Vietnam's small and medium-sized enterprises (SMEs) still have difficulty on acquiring bank loans, local newspaper Vietnam News quoted a survey as reporting Friday.
According to the survey conducted by the Enterprises Development Department under the country's Ministry of Planning and Investment, only 32.38 percent of SMEs said that they were able to access to bank loans, another 35.24 percent claimed that they had difficulty accessing credit, while 32.38 percent others said they were not ever able to obtain credit through banks.
SMEs represent up to 90 percent of the country's 250,000 private enterprises, but commercial banks now merely meet 30 percent of capital demands of SMEs, showed the survey.
The banks unwilling to take risks on lending to SMEs due to the unsustainable development of these enterprises was regarded as the reason leading to the situation. It was difficult to evaluate the credit-worthiness of most SMEs as few followed standard accounting procedures in preparing financial statements, said the newspaper.
Source: Xinhua
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