Credit incentives for enterprises

Friday, August 17, 2012

(VOVworld) – Banks’ credit policies are on the right track to help enterprises weather difficulties, increase their production, and thereby boost the national economy, according to a seminar in Hanoi yesterday.

Participants agreed that financial transparency is necessary, as it enables enterprises to tap resources more effectively and reduce costs and risks both for themselves and for the banks. According Nguyễn Văn Hoàn Deputy General Director of Ocean Commercial Joint Stock Bank, enterprises can enjoy an interest rate of 15%-16% per year if they have highly feasible projects and a good business plan. But he said enterprises themselves must find ways to reduce risk.