Saturday, March 25, 2017 2:42:50 PM - Markets open
VN-INDEX 722.14 +2.58/+0.36%
HNX-INDEX 91.37 +1.47/+1.64%
UPCOM-INDEX 57.52 -0.14/-0.24%
Development fund offers financial aid to SMEs
Source: VNA - 3/14/2017 4:09:53 PM
 (0 ratings. You must sign in to rate.)
The Small- and Medium-sized Enterprise (SME) Development Fund of the Ministry of Industry and Trade has launched financial aid packages for 2017 to continue assisting the firms which make up 97 percent of Vietnam’s total businesses.

These programmes loan SMEs a maximum of 70 percent of the acceptable investment capital of each project or business plan.

The support programme for SMEs’ innovation has total funding of 100 billion VND (4.38 million USD). It provides a maximum loan of 10 billion VND (438,500 USD) and allows a 24-month grace period for the original loan.

Another programme with the same funding targets companies involved in water supply, waste and wastewater management and treatment activities, with loans worth up to 25 billion VND (1.09 million USD).

Two packages worth 180 billion VND (7.89 million USD) each are designed to assist businesses in agriculture, forestry and fisheries and those in processing and manufacturing industries, respectively. Maximum lending under the scheme for agriculture, forestry and fisheries businesses is 20 billion VND (877,000 USD) and that for processing and manufacturing industries is 25 billion VND (1.09 million USD).

The programmes are carried out through December 31, 2017, or until their funding is  used up or the SME Development Fund issues any other announcements.

The interest rate is kept unchanged during the loan term at under 90 percent of that of commercial loans.

SMEs employ more than 50 percent of the workforce and contribute over 40 percent of the GDP in Vietnam. However, they are facing an array of obstacles in accessing credit, production sites and market.
Newer News
24/03 Local reform must be hastened: businesses
23/03 Việt Nam’s coffee price highest in six years
21/03 Wood glue quality to be more tightly controlled
21/03 Ministry denies rice licence costs $20,000
20/03 Steel prices set for slight rise
20/03 Vietnamese economy on a 'slow slippery slope'
Older News
14/03 Japanese firm wants to join Vietnam’s tea industry
14/03 Bright prospects for steel firms despite challenges
14/03 Industrial growth slow, labour productivity low: Party official
09/03 Production improves, trade unbalanced: MoIT
09/03 Agriculture minister explains new regulations to US firms
09/03 SCG spends $156 million to buy cement company
08/03 MoIT targets bigger GDP role for logistics sector
08/03 Huge trade potential in Australia
07/03 Vietnam pepper faces difficult year
07/03 Over 345 million USD in FDI poured into property sector
Newsletter Signup
Top Stories
Slight rise in February CPI
Draft decree on State monopoly in trade submitted to Government
CPI ups 0.46% in January
CPI below 5% target
At 6.21 per cent, country’s GDP below govt target
Market Update
Last updated at 3:00:00 PM
VN-INDEX 722.14 +2.58/+0.36%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.