More advantages for small and medium enterprises in 2009

In spite of the gloomy global economic outlook, small and medium enterprises in Vietnam have something to look forward to in 2009, Truong Dinh Tuyen, former Minister of Trade and member of the National Monetary Policy Consulting Council, told a seminar last week.

Former Minister of Trade Truong Dinh Tuyen

The December 20 seminar, organized by Ton Duc Thang University, discussed how to enhance the capacity of small and medium enterprises in Vietnam’s post-WTO environment.

Mr. Tuyen said small and medium enterprises would next year enjoy lower loan interest rates, as well as some of the benefits of the government’s recently-announced VND100 trillion (nearly US$6 billion) economic stimulus package.

The stimulus package is designed to help local enterprises deal with problems caused by inflation and the global financial crisis, Tuyen said.

The government will also adopt new policies to help domestic companies, especially small and medium enterprises, in the social security, finance, agriculture and infrastructure sectors.

The State Bank of Vietnam will encourage financial institutions to provide more credit, re-schedule loans and simplify lending procedures to assist small and medium enterprises, Tuyen said.

To try to avoid recessions, governments around the world announced stimulus packages totaling US$3 trillion, equivalent 7 percent of global GDP. The funding is supposed to increase the circulation of capital around the globe, he said.

By Th.Hai – Translated by Thanh Huong

Other news

Most view


VNPT & SeABank cooperate to enhance connections

The Vietnam Posts and Telecommunications Group (VNPT) and SeABank just co-signed cooperation agreement, aiming to develop the two sides’ economic, business and investment potential.


Vocarimex plans to expand export markets

The Vietnam Vegetable Oil Industry Corporation -Vocarimex (code: VOC) has set its target the 2018 revenue will reach VND 4,8trillion, an increasing of 9 percent compared to 2017 and pre-tax profit target will be VND 300 billlion ($ 13 million), dividend payment ratio at 12 percent.


Self - introduction

VNPT targets to be leading digital service provider in Vietnam

The grand opening ceremony of the VNPT-Information Technology Company (VNPT-IT), a new member of the Vietnam Posts and Telecommunications Group (VNPT), was held yesterday in Hanoi. With thousands of IT engineers and the focus on developing state-of-the-art technological products related to Artificial Intelligence (AI), Bigdata, and Blockchain, the new company is considered the main force to help VNPT fulfill the goal of becoming a leading digital service provider in Vietnam and an important Digital Hub of the neighborhood as well as the world.

Stock market

BLF & LUT fined VND 145mln

The State Securities Commission of Vietnam (SSC) has just issued administrative fines worth VND 145 million to Bac Lieu Seafood Corp (BLF) and Luong Tai Investment & Construction Corp (LUT).