Viet Nam in Need of Private Centers for Credit Information

Viet Nam should establish private centers for credit information, according to a petition presented in a conference on the development of the specialized center in January.

The establishment of these centers is aimed at helping banks as well as borrowers to access the necessary information on credit issues.

Recent statistics from the World Bank show that the assistance of private centers can reduce small enterprises’ difficulties from 49% to 27% and increase the small and medium enterprises’ possibility to approach the credit market from 28% to 40%.

The conference was held in the capital city of Hanoi by the State Bank of Viet Nam and the International Finance Corporation (IFC), a member of the World Bank Group.

By H.Y – Translated by: Trong Khuong

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