Vietnam's credit-starved businesses struggle for survival amid global slowdown

Thousands of businesses were closed down during the first quarter of 2023. - VNA/VNS

HANOI (Xinhua): Vietnamese businesses have taken a hit to their revenue on a global economic slowdown with the vast majority struggling to access bank credit, Vietnam News reported on Wednesday (April 19).

A survey recently released by the Vietnam Chamber of Commerce and Industry (VCCI) showed 65 per cent of 12,000 businesses said they would not bet on post-pandemic expansion, and 10.7 per cent said they would be scaling back their operation or face business closure.