Financial support still pie in the sky for supporting firms Illustrative3 image Nine years after the issuance of a Government decision that set out preferential credit policies to provide more financial support for Vietnamese firms in the supporting industry, few have been able to make use of said policies, industry insiders have said. Tran Thi Thu Trang, director-general of Hanel PT, an electronics maker in northern province Bac Ninh said her company had given up on seeking access to the preferential credit policies after extensive research. Trang said it was extremely difficult to meet Government criteria for preferential credit, even for HanelPT, a relatively well-known name among Viet Nam’s electronics makers with more than 20 years in the industry, as policies tend to favour newly-established firms over existing ones. “Of course, we can always go to the bank but interest rate hikes in recent years scare us. Without support from the Government, firms will be reluctant to take big leaps in infrastructure investments”, she said. “It has translated to lost opportunities. We have turned away a number of large orders, the kind of orders that could help us break out and transform our firm because we would need to expand… Read full this story
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