The import-export sector is always one of the few priority areas that need to focus capital flow. Photo: ST

Need more incentives and flexibility from credit

According to data from the State Bank (SBV), in the first quarter of 2024, credit growth reached nearly 0.9%, an improvement compared to the decrease of 0.72% as of the end of February 2024. However, credit demand in the economy is still very weak. Therefore, the Government and the Prime Minister have given many instructions to strengthen solutions for credit growth in 2024. In particular, the import-export sector is always one of the few priority areas that need Credit institutions concentrate capital flows.

Talking about the difficulties of businesses in exporting, according to Mr. Trinh Duc Kien, Deputy Director of Ke Go Co., Ltd., some key export markets such as the US and Korea have anti-dumping investigations. For example, in the US, as soon as the investigation begins, anti-dumping tax is immediately imposed, up to 100-300%, which is considered to end the export. Therefore, businesses must change sales policies, trade promotion... but also need support from industries, including credit capital sources to operate more effectively.

Also on this issue, Mr. Nguyen Hoai Nam, Deputy Secretary General of the Vietnam Association of Seafood Exporters and Producers (VASEP), said that in the current period, the high inflation situation causes demand in the market to decrease. The international market is not high, leading to seafood inventory at businesses. Therefore, this person highly appreciated the credit package of VND 15,000 billion and currently expected to increase to VND 30,000 billion of the banking industry to support the forestry and fisheries sector, significantly supporting the recovery of the entire industry.

However, sharing about the difficulties of businesses in accessing capital, Mr. Nguyen Hoai Nam said that through a preliminary survey, many businesses in the seafood sector look forward to accessing loans at low interest rates and more suitable, as well as supported to increase access to preferential credit programs. Mr. Nam explained that businesses still have difficulty with collateral, so banks should consider "simplifying and being more flexible" in terms of procedural requirements and loan documents. In addition, export businesses also expect to increase credit limits to at least 50% of total outstanding debt, instead of about 27-28% as in the VND 15,000 billion credit package.

Thus, for import-export businesses, capital is always an essential need for the recovery process as well as additional investment for production and business. Therefore, businesses believe that credit incentives will bring great efficiency because working capital depends greatly on banks' credit capital.

Facilitate financial transparency

Currently, the import-export sector is still given "favor" by banks when borrowing capital. Accordingly, in addition to capital financing with many incentives, banks also provide guarantee and international payment services with competitive fees for import-export businesses. In particular, banks also prepare a team of consultants to support businesses in transactions with partners in the international market, such as preparing valid documents, negotiating payment terms, etc. , many banks have promoted digitalization, from online lending to providing administration and transaction services... to facilitate businesses and reduce costs.

Mr. Ha Huy Cuong, Deputy General Director of Nam A Commercial Joint Stock Bank, said that the bank is focusing on in-depth research, design and construction of solution packages and financial services for the value chain. To do this, banks must understand the current situation, needs and concerns of businesses to research and build appropriate product and service solution packages...

In addition to support from banks, businesses must also be proactive to meet banks' loan standards. Because according to experts, the banking system is also facing many risks in terms of asset quality, loan quality... so it cannot lower credit standards, cannot release "reckless" capital to businesses due to affecting the financial system in general.

Banks say that many businesses are not financially transparent, buying and selling without invoices and documents, and the chain of links is not tight, leading to difficulties in controlling cash flow...

Therefore, to increase efficiency and facilitate the flow of credit for import and export activities, Ms. Phung Thi Binh, Deputy General Director of the Bank for Agriculture and Rural Development (Agribank) said that businesses should need to proactively develop feasible production and business projects and plans. At the same time, we must strengthen liquidity management, cash flow, and financial situation transparency; proactively approach and propose loan needs so that banks have a basis for appraisal and lending decisions. Businesses need to coordinate closely with lending banks in controlling cash flow from purchasing, processing to export; timely grasp market developments in accordance with the business conditions of the enterprise from raw material areas, processing methods to export markets...