Removing hurdles to boost private economy

Minister - Chairman of the Government Office Mai Tien Dung, after revealing to reporters the major outcomes of the second dialogue between the Prime Minister and businesses held on Wednesday, reiterated the government's determination to support the business community and create more favorable conditions for the private economic sector to become a momentum of the national economy.

At a press conference on Wednesday, Dung said the dialogue illustrated the government's commitment to supporting business development.

Dao Minh Tu, Deputy Governor of the State Bank of Vietnam , answered a question about charging small and medium-sized enterprises a fee for capital access.

Cost reduction for small and medium-sized enterprises is an urgent task. The reduction can be done in various ways, but the most essential way is to reduce lending rates. Reduction by commercial banks, part of a larger national program, has proven effective over the years. The more the interest rate is cut, the better it is for SMEs, Tu said.

Tu said using a credit package worth 4.3 billion USD to invest in high-tech is a key to improving the competitiveness of domestic farm produce in the global market.

Source: VOV5