On October 30, representatives of nearly 300 enterprises (DN) and about 17 banks (banks), investment funds attended the seminar “Supporting enterprises to access investment capital sources for production recovery and post-business. Covid-19 “organized by the HCM City Trade and Investment Promotion Center (ITPC) and the US Agency for International Development (USAID) to connect, learn and meet capital needs.
According to ITPC and USAID, there are many opportunities for businesses to expand connections with investment funds, domestic and foreign banks , making access to capital easier. When the problem of capital is removed, enterprises will be more confident to maintain, restore and develop production and business after the Covid-19 epidemic.
Ms. Tina Phan, Regional Director of Indochina – Hong Kong Trade Development Council (China), said there are many channels and ways for businesses to access investment flows both at home and abroad. For example, the Hong Kong Trade Development Council is an investment trade promotion agency ready to connect Vietnamese businesses with foreign investors.
“Hong Kong has a source sourcing program in the fall. Currently, the supply chain and logistics are congested due to epidemics, businesses cannot go abroad to look for sources, so they will organize online conferences and Vietnamese enterprises can participate to promote and introduce products, projects “- suggested by Ms. Tina Phan.
Representatives of businesses and banks exchanged information about loan programs on the sidelines of the seminar
According to Mr. Phan Thanh Loc, Managing Director of Vietnam Investment Group (VIG), although translating Covid-19 causes investment disruption, does not affect the long-term investment strategy in Vietnam. VIG has a fund of about 600 million USD choosing to invest in potential businesses, capable of explosive development. In addition to carrying investment capital flows, the fund is ready to provide strategic support, sending personnel to accompany businesses.
“We focus on businesses that have the ability to develop in the long term, stably, have a methodical strategy, then the fund will support to increase market share and profit. However, most Vietnamese enterprises only care when After being called capital, then pouring money forgetting about previous commitments to investors Investment Fund has accepted the risk of spending money and does not need collateral, so we want to accompany the development with DN “- Mr. Phan Thanh Loc shared.
Alex Downs, an investment officer at the Netherlands Climate and Development Fund (DFCD), said that DFCD has about $ 160 million to invest in businesses. With the Vietnamese market, the fund is interested in businesses with good projects related to resilience and climate change in the Mekong Delta. Enterprises can be supported, consulted to help access capital or DFCD will together with commercial banks, other financial institutions to invest in creating greater value for the business community
“There are many foreign investors interested in Vietnam, but due to the impact of the epidemic, it cannot be over. This trend will continue to be strong in the coming time” – Mr. Jack Nguyen, Deputy General Director of Mazars Vietnam Company, stressed.
However, one of the problems with foreign investors when learning about Vietnamese enterprises is that they see companies that have no international standard books and financial statements or up to 2-3 accounting books. Mazars Vietnam will support enterprises to make standard reports so that foreign investors and investment funds are interested in promoting the next steps in the capital raising process.
“Many Vietnamese enterprises have the mentality of raising capital and then do not focus on development. For foreign investors, when pouring millions of USD, they will come with the conditions to meet the requirements of profit, revenue, open chain. If reaching new pouring more money, there will be no risk of changing the CEO or foreign investors appointing people to join the board of directors of enterprises to intervene “- Mr. Jack Nguyen noted.
Must be transparent about tax and accounting
From the perspective of commercial enterprises, Mr. Tran Hoai Phuong, Director of Corporate Banking Division – Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank), said that to access capital, businesses need to have good business plans and help banks “reduce reputation “is claiming collateral. Effective business plans, transparency of financial information from tax reports, audit reports, quality of business administration, human resources are the factors for banks to consider lending, besides collateral.
In particular, in the trend of integration and enterprises participating in connecting to global value chains, the supply chain for multinational corporations is now also a solution to help businesses get loans easier. If the bank is a supplier to big foreign brands, banks can consider investment contracts, established receivables as an effective business plan and consider lending. “Banks cannot lend to a company that has some tax and audit books or does not understand the financial situation” – Mr. Tran Hoai Phuong explained.
Source: nld.com.vn – Translated by fintel.vn