ASIA INTERVIEW
How are the challenges in obtaining trade finance different for SME’s versus large corporations? For commercial banks in general and PVcomBank in particular, trade finance for SMEs is more challenging than that of large enterprises. The biggest difficulty may be the search for reputable partners for funding. SMEs generally are lack of professionalism in trade finance, international trading, insufficient experienced in controlling international trading risks. As a result, commercial banks often give out more challenging conditions and more stringent control measures to SMEs.
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What are the opportunities for available for domestic producers when it comes to export financing and how does the bank support them? The integration process will bring advantages for commercial export enterprises. They will benefit from the integration process, a low tax rate (possibly 0%), for example, which will also pave the entry into foreign markets. This is a great opportunity for businesses to expand their markets, boost sales, and increase profitability‌
Acting the guideline "Complying with business sustainable development", PVcomBank specializes products for SME customers such as Car Loan, PV Ready for long/medium termed loan package for the need of working capital/ fixed asset investment, PV Support for Lack/ none of collaterals with many special incentives.
In addition, the attracting foreign investments through joint ventures, links, accessing to modern technology learning management experience from partners will help businesses improve management capacity, competitiveness, and product capacity of enterprises.
With these incentives, PVcomBank hopes to be able to closely co-operate with the SME business to leverage the breakthrough that help businesses grasp opportunities, increase efficiency and operation scale, hence, sustainable growth at each milestone.
Commercial banks are introducing preferential policies in order to promote domestic producers’ potential to become an important driving force for the development of the economy, specifically: