(26 March 2025 – Vietnam) The State Bank of Vietnam (SBV) will proceed with the second phase of its SME Supply Chain Finance Program through 2030 following the success of its first phase.
Phase One of the Supply Chain Financial Program, implemented from 2019 to 2024, successfully improved access to finance and competitiveness of Micro, Small and Medium sized enterprises (MSMEs) within the supply chains.
The Vietnam Supply Chain Finance (SCF) Market is witnessing substantial growth, driven by increasing credit demand from SMEs and the rapid adoption of advanced financial technologies such as blockchain.
The SCF market expansion is largely attributed to the growing necessity for financial assistance among SMEs, the increasing number of industry collaborations, and technological advancements such as blockchain-enabled financial solutions.
“The second phase is expected to focus on assisting the regulatory agencies such as the State Bank of Vietnam (SBV), the Ministry of Justice, the Supreme People’s Court, and other relevant agencies. Additionally, it will strengthen the capacity of SCF for banks, providers of platforms for SCF transactions, businesses, suppliers, and other stakeholders. The program also aims to foster the development of the financing for green supply chains to enhance the competitiveness of the domestic SMEs” the SBV said in a statement
“We will continue to coordinate with the International Finance Corporation (IFC) and the Swiss State Secretariat for Economic Affairs (SECO) to review and amend the regulations to create a more favourable environment for supply chain finance” said SBV Deputy Governor Nguyen Ngoc Canh.
“This includes revising the regulations on lending through the digital financing platforms and encouraging the credit institutions to diversify their financial products to enhance the access to credit of SMEs. Additionally, we hope that the IFC and SECO will continue to work closely with the SBV to mobilise resources and implement practical, feasible initiatives to further develop Vietnam’s supply chain finance market in the coming years.”