The Ho Chi Minh City Business Association has proposed that banks expand their credit space and loosen conditions for businesses to obtain loans, to help them deal with difficulties.

Chairman of the Association Nguyen Ngoc Hoa made the suggestion at a dialogue between city authorities and the business community on February 17.

Many businesses are “thirsty” for capital and do not have enough funds to repay debts or reinvest, he said.

Chairwoman of the Ho Chi Minh City Food and Foodstuff Association Ly Kim Chi said that, in fact, many major businesses in the city want to invest in advanced technology but face financial difficulties. Many foreign investment funds plan to buy these businesses.

She proposed that city authorities simplify administrative procedures to create favorable conditions for businesses.

The government and relevant ministries should take feedback from businesses before issuing decrees or circulars to prevent shortcomings or obstacles hindering businesses’ production activities, she said.

Vice Chairman of the city’s People’s Committee Vo Van Hoan said the city will gradually take measures to help tackle difficulties facing businesses, based on their recommendations.