banks need to establish a modern credit model, taking data as the root, taking technology as the tool and taking enterprises as the center. A credit assessment system according to the value chain, integrating data from tax authorities, treasury, economic police, etc. will help banks accurately assess the financial health and compliance capacity of each enterprise.
According to experts, the new credit model needs to be more flexible, reduce dependence on tangible assets, and encourage cash flow-based lending and unsecured lending based on credit history, actual revenue, and management capacity.
Transparency is the foundation of trust
Capital can only flow to the right address when there is a relationship of trust between the bank and the enterprise. In which, financial transparency and good risk management from the enterprise side are prerequisites. Enterprises using accounting software, electronic invoices, and declaring correct and complete taxes not only help save costs but also facilitate access to capital.
Resolution 68 has also removed many legal bottlenecks, creating conditions for banks to proactively deploy digital credit products, support online disbursement, help businesses save time and improve business efficiency.
To successfully implement Resolution 68, the banking system not only provides capital, but also needs to become a true "companion" of private enterprises. According to Ms. Nguyen Bao Thanh Van, Deputy General Director of the Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank), this requires the banking industry to: Proactively manage credit in the direction of focusing on the manufacturing, processing, green transformation, and innovation industries; Continue to reform procedures to shorten the time for processing records; Enhance training of RMs (Relationship Management Specialists) to understand the characteristics of each customer group; Integrate technologies such as artificial intelligence (AI), big data, and value chain analysis models; Coordinate interdisciplinary with tax, treasury, and legal agencies to comprehensively exploit customer data.
VietinBank has identified this as a strategic time to join the national startup wave, with the goal of having 200,000 new businesses each year. The bank not only expands its customer portfolio and develops sustainable credit, but also pioneers in digital transformation to improve service quality and customer experience.
The solutions in Resolution 68 have created a solid foundation for businesses to grow healthily, thereby helping banks provide safe and effective capital. At the same time, VietinBank has implemented a specific action plan to build a symbiotic relationship and develop sustainably with businesses.
According to experts at the seminar, private economic development requires close coordination between three pillars: institutions - enterprises - banks.
On the one hand, institutions need to continue to improve the legal framework to protect healthy capital flows, control risks and promote innovation. On the other hand, enterprises also need to improve their internal capacity, financial management and operational transparency.
In their role as financial intermediaries, commercial banks – with their capacity and initiative – are the bridge that turns the Party and State's policies into specific micro-motivations.
Source: https://baodaknong.vn/phat-huy-vai-tro-cua-cac-ngan-hang-thuong-mai-trong-thuc-hien-nghi-quyet-68-257074.html
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