National Assembly Chairman calls for priority for micro-enterprises

National Assembly Chairman Tran Thanh Man has called for significant emphasis on micro-enterprises and converted household businesses in the new draft law aimed at developing small and medium enterprises. During group discussions on the draft law, deputies expressed concerns about helping SMEs grow sustainably to contribute to the nation's economic goals.

Tran Thanh Man noted that SMEs make up 98% of active enterprises but represent only about 20% of total outstanding credit. Banks have offered preferential credit packages, but many businesses still struggle to access capital. The National Assembly Chairman pointed out that banks often require substantial collateral assets, which SMEs lack.

Additionally, many businesses have inaccurate financial statements and inadequate cash flow management, making it difficult for banks to assess debt repayment capacity. To address these issues, Tran Thanh Man suggested implementing a pilot data-based sandbox mechanism, reforming SME credit guarantee funds, improving financial transparency, providing accounting and software training, and diversifying capital sources.

Deputy Nguyen Van Than from the Vietnam Association of Small and Medium Enterprises proposed low-interest rates for loans and encouraged non-deposit-taking financial institutions to lend capital, particularly through digital banks. Another deputy highlighted the ongoing challenges in implementing existing policies and proposed clearer, transparent mechanisms and regulations to support SMEs.