HÀ NỘI — The Việt Nam Banks Association (VNBA) has suggested the Government submit a request to the National Assembly for a resolution to support firms and people to overcome difficulties and promote business development like they did during the COVID-19 pandemic. Although the Government and the Prime Minister have proposed solutions to remove difficulties for firms and people, the capital absorption capacity of the economy is still low. The Government should also review and evaluate the effectiveness of the Small- and Medium-sized Enterprise Support Fund under the Ministry of Planning and Investment and supplement its capital in order to support firms that have not yet met the conditions for loans at credit institutions. Hùng also suggested that the Government should reduce VAT for commercial banks to ease them in sharply reducing lending interest rates to support firms. The General Department of Civil Judgment Execution should review outstanding judgments related to the handling of collateral for bad debt recovery.

Source: Viet Nam News July 20, 2023 12:01 UTC