Firms to receive IT, financing assistance

The HCM City Business Association would assist businesses with finance and technology this year, chairman Huynh Van Minh told a meeting held in HCM City yesterday.

Since banks had hiked interest rates to 18-20 per cent and businesses found it difficult to get loans, the association would guarantee loans obtained by small-and medium-sized enterprises from the SME Support Fund.

Interest rates should be adjusted to enable businesses to expand production and exports.

Support policies for SMEs needed to be updated if they were to develop, especially after the success of the 11th National Party Congress.

Technology and technical skills were key factors for domestic businesses to improve their competitiveness, and they needed to upgrade technologies.

The association would undertake practical technology-renovation programmes to help businesses improve product designs and quality to increase consumers’ trust.

It would also expand trade promotions at home and abroad and organise more business trips to help businesses understand about potential markets.

Last year the association had organised business trips to the US, Canada, South Korea, China, and Singapore.

It would disseminate market information as well as support policies to enable businesses to take full advantage.

It planned to establish an Export Goods Introduction Centre to popularise Vietnamese export products. — VNS