Viet Nam News has discussed improved credit access for small to medium enterprises with World Bank's International Finance Corporation vice president Rachel Robbins immediately after IFC and the Justice Ministry, launched an online registration system for secure transactions. What challenges do you think Viet Nam's SMEs face? One of their biggest challenges is gaining access to finance. Lenders need security or collateral to lend to small enterprises. The on-line registration system will make it much easier for medium-sized enterprises to access financing because they can use their assets as collateral to buy equipment as well as run businesses. SMEs also do not have enough capacity or skilled employees. But we focus on the major challenge - to help them access financing. With financing, you can build businesses; plan for the future; deal with problems and save for development. This helps them to grow, employ more people and then can contribute to the overall economy. What does the … [Read more...] about It is not easy for small firms to access credit
How does building credit work
The Viet Nam Farmers' Association and Agribank signed a resolution in 1999 that would provide farmers with access to capital. What have the two sides accomplished since this resolution was passed? The resolution aims to support and create favourable conditions for 100 per cent of the country's farmers so that they may have access to bank loans. The Viet Nam Farmers' Association is responsible for supervising the farmers. The Association must also monitor the farmers' activities in order to assure that they are not misappropriating the funds that they have received. The Farmers' Associations, at a grassroots level, work collaboratively with local governments in cities and provinces in order to establish lending teams that work with farmers. There are currently 228,405 lending teams operating across the country. In total, the teams have an outstanding debt worth VND10.6 trillion (US$588 million). The Viet Nam Farmers' Association also co-ordinated with specialised agencies to organise … [Read more...] about New deal extends credit to farmers without collateral
The government has just approved a USD 1 billion measure to stimulate investment and consumption to cope with the slow growth of the economy, and difficulties of low-income people. How will that huge sum of money be used effectively? The Vietnamese Association of Financial Investors (VAFI) recently proposed several measures how best to use the USD 1 billion package effectively in order to boost the development of the economy. The VAFI says that it should be used to guarantee credit and support interest for transportation, electricity and water, real estate and infrastructure construction projects. Through these projects, enough investment can be attracted in order to help create jobs and a stable income for employees. "Many countries now use two levels to boost investment and consumption in their own struggles against the recessions in their economies. For example, China and the US have increased the level of government spending on infrastructure development, in which the … [Read more...] about How will the USD 1 Billion Stimulus Package Be Used?
Last week, we asked our readers how they viewed plagiarism and how they avoided it in their countries. And what should be done in Viet Nam to protect copyright and stop intellectual robbery. Below are several responses: Jade Claxton, Richard Harris, British, Ha Noi Plagiarism generally is a bad thing because it disrespects the hard work people have done to create articles, write books or make films. In England, we have strict copyright laws. Authors know if their work is their own, but others might not be aware of what plagiarism means, especially students. It has become so easy to copy and paste information from the internet! There is an initiative in British high schools to teach more about plagiarism because it is just too easy to go to Wikipedia and copy your homework from there. This week Thai authorities have rescued 14 Vietnamese women who had been hijacked to Bangkok by a gang running a surrogate-baby racket. The surrogate mothers, aged from 19-26 were all from … [Read more...] about Plagiarism an easy option but does the perpetrator no credit
The problem is no longer credit- Well, it is the question every government is taking when it is clear that it stimulates the economy. You need to increase public expenditures. The question is what you increase. If you give money to the very poor and they spend the money, you will have an immediate effect on the economy. You have to balance that by giving money to people who will create capital and build new factories to create jobs for the poor. We have to balance that off. Building infrastructure, building factories will get products moving. If you go to wealthy people, they will be more likely to save the money you give them. But instead you will balance that by giving money to factories. This is an incentive for them to actually put it back into real production instead of putting it in the bank or the U.S. dollar. That’s the point of the stimulus. So, there will have to be oversight in terms of stimulus packages and close monitoring of expenditures.But some experts have … [Read more...] about The problem is no longer credit