Firms seek unsecured bank loans   A Vietcombank staff counts money. Businesses want better access to unsecured loans to develop production and weather the economic downturn. - VNA/VNS Photo Tran Viet HA NOI (VNS) - Businesses have asked banks to give more unsecured loans based on business credit rating in a move to unclog the credit sources. At a forum held in Ha Noi late last week, Vice Chairman of the Viet Nam Youth Entrepreneurs Association Le Vinh Son said that it was difficult for businesses to access unsecured loans in Viet Nam, even though it was popular elsewhere in the world. Vietnamese banks still gave loans based on mortgaged assets, Son said, adding that it made access to credit difficult for businesses, especially small and medium-sized ones. State Bank of Viet Nam Governor Nguyen Thi Hong said that to increase unsecured lending, the central bank had so far instructed commercial banks to collect business information from the National Credit Information Centre and business credit rating organisations so that they could give loans without the customer mortgaging his assets. The central bank had also implemented programmes to connect commercial banks and businesses so that banks could boost unsecured lending. Hong said that the central bank would take more measures to unclog the credit sources, directing them to production and prioritised sectors. The central bank considered the credit policy a key task this year. However, the credit boosting process must proceed with effectiveness and safety, she said. The central bank would try to boost unsecured loans, while ensuring that the loans are repaid and bad debts limited, Hong noted. Hong also urged businesses to improve their management capacity and have a transparent financial status to be able to access unsecured loans. She said that banks were ready to provide enough capital to businesses that were solvent with feasible and effective business and production projects. At the forum, bank representatives said that they had so far implemented several preferential credit programmes for businesses. Vietinbank, for example, introduced 12 soft loan packages this year, with the lowest interest rate being five per cent for business, said the bank's Deputy General Director Tran Binh Minh. At the forum, businesses also recommended that the relevant agencies should further minimise administrative procedures to streamline the lending process. - VNS