GlAl PHAP THAO GO KH6 KHAN V^ V(5N<br />
CHO cAc DOANH NGHIEP NH6 VA VC/A VI£T NAM<br />
T r a n T h i XuAn A n h *<br />
Thid'u vd'n, it ed kha ndng tid'p c^n vd'n<br />
dang Id bdi todn nan giai ddi vdi eac doanh<br />
nghiep nhd vd vfla ( D N N W ) trong giai<br />
doan hi$n nay nhdm phdt t r i l n vd md r^ng<br />
san xud't kinh doanh. Vide hi tfl chd'i cde<br />
khoan vay tin dung ehinh thflc tfl cde ngdn<br />
hdng thfldng mai (NHTM) do ede quy dinh<br />
qua chdt che vd ldi sud't cho vay qua eao dd<br />
bupc nhiiu D N N W phai tim dd'n cac ngudn<br />
tdi chinh phi ngan hdng nhfl tin dung<br />
thfldng mai, cho thud tdi chinh, vd'n tfl cac<br />
quy d i u tfl ... Song, nhflng ddng von ndy<br />
eung khdng de dang gi "chay" vdo doanh<br />
nghiep (DN) do nhflng khd khdn cua nen<br />
kinh td' cung nhfl nhflng ye'u kdm tfl ehinh<br />
ban than cac DN. Vdy glc re cua vd'n de<br />
thid'u vd'n la b ddu? Bdi vidt ndy xin d l edp<br />
dd'n mpt so' khia canh eua vd'n d l .<br />
1. K h o k h a n v l vo'n ciia c d c d o a n h<br />
n g h i e p n h o v a viia V i e t N a m<br />
a. Quy md vdn chu sd hOu thdp<br />
Theo thd'ng kd mdi nhd't, ea nfldc hi^n cd<br />
tren 500.000 DN ddng ky boat ddng, trong<br />
dd sd' Ifldng D N N W ehilm tdi 97%, ddng<br />
gdp 47% GDP vd 40% ngan sdch nhd nfldc,<br />
tao thdm g i n mpt trieu vide ldm mdi ndm.<br />
Tuy nhien, quy md vd'n tfl eo eua khdi ndy<br />
thd'p hdn rd't n h i i u so vdi khoi doanh<br />
nghiep nhd nfldc (DNNN). P h i n Idn vd'n tfl<br />
cd cua eac D N N W dupe tao ra tfl von ridng<br />
cua chii DN, co ddng, vd'n gdp cua ban bd,<br />
<br />
ngfldi thdn, hp hdng. Hidn trdn ca nfldc, s l<br />
D N N W cd vdh tfl ed dfldi 1 ty dong chilm<br />
41,80%, s l DN e6 vdn tfl I d i n 5 ty dong<br />
chilm 37,03%, s ^ DN ed von tfl 5 d i n 10 ty<br />
dong chi chilm 8,15%. Tinh trung binh mdt<br />
D N N W hidn nay cd khoang 3,6 ty ding<br />
v i n chu sd hflu, dap flng khoang 5 - 10%<br />
von luan c h u y i n eiia k h I i ndy. De dfla ra<br />
cde d a n h gid n h a n h v l chdt Ifldng phat<br />
trien cua k h u vflc kinh t l tfl nhdn b Viet<br />
Nam sau 10 ndm thfle thi Ludt Doanh<br />
nghiep (1999) vd Ludt Doanh nghidp<br />
(2005), To' chflc nghien eflu ddc ldp<br />
Economica (UNDP) dd phdn tich tfl nguin<br />
td'ng d i i u t r a DN cae n a m (2001-2009) vd<br />
kd't qua cho thd'y:<br />
Khu vflc doanh nghiep tfl nhdn da<br />
tdng ty Id lpi n h u d n tren von ehu sd hflu tfl<br />
4,4% (ndm 2000) len 7,1% (2008), trong khi<br />
DNNN tdng tfl 7,9% len 12,4% vd doanh<br />
nghiep c6 vd'n d i u tfl nflde ngodi (FDI) tii<br />
19,8% len 23,9% trong eung giai doan.<br />
Mflc eai thien ty Id ldi nhu^n tren<br />
t i n g tdi san c6 ciia khu vflc doanh nghidp<br />
tfl n h d n thd'p hdn hai khu vflc doanh<br />
nghiep cdn lai: Id 1,63% (ndm 2000) Idn<br />
1,76% (ndm 2008), so vdi tfl 2,35% len<br />
3,38% cua DNNN, vd tfl 8,97% Idn 9,55%<br />
cua k h u vflc FDL<br />
Ket qua t r e n cho thd'y quy md von nho,<br />
ndng Iflc kdm cung vdi to'c dp tang trfldi^<br />
<br />
* Tr^ Thi XuSn Anh. Thac si. Hoc viftn Ngfln hing. Hk Npi.<br />
<br />
Q<br />
<br />
QUAN Lt KINH T£<br />
<br />
5646(3+4/2012)<br />
<br />
GlAl PHAP THAO GO KHO KHAN VS V6N„.<br />
<br />
chdm, ldi nhudn de lai cho tdi d i u tfl khdng<br />
nhiiu da ddn den nhflng khd khdn eho cae<br />
DNNW trong vide chuyen sang kinh doanh<br />
quy md Idn. Hdn nfla, day cung dfldc xem Id<br />
mdt trong nhflng nguydn nhan k h i l n cho<br />
cac DN khu vflc tfl nhdn (ngoai trfl mdt so'<br />
it phat tridn vfldt bdc) ngdy edng trd nen<br />
nho be hdn v l quy md vdii khi so sdnh<br />
tfldng ddi vdi eac DNNN vd doanh nghiep<br />
FDI.<br />
6. Khd tii'p can nguon<br />
NHTM<br />
<br />
vd'n vay ta cdc<br />
<br />
Vdi quy md vd'n nhd le ndu tren, d l dap<br />
flng nhu e l u von san xud't kinh doanh, flde<br />
tinh 80% Ifldng vd'n eung flng cho D N N W<br />
dfldc trdng dpi tfl kenh tin dung ngdn hdng.<br />
T h i nhflng, thfle td' nhu c i u ndy dflpc ddp<br />
flng r i t ban ehi. Theo dieu t r a v l thflc<br />
trang D N N W cua Cue P h a t t r i l n Doanh<br />
nghidp thude Bd Kd' hoach va D i u tfl, cd<br />
den 75% D N N W mud'n tim vd'n bdng hinh<br />
thflc vay ngan hdng nhflng ehi cd 32,38%<br />
DN cd kha ndng tid'p cdn n g u i n vd'n ndy,<br />
35,24% gap n h i i u khd k h a n trong vide tid'p<br />
can, vd 32,38% khdng tid'p cdn dflpc. D i i u<br />
<br />
ndy dflpc ly giai m^t p h i n bdi:<br />
Tha nhd't, chinh sdch tin dung cua cac<br />
NHTM Idn chfla thflc sfl hfldng de'n khu vflc<br />
D N N W . Cho dfl, trong thdi gian qua mdt s l<br />
NHTM dd chii ddng ho trd cac D N N W<br />
trong vide l|Lp dfl an san xud't kinh doanh du<br />
tieu c h u i n vay von ngan hdng. Thflc t l cho<br />
thd'y D N N W thfldng dfldc vay von tfl cdc<br />
NHTM eo p h i n nhiiu hdn Id tfl NHTM qud'e<br />
doanh. Nhflng lUpng vd'n cho vay cua cac<br />
NHTM CO p h i n thfldng ban che hdn so vdi<br />
NHTM qudc doanh do quy md von nhd. Hdn<br />
nfla, tudn thu chinh sdch tiln tg thdt chat,<br />
cdc NHTM hien nay bude phai gidi han eho<br />
vay phi san xud't khdng qua 20% tong dfl np<br />
vdo thdi diim 31/12/2011va di kem vdi vide<br />
nang mflc trich ldp dfl phdng rui ro ddi vdi<br />
ba't dpng san vd cho vay t h i chip vdng len<br />
250%, dong thdi chi thfle hidn tai cap vdn<br />
eho cdc nhu eau eu the Id san xud't vdt cha't<br />
(hdng xud't khau, ndng san, ndng nghidp, ...)<br />
theo dinh hfldng flu tidn eua Chinh phu.<br />
Diiu nay ddn dd'n vide tid'p cdn vdn vay<br />
ngan bdng cua cac D N N W da khd lai ngdy<br />
edng khd hdn.<br />
<br />
Bang 1: Ty t r o n g cho vay D N N W cua mot so' ngan h a n g t r o n g nam 2009-2010<br />
Ddn VI: %<br />
<br />
.......<br />
Cho vav c a c t o c h i i c k i n h t e<br />
I D N N N Trunu u o n s<br />
DNNN dia o h u o n s<br />
O S n c t v T N H H n h a nuac<br />
Cong tv T N H H tu n h a n<br />
C6nE tv CO p h a n n h a nu6c<br />
Cong tv CO p h a n Ithac<br />
Cong tv hdp d a n h<br />
Doanh nghiep t u n h a n<br />
Doanh nphigp F D I<br />
ICinh tS' tap the<br />
Cho v a y ca n h a n<br />
Cho v a v k h a c<br />
Tong so<br />
<br />
VietinBank<br />
%tang/<br />
giam<br />
<br />
2010<br />
<br />
Vietcombank<br />
<br />
2009<br />
<br />
.1.26 13,78 15.04<br />
2,52<br />
2,42<br />
•0,1<br />
3,2<br />
7,04<br />
3.84<br />
-0.22 19,14 19,36<br />
2,79 15,46 12,67<br />
•0,68 15,96 16,64<br />
0,02<br />
-0,01<br />
0,01<br />
•1,4<br />
4,58<br />
6,98<br />
1,62<br />
•0,37<br />
1,99<br />
0.49<br />
•0,18<br />
0,67<br />
-1,77 19,37 21,14<br />
.0,64<br />
0,77<br />
0,13<br />
100<br />
0<br />
100<br />
<br />
%tang/<br />
giam<br />
•4,43<br />
0,00<br />
3,06<br />
0,00<br />
0,00<br />
0,00<br />
0,00<br />
-0,69<br />
-2,60<br />
0,00<br />
0,90<br />
4,39<br />
0.00<br />
<br />
2010<br />
<br />
2009<br />
<br />
34,64<br />
39,07<br />
0<br />
0,00<br />
15,52<br />
18,58<br />
0<br />
0,00<br />
0<br />
0,00<br />
0<br />
0,00<br />
0<br />
0,00<br />
4,37<br />
3,68<br />
5,51<br />
8,11<br />
0<br />
0,00<br />
10,58<br />
9,68<br />
27,01<br />
22,62<br />
100 100.00<br />
<br />
NHCP Phuttog<br />
Dong<br />
%tang/<br />
giam<br />
<br />
2010<br />
<br />
2009<br />
<br />
2,15<br />
0<br />
-2,15<br />
1,41<br />
0<br />
1,41<br />
0,521<br />
0,47<br />
-0,05<br />
1,62 17,15 15,53l<br />
0,29<br />
0,29<br />
01<br />
-5,77 17,59 23,36<br />
0<br />
0,00<br />
0<br />
3,34<br />
-0,49<br />
2,85<br />
0,15<br />
0,46<br />
0,31<br />
0,27<br />
0,79<br />
1,06<br />
4,04 58,72 54,68<br />
0.00<br />
0<br />
0,<br />
100]<br />
100<br />
0.00<br />
<br />
Nguon: Tong hdp k^t qua Bao cao thucing nien nam 2009 vk nam 2010 ciia mot so NHTM<br />
SilWI3+V201ZI<br />
<br />
OUAN Lt KINH Ti<br />
<br />
H<br />
<br />
IHi'ilil "^' ™'''""'"""' °°'""'<br />
Mot di^m ttfdng dong d l nhftn tha'y &<br />
ta't ca cac NHTM co phSn t r e n 14 ty 1$ dU<br />
nd cho vay dd'i vdi doi t i l i n g la t h a n h<br />
p h i n kinh ti t a p t h i (cac hcjp tac xa) ra't<br />
tha'p. Vietinbank ch! d i n h cho dSi tucjng<br />
nay 0,67% von tin d u n g trong nfim 2009<br />
va da giam xuong c6n 0.49% trong nfim<br />
2010. Ty 1$ nfiy t^ii Ngfin hfing PhUdng<br />
Dong ciing ra't tha'p, 0.27% trong nfim<br />
2009, chi tfing 16n k h o a n g 1.06% trong<br />
nfim 2010. Vietcombank thfim chf khflng<br />
c6 so U$u thdng ke ve doi tU(?ng nfiy. Cac<br />
DN t u nhfin chiem mot p h i n khong nho<br />
trong tong so cac D N N W thi ty 1$ dU ntf<br />
theo thong ke tai Bang 1 ciing khong vU(?t<br />
qua hai con so va chifi'm k h o a n g khoang<br />
3-5% tong von tin diing cua ca ba n g a n<br />
h a n g tren.<br />
Theo thong ke cua Bo Ke hoach vfi D i u<br />
tu, den cuoi quy III/2011 tin diing doi vdi<br />
linh vtlc san xua't t a n g k h o a n g 13,52%,<br />
trong do tin diang nong nghidp, nong thdn<br />
t a n g 30,5%; tin dijng xufi't k h i u t a n g<br />
31,77%; tin diang p h i s a n x u l t giam<br />
16,95%, trong do dU nd cho vay di d i u til,<br />
kinh doanh chiing k h o a n giam 43,3%, dil<br />
nd cho vay de d i u t u kinh doanh b i t dong<br />
san giam 10,1%, dU nd cho vay tieu diing<br />
giam 23,12%, dU nd cho vay dd'i vdi cfic<br />
D N N W giam 16%. Cac NHTM tuy da ndi<br />
rdng canh ciia cho c i c D N N W qua h i n h<br />
thCtc cho vay theo dii an kinh doanh<br />
nhiing vay tin c h i p v i n con h a n che. Do'i<br />
vdi cac khoan vay t r u n g vfi dfii h a n cua<br />
cac n g a n hang, quy dinh miic vo'n cho DN<br />
vay can cii t r e n cd sd chenh lech giiia<br />
tdng n h u c i u von c i n thie't, hdp ly cua dii<br />
an vdi vd'n huy dong k h a c , vd'n tii c6 t h a m<br />
gia dil a n d i u t u cua DN tSi thieu ii mlJc<br />
30%. Song ngay ca k h i dap iing diiijc d i i u<br />
I S OUAN Lt KINH Tl<br />
<br />
TAI CAU TROC NSN KINH Tg SAU KHONG HOANG...<br />
<br />
ki$n d i u tign nay, k h d n g p h a i dii an nio<br />
ciing dtU/c vay von vi theo QuyS't dinh eS<br />
03/2011/QD-TTg cua T h u tudng Chinh<br />
p h u b a n h i n h Quy che bao lanh cho<br />
D N N W vay von t^i N H T M thi cac DN<br />
thu^c lo^ii "sieu n h o " k h d n g thu^c diSn<br />
diiijc bao l a n h , t r o n g khi r i t nhiiu<br />
D N N W hi$n t^i lai thudc di^n aky.<br />
Thii hai, ckc D N ndi chung vfi D N N W<br />
ndi ridng hi$n d a n g p h a i di vay vdi lai<br />
s u i t qua cao. Thdi gian qua, NgSn hfing<br />
N h a niidc (NHNN) da c6 khong che miic<br />
lai s u i t h u y ddng k h d n g vUdt qua 1494<br />
nhiing lai k h d n g k h o n g c h ^ lai s u i t cho<br />
vay l a m cho lai s u i t t i l n vay qua cao, phd<br />
b i f e til 22 den 24%, ca bidt len dgh<br />
28%/nfim. Vdi miJc lai s u i t vay nay vk<br />
lam p h a t h d n 18% nhii t r o n g nam 2011,<br />
DN phai d a t ty Id sinh ldi t r e n 33% mdi<br />
du k h a nfing bao tofin vo'n. Tuy nhidn,<br />
dieu nfiy nfim ngofii k h a nfing cua r i t<br />
nhieu DN d^c bidt 14 D N N W . Thcfng ke 6<br />
t h a n g d i u nfim 2011 cho t h i y tren 50%<br />
DN d a n g chiu lai s u i t cho vay tren<br />
18%/nfim, t r o n g k h i chi khoang 20% cd<br />
the chiu diing dii0c miic lai s u i t nfiy. C6<br />
k h o a n g 5% so d o a n h nghiep dang di vay<br />
vdi lai s u i t t r e n 2 1 % t r o n g khi dd 100%<br />
sd' DN k h i n g d i n h lai s u i t hdp ly-^ thdi<br />
did'm hidn t?[i 14 diidi 17-18% (Bieu do 2).<br />
0 6 tdi 17% sd' DN k h i vay vSh v&n phai<br />
vay t i l n cua ngfin hfing vdi miic lai suit<br />
cao h d n miic nidm yd't. Nhiing doanh<br />
nghi$p n4y p h a i t r a t h e m mtic 'Id phi"<br />
t r u n g b i n h 14 5,44%. Day 14 h e lijy ttt vide<br />
mdt sd' N H T M d a lach lufit h u y ddng vin<br />
vdi miic 17,5- 18%/nSm, d l r6i ho cho vay<br />
vdi miic lai s u i t cao h d n v4 khoan lai<br />
s u i t cao h d n n a y diidc ngijy t r a n g dt(di<br />
h i n h thiic "1$ phi".<br />
S f W 13+4/20121<br />
<br />
GIAI PHAP THAO G Q K H 6 KHAN Vg V 6 N .<br />
<br />
^MUSffllBfflHJSSBH^^<br />
<br />
Bieu dd 1: Thiic te va y kien cua doanh nghiep ve miic lai suat<br />
cho vay ngan han (VNDVnam (DOn vi: %)<br />
Q1 s<br />
<br />
3<br />
<br />
^<br />
71.0<br />
<br />
613<br />
<br />
-m<br />
^0 1<br />
40.0 —<br />
<br />
• —Mm: lai suat hiMi dang thirc hien la<br />
~ * ~ MirclSi suit hop ly nen la<br />
-"s^ 65 0~^ M'Klai caonhatco thechnidungla<br />
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_ ^<br />
<br />
—<br />
<br />
1<br />
<br />
jsa<br />
<br />
v253<br />
X,^20.0<br />
<br />
"^<br />
<br />
54<br />
<br />
11-12% 12-13% 13-14% I4il5% 15-16% 16-17% 17-18' 18-19% 19-20% 20-21% 21-22%<br />
Ngudn-VCCI<br />
c Vd'n vay tU cho thui tdi chinh<br />
<br />
thdp<br />
<br />
Cho thue tai chinh (CTTC) chinh thiic<br />
xu&'t hien tai Viet Nam tii cuoi nam 1997.<br />
Cho den nay da co 13 cong ty CTTC, trong<br />
do CO 8 cong ty triic thuoc ngan hang, 1<br />
cong ty Hen doanh va 4 cong ty co vo'n dau<br />
tif nif6c ngoai. CTTC diidc xem la mot<br />
phUdng thiic tin dung trung va iai h a n rS't<br />
quan crong cho cac D N N W . Tuy nhien,<br />
theo mot cuoc khao sat n g i u nhien mdi day<br />
do'i vdi 1.000 DNp thuoc cac thanh ph^n<br />
khac nhau thi hdn 70% so DN diidc hoi tra<br />
ldi rang ho biet rat it va chUa bao gid tim<br />
hieu, sii dung dich vu CTTC; g i n 20% hoan<br />
toan khong biet vi dich vu nay, thSm chi co<br />
DN hieu CTTC nhii hoat dong mua tra gop,<br />
nhieu DN chUa hieu ro ban chat ci'p tin<br />
dung cua dich vu CTTC, chiia tha'y ro diidc<br />
hieu qua, ldi ich tii dich vu CTTC mang lai;<br />
hlu het cac D N N W deu chiia sii dung<br />
ngu6n von nay. Khi co nhu c i u ve von de<br />
doi mdi cong nghe, m u a sSm may moc thie't<br />
bi, cac D N N W van tim dgh cac NHTM<br />
mac du b day t h u tuc ra't chat che va dieu<br />
kign de vay kho k h a n hdn nhieu.<br />
<br />
So 46 (3+4/2012)<br />
<br />
d. Tin dung thUdng mgi chiia phdt trien<br />
Tin dung thiidng mai (TDTM) la loai tin<br />
dung giiia cac DN cho nhau vay, khong co sU<br />
tham gia cua ngan hang, diidc bieu hien qua<br />
cac hoat dong nhU ky giii dai ly hoac giao<br />
hang ky s6'. TDTM cung thiidng difdc sii<br />
dung trong thanh toan quo'c te thong qua<br />
boat Jong m j L/C. Tuy nhien, boat dong<br />
TDTM hien chiia diidc sii dung pho bid'n cJ<br />
niidc ta. Dac biet, ty 1§ cac D N N W sii dung<br />
dich vu nay con kha tha'p, chi khoang 18,5%<br />
DN sii dung trong thanh toan xua't nhSp<br />
khau. Nguyen nhan la do phan Idn cac DN<br />
nay chifa tao diidc uy tin trong thanh toan,<br />
khong tin tiiSng l i n nhau. Trong quan he<br />
giiia DN trong niidc va cac doi tac niidc ngoai<br />
thieu cac thong tin c i n thiet, do do thieu do<br />
tin cay... Cd scf phap ly thiia nhan va bao ve<br />
quyen ldi cho cac ben tham gia boat dong<br />
TDTM da CO nhimg khi co tranh cha'p xay ra<br />
viec theo kien thu tuc ra't phiic tap va ton<br />
nhi§'u chi phi.<br />
t- Hgn chi' trong viec cd dUdc tdi trd tie<br />
cde quy ddu tU mao hiem<br />
Cac quy dau tii mao hiem (DTMH) b^t<br />
OUAN LY KINH TE E I<br />
<br />
GlAl PHAPTHAO GO KH6KHANVgv6N...<br />
<br />
• i ^ i i l J Mfll TRUiPfNG KIHH DOAHH<br />
<br />
d^u vko Viet Nam v^o nfim 1995, nhifng<br />
DTMH chi thi^c sii phat tri^n sau nSm<br />
2003. Ban chS't ciia cac quy nky \k tim<br />
kig'm va d i u tit v&o to^n b§ ho^t d^ng kinh<br />
tg' mang tinh phat t n e n , sang tgo, c6 dp<br />
mao hi^m cao nhitng ti^m nfing hi0u qua<br />
cung cao. C6 thi ki d§'n nhiing cdi t6n nhU:<br />
Mekong Capital d i u tit chii yfi'u v^o cac<br />
cong ty tlt nhdn vfi cong ty cl giai dogn d i u<br />
qua trinh c6' p h i n h6a, trong hogt dpng<br />
xu&'t kh^u; IDG Venture d i u tii trong Hnh<br />
viic xufi't ban fi'n ph^m chuydn ngfinh, to<br />
chiic cac trien lam hpi nghi trong linh viic<br />
c6ng nghg th6ng tin (CNTT); Vina Capital<br />
chd y§'u d i u tlt vfio cac doanh nghidp... M^c<br />
dii hi$n nay n h i i u quy DTMH coi thi<br />
tritcfng vo'n niidc ta \k thi trit6ng ifu tien so'<br />
mpt de d i u tit trong thdi gian tdi, nhitng<br />
hoat dong cua cac quy ciing nhii loai hinh<br />
d i u tlt mdi nay hien v i n con nhieu gidi b a n<br />
doi vdi cac D N N W xufi't phat tCf nhiing<br />
nguyen n h a n nhit:<br />
Cdc doanh nghiep chUa cd sU chudn<br />
bi tdt trong viec tiep can dong vd'n mao<br />
hiim do chita co nhfin thiic diing dfin vfi<br />
tha'u dao ve vo'n mao hiem ciing nhit each<br />
thiic tiep cfin c6 hieu qua dong vo'n nfiy.<br />
Mdi trUctng kinh doanh cbn ton tgi<br />
mgt sdyeu tdbdt ldi nhU: con p h a n biet doi<br />
xii vdi khu viic doanh nghidp tii nhSn; cd sci<br />
phap ly cho quy DTMH chifa hofin thi$n;<br />
chiia CO mot thi tritdng khoa hpc cong nghe<br />
phat trien dung t i m ; vfi'n de bao hp tki san<br />
sci hQu tri tu§ chiia du manh, thi tritdng<br />
chiing khoan chUa p h a t trien d i y du vfi<br />
khong dong bo, quy mo thi tritdng con k h a<br />
nho, tinh t h a n h khoan chita cao.<br />
Hdu het cdc nhd qudn ly cao<br />
deu la ngUbi nUdc ngodi. Kha nfing<br />
dung cd hpi bi h a n che bcli khong co cac<br />
chuyen m6n Viet Nam trong dpi ngu<br />
chuyen gia quan ly cao cefp. Ngoki ra,<br />
G ] QUAN LY KINH IE<br />
<br />
cap<br />
tfin<br />
nhfi<br />
cac<br />
cac<br />
<br />
chuydn gia d i i u hfinh cac quy Vi$t Nam c6<br />
kinh nghidm rfi't it v§' von mgo h i i m .<br />
Tii nhiing p h a n tich t r e n c6 t h i thSy<br />
vi6c tim nguon vo'n cho hogt dpng san xult<br />
kinh doanh cua D N N W dang g^p v&t<br />
n h i i u kh6 khfin. N i u vfi^n d l nky kh6ng<br />
dit^c giai quy^t kip thdi trong thcfi gian<br />
n g i n , thi tinh trgng san xufi't, kinh doanh<br />
hi dinh tr^ se tfing l§n vfi k6o dfii; nd qua<br />
hgn vfi t h i l u k h a nflng t h a n h toan tfing len<br />
d i n d^n nguy cd n h i i u D N N W bi pha san.<br />
Theo bao cao cua H6i Doanh nghidp Hai<br />
Phong, thfinh pho Hai Phong hi$n c6 tdi<br />
g i n 30% 86" doanh nghigp dinh tr$ san<br />
xufi't, c6 nguy cd pha san. Con tinh Ninh<br />
Binh c6 tdi 90% DN san xufi't e l m chiing,<br />
ch6 thcfi. Tinh Dfik L i k c6 tren 30% so<br />
doanh nghi&p ben hb viic pha san, so' dong<br />
con lgi dang khfic khoai.<br />
2. Mot so' giai p h a p t h a o g d<br />
Mdt Id, c i n d^i mdi t h i che ve von. Tai<br />
cd cfi'u lai cac NHTM nhk nitdc de cung d p<br />
von vk cac dich vu ngfin h a n g hifiu qua hdn<br />
cho cac DN ndi chung vfi D N N W n6i<br />
rieng. Theo d6, thiic d i y n h a n h viec thfinh<br />
Ifip Quy bao lanh tin dung, siia doi quy ch€^<br />
thfinh Ifip vfi hogt dpng theo hitdng c6 chon<br />
loc vfi k h a thi hdn n h ^ m tgo sU ket nSi<br />
trung gian giQa ngan hfing va doanh<br />
nghiep.<br />
Hai Id, dfi'i mdi v l t h i c h i cho vay cua<br />
cac NHTM. Nh& nitdc nen cho ph6p cac<br />
ngSn hkng ditdc chu dong vfi linh boat hdn<br />
trong vigc cung xing v6n. Tuf d6 tuj' theo<br />
tiing khach hfing, tCfng trif6ng hdp ml<br />
ngan hfing c6 the tfing hay giam cac diSu<br />
kign cho vay nhit tai san t h i chfi'p, lai sufit<br />
itu dai, ty 1$ vo'n tii c6 ciia doanh nghidp<br />
t h a m gia dSi iing trong phitdng an vay.<br />
Nhtt vfiy, DN se co n h i i u kha nang huy<br />
dpng dii^c nguon vo'n vay theo nhu ciu san<br />
xufi't kinh doanh cua minh.<br />
<br />
SA'46 (3+4/20U)<br />
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