Businesses urged to seize upon fresh opportunities from foreign capital
VOV.VN - There are positive signs ahead for Vietnamese small and medium-sized enterprises (SMEs), particularly as several foreign organisations have actively injected their money into local businesses showing a resilient recovery this year.
This comes as, Validus, TTC Group, and Do Ventures established a joint venture in January, aimed at expanding access to credit for local SMEs via a digital marketplace lending platform.
Nikhilesh Goel, co-founder and CEO of Validus, revealed that SMEs are capable of increasing their resilience as they have enough cash flow to support business operations whilst kick-starting new projects moving into the post-pandemic period.
Furthermore, the Asian Development Bank (ADB) signed a US$25 million loan with Tien Phong Commercial Joint Stock Bank (TPB) in January to expand access to finance for women-owned and led small and medium-sized enterprises (WSMEs) based domestically.
Similarly, the US Agency for International Development (USAID) and Vietnam’s Ministry of Planning and Investment (MPI) have recently launched a US$36 million project which primarily focuses on developing the competitiveness of the nation’s small and growing businesses. The five-year project was first unveiled during US Vice President Kamala Harris’ visit to the country in 2021.
Shuyin Tang, co-founder and CEO of Beacon Fund, shared that SMEs represent the key driver for the Vietnamese economy, adding that SMEs must quickly adapt to the digitisation trend by applying digital tools in an effort to increase customer experience, thereby enhancing their financial management.
Nikhilesh Goel, CEO of Validus, emphasised that the capital flow from international organisations will not only help SMEs to build their capacity, but also prepare all resources for them to bounce back moving into the post-pandemic period.
