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VCCI lists ten problems for PM to consider

Released at: 16:34, 29/04/2016

VCCI lists ten problems for PM to consider

List submitted to Prime Ministry during meeting with enterprises on April 29.

by Thien Huong

The Vietnam Chamber of Commerce and Industry (VCCI) collated ten groups of problems, most of which are longstanding, and submitted them to the Prime Minister during his meeting with enterprises in Ho Chi Minh City on April 29.

Among the problems, the business association in Hai Phong city’s Hai An district complained that 76 per cent of large enterprises can access bank loans while only 60 per cent and 38 per cent of small and micro enterprises are able to do so. Borrowers must have collateral and procedures are troublesome.

As a result, many enterprises are forced to borrow from friends or even loan sharks. Some 6 per cent of the total investment capital at small enterprises, it said, is sourced from the “black market”.

Small and medium-sized enterprises are in dire need of capital, while the deployment of a credit guarantee fund has been slow and not widespread, the association added.

The Nam Dinh Small and Medium-Sized Enterprise Association, meanwhile, proposed that import and export enterprises be permitted to borrow foreign currencies. If this is not possible then enterprises cannot hope to compete with their counterparts in other countries.

In the opinion of the Thai Binh Business Association, the Ministry of Natural Resources and Environment has implemented too many inspections over recent years, putting pressure on many enterprises in the province.

Business inspections are not conducted alternatively and only focus on large enterprises. Certain members of inspection teams have a disrespectful towards enterprises.

It added that enterprises that have been inspected should have their solutions tracked by the local Department of Natural Resources and Environment and not be inspected again.

The Vinh Phuc Business Association said that many businesses are inspected four or five times a month. Although inspections are necessary to check that production activities are in accordance with the law, too many inspections with the same content make it difficult for enterprises.

It suggested the government and the Prime Minister direct inspection departments to prepare specific inspection plans to assist enterprises.

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