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Vietnam\u2019s Ministry of Finance has proposed letting SMEs use digital assets, virtual assets and intellectual property as loan collateral.<\/p>\n
Vietnam\u2019s Ministry of Finance has proposed letting small and medium-sized enterprises use digital assets, virtual assets and intellectual property as collateral for bank loans.<\/p>\n
The proposal is part of a draft revised Law on Support for SMEs, which is open for public consultation, according<\/a> to a Friday report by Vietnam News<\/a>. Under the framework, businesses could secure loans using future-formed assets, property rights, intangible assets and digital or virtual assets.<\/p>\n SMEs and household businesses account for more than 98% of all enterprises in Vietnam, yet outstanding loans to the segment represent only around 20% of total bank credit in the economy, per the report. The Ministry attributed the imbalance to a lack of eligible collateral, limited financial transparency and the small capital base of most SMEs.<\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n