Workshop "Solutions to remove obstacles in accessing credit capital for the collective economic sector"

On the morning of April 23, 2024, the Vietnam Cooperative Alliance coordinated with the State Bank of Vietnam to organize a workshop "Solutions to remove obstacles in accessing credit capital for the collective economic sector". The conference was held in person in Hanoi and online with 63 provinces and cities nationwide.

At the bridge point of Hai Phong city, Mr. Le Anh Quan - Standing Vice Chairman of the City People's Committee, Head of the Steering Committee for Innovation and Collective Economic Development chaired the Conference, attended by relevant departments, branches and units, representatives of a number of cooperatives, people's credit funds, and commercial banks in the city.

The workshop clearly pointed out the causes and difficulties mainly stemming from the internal conditions of cooperatives that have not met credit conditions, therefore there needs to be many support solutions from many sides for cooperatives, including support mechanisms and policies, guiding regulations to implement the Law on Cooperatives effective from July 1, 2024, support resources from the state such as the Cooperative Development Support Fund, policies on technology, domestic and foreign market development. Besides, the efforts of each cooperative itself and each member to organize activities and manage a suitable, effective and true type of collective economy.

On the banking industry's side, to promote credit growth for the collective and cooperative economic sectors, in the coming time the State Bank will direct credit institutions to grow credit safely and effectively, targeting production sectors and priority sectors according to the Government's policies; create favorable conditions for businesses, cooperatives and people to access bank credit capital; Continue to innovate lending processes and procedures to be simple and suitable for customers who are cooperatives, but still ensure compliance with legal regulations and manage credit quality; Research and deploy credit products suitable to the characteristics of collective and cooperative economies, strengthen connections to remove difficulties in borrowing capital./.