At the Seminar “Lending to Women-Owned Small and Medium Enterprises (WSMEs): International Practices and Policy Framework,” BIDV’s representatives and experts and speakers shared information about policies, regulations and support programs for WSMEs.

The Seminar was organized by the State Bank of Vietnam (SBV) in collaboration with the Asian Development Bank (ADB) in Hanoi on 6 June 2023. The Seminar was attended by representatives of the Vietnam Banks Association, the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) and a number of commercial banks and speakers who are national and international experts.

According to the speakers, women-owned SMEs are still facing many obstacles in business activities such as: small scale, low competitiveness; many banks still have gender stereotypes against women in business; financial difficulties, especially financial access, collateral; many female business owners face pressure in securing a work-life balance, etc. Therefore, banks play a critical role in not only providing funds to WSMEs but also “offering comprehensive solutions” to them.

At the Seminar, Mrs. Nguyen Thi Kim Phuong, Deputy Head of BIDV’s Corporate Banking Department, said: “WSMEs need special attention and resource support. Therefore, BIDV has implemented many practical specialized programs for WSMEs along with non-financial solutions; advising on loan plans, financial management; support to recover debts for customers, etc. In particular, proper program communication is also an important success factor in supporting WSMEs.”

At BIDV, WSMEs are entitled to competitive interest rate credit packages to facilitate their business development. In particular, they are encouraged to participate in the Financial Inclusion Program to reduce the impact of Covid-19 pandemic, combining a USD5 million grant from the Women Entrepreneurs Finance Initiative (We-Fi) and VND3,000 billion package funded by BIDV. Accordingly, customers not only enjoy preferential interest rate policies and drawdown commitment fees, but also participate in free business consulting courses and training on cash flow management, human resource management, new product/business line development, and information technology.

Besides, BIDV’s program named “Digital Transformation with SMEs” also offers free accounting and business management software to customers. This product contributes to promoting digital transformation, transparency, and improving bank loan access.

Recently, BIDV has launched BIDV SME EASY digital platform (https://smeasy.bidv.com.vn), aiming at providing maximum support to customers with financial and non-financial solutions. The platform is designed as a One-Stop Shop, providing consistent financial and non-financial solutions for customers, increasing internal resources, and improving financial health and competitiveness for SMEs. The platform interface is also designed specifically for female entrepreneurs with the message “Shining with Women-Owned SMEs”.

 

Supporting activities for SMEs, especially WSMEs, is a priority of the Government, and requires the cooperation of ministries, departments, organizations and commercial banks. With the motto “pioneering and developing together”, BIDV is always a reliable and sustainable companion of SMEs in general and WSMEs in particular.