21 banks have registered to participate in the 500,000 billion VND credit package.

At the regular Government press conference in April 2025 held on the afternoon of May 6, answering questions from the press about the construction of a credit package of about VND 500,000 billion with preferential interest rates to support businesses investing in infrastructure and digital technology, Deputy Governor of the State Bank of Vietnam Dao Minh Tu said that this is a very specific and drastic message and direction of the Government, demonstrating the right direction in focusing resources on two areas considered key, which are important conditions for sustainable development of the economy in the next period. To achieve the target of double-digit growth, these two areas need to be prioritized for early and adequate investment, creating a foundation for the development of other industries.

Permanent Deputy Governor of the State Bank of Vietnam Dao Minh Tu answers the press

“Aware of this and following the Prime Minister ’s instructions, we immediately implemented it in April and worked with banks. Currently, 21 commercial banks have registered to participate, with a total registration of VND500,000 billion, with different commitment scales,” the Deputy Governor informed.

Specifically, 4 state-owned commercial banks are key banks, each registering 60,000 billion VND; 12 large-scale private joint-stock commercial banks registered 20,000 billion VND/bank; 5 smaller-scale private joint-stock commercial banks registered 4,000 billion VND/bank.

The content of this credit package focuses on businesses investing in infrastructure and developing digital technology . The minimum incentive is 1% interest rate compared to the current average interest rate of commercial banks lending. The minimum incentive period is 2 years.

This credit package is entirely funded by commercial banks, not by the State budget or foreign sources. Banks will strive to reduce costs to reduce interest rates, extend lending terms, and especially restructure short-term mobilized capital to lend medium and long-term.

In addition, because infrastructure projects are large-scale and require large capital, commercial banks will have to co-finance, because a single bank cannot handle it alone. Currently, there are many large-scale national infrastructure projects and many other projects that also need investment resources.

Regular Government press conference in April 2025 - Photo: VGP/Nhat Bac

However, compared to other credit packages, this package has two problems. First, as a preferential loan, it is necessary to clearly identify the beneficiaries. In the infrastructure sector, there are hundreds, thousands of projects, so it is necessary to clearly indicate which sectors and projects need priority in order to have effective coordination and concentration of resources. In the technology sector, it is also necessary to more clearly identify the components and beneficiaries of incentives.

Second, infrastructure investment loans usually have very long terms, at least 5-10 years, while commercial banks currently mainly mobilize short-term capital. Therefore, it is necessary to structure and calculate to ensure a plan for capital supply and reasonable use of capital, ensuring the safety of the credit institution system.

Therefore, these two issues require the coordination of relevant ministries and branches, including the Ministry of Industry and Trade, the Ministry of Construction, and the Ministry of Science and Technology, to clearly identify the fields, subjects, projects, and enterprises that need support from this package. The State Bank of Vietnam has worked directly with relevant ministries and sent documents to the ministries requesting clearer identification so that commercial banks can balance their capital sources (mobilizing short-term capital for medium- and long-term loans), while ensuring the right subjects according to the Government's goals.

“The entire content of this has been implemented by the State Bank since April and certainly this May we will accelerate to soon achieve the Government’s goals and requirements. This morning, in the Government meeting, the Prime Minister also mentioned this content. It can be said that the Prime Minister is very interested in implementing this credit program,” said Deputy Governor Dao Minh Tu.

Source: https://thoibaonganhang.vn/21-ngan-hang-da-dang-ky-tham-gia-goi-tin-dung-500000-ty-dong-163777.html