Lawmakers welcomed provisions to expand access to credit based on business plans, revenue, cash flow, and transaction data; broaden collateral options; and improve credit information systems and lending methods. The measures were described as addressing SMEs’ financing needs.
However, lawmakers called for more detailed rules on implementation, the responsibilities of credit institutions, assessment criteria, and procedures for businesses to access and benefit from the policies.
Nguyen Van Than, a National Assembly deputy from Ho Chi Minh City, said: “The Government should be tasked with providing detailed guidance, with the State Bank of Vietnam taking the lead in advising on and implementing provisions related to credit, credit information and financial models within its jurisdiction. This would turn the policy of expanding credit access into a clear, actionable mechanism with a sound basis for implementation and oversight.”
To help businesses secure loans based on cash-flow data rather than relying primarily on collateral, Le Hoang Anh, a deputy from Gia Lai Province, said: “I propose adding a provision to Article 8 requiring tax authorities, customs agencies and social insurance agencies to connect their databases and provide relevant information to credit institutions through the enterprise information system. In a digital economy, data must become a form of collateral.”
Lawmakers also proposed measures to improve SMEs’ access to capital markets, including restoring the SME Credit Guarantee Fund.
