In the face of mounting difficulties, import-export enterprises urgently need to solve the problem of capital and balance financial costs.
1. Need to optimize financial solutions
According to the General Statistics Office, the export turnover of goods was estimated at 26 billion USD in May, down 2.1% from the previous month, but still up 35.6% over the same period last year. Generally, in the first 5 months of 2021, export turnover of goods was estimated at 130.94 billion USD, up 30.7% over the same period last year.
The above figures show that import and export activities of enterprises have prospered, but there are still many difficulties in raw material costs, logistics charges, direct trade is difficult to implement, even remaining taking care of the costs of testing and vaccinating workers… This makes it difficult for import-export businesses because there is no revolving cash flow in production, and business costs are high.
According to Circular 39/2016/TT-NHNN stipulating lending activities of credit institutions and foreign bank branches to customers, the export sector is one of the five priority areas for loans. The State Bank of Vietnam (SBV) said that by the end of April 2021, credit for the export sector (excluding investment in corporate bonds) reached more than 281,000 billion VND, an increase of about 3.5% compared to the previous year. by the end of 2020, accounting for nearly 3% of the total outstanding loans of the whole economy.
2. Unleash the cash flow
Understanding the above problems of import-export businesses, banks have many preferential programs and credit programs that are “tailored” specifically for these businesses.
Many banks said that businesses have export contracts, banks are completely ready to advance money for enterprises to have capital for production. Banks also invest in a team of consultants in the field of import and export, helping to connect international partners to support businesses to expand markets, help guarantee businesses …
On the management side, the Government issued Decree No. 75/2011/ND-CP dated August 30, 2011 on investment credit and export credit of the State, the Ministry of Finance also issued Circular guidance on this Decree. Accordingly, businesses that meet the requirements under the Decree will be able to borrow a maximum loan amount equal to 85% of the value of the signed export or import contract or the L/C value for loans before delivery or The value of the valid draft for lending after delivery, and at the same time, must ensure that the maximum loan amount for each foreign exporter or importer does not exceed 15% of the actual charter capital of the Bank. Vietnam Development Products. The loan term does not exceed 12 months.
t can be seen that the capital problem of import-export enterprises always needs the support of the authorities in the same banking industry. However, to meet the requirements of banks, many businesses are still struggling, even unable to meet. Therefore, businesses want support policies to be more appropriate and practical.
Source: Online Customs