Vietnam’s business community has been hit hard by COVID-19. Many businesses, especially small and medium enterprises (SMEs), are suffering from revenue loss, suspension of operations, and staff cutbacks. They are struggling to regain their former momentum and continue their operations. To address this, the USAID Linkages for Small and Medium Enterprises (LinkSME) project is working closely with the Government of Vietnam and business support organizations such as the Ho Chi Minh City Investment and Trade Promotion Center (ITPC) to facilitate Vietnamese SMEs’ access to finance and business recovery post-COVID-19.

On October 30, USAID LinkSME and ITPC held a workshop on “Supporting Enterprises to Gain Access to Finance for Post-COVID-19 Business Recovery.” Almost 300 participants engaged in the workshop, including international financial institutions, commercial banks, business associations, international development organizations, and enterprises from Ho Chi Minh City and nearby provinces. The workshop was followed by a business matching event where over 50 matches were made between SMEs and financial institutions/commercial banks.

So What? The event served as a platform for Vietnamese SMEs to hold discussions with financial institutions and local banks and to better understand their lending criteria and requirements, which will help SMEs gain access to finance - a critical factor for their business recovery post-COVID-19.