SME support fund launched
The Ministry of Planning and Investment on April 21 inaugurates a fund intended to support small and medium enterprises (SMEs) as this is the Government’s commitment to back growth of the SME sector and the economy as a whole.
A source told the Daily that with total chartered capital of VND2 trillion (US$89.72 million), the fund will make loans with interest rates of 5-7%, lower than those offered by commercial banks, for SMEs with feasible projects.
The fund will also entrust banks to offer loans with preferential interest to eligible businesses.
It will manage capital allocated to it by the State and other sources to fund programs to help SMEs improve their competitiveness and governance, and upgrade their facilities. It also finances the development of supporting industries.
The fund targets firms meeting requirements specified in the ministry’s Circular 13/2015/TT-BKHDT on businesses in priority areas.
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