Vietnam considers further reducing interest rates for SMEs

Workers at an SME specialising in cashew export in the southern province of Bình Phuoc. — VNA/VNS

HANOI (Xinhua): Vietnam will consider bolstering support for local start-up enterprises to facilitate their integration into local and global value chains, local media reported on Tuesday (Aug 15).

In a recent proposal submitted to the government, the Ministry of Planning and Investment suggested an additional 2 per cent annual reduction in interest rates for eligible businesses borrowing from Vietnam's small and medium-sized enterprise (SME) development fund, local newspaper Vietnam News reported.