Private economic development is a major breakthrough policy of the Party and State in the long-term orientation of the country's economic development. |
“Identifying” business households in the enterprise system promotes economic development
Resolution No. 68-NQ/TW dated May 4, 2025 of the Politburo (Resolution 68) emphasizes that the private economy is the most important driving force of the economy, a pioneering force in the development of science and technology and innovation. The Resolution is a “policy pillar” in promoting the development of the private economy - a sector that increasingly plays a key role in Vietnam's economy.
With the goal of reaching 2 million enterprises by 2030, one of the focuses of Resolution 68 is to transform millions of existing business households into formal enterprises, especially the micro-group - which accounts for a large proportion but has not been "identified" in the enterprise system. To achieve this goal, the Resolution has proposed many solutions, including practical incentive policies to encourage business households to convert into enterprises such as: exemption of corporate income tax for the first 3 years, exemption of business license fees for the first year, and support of a 30% reduction in land rent for 5 years.
Vietnam currently has more than 5 million business households in operation, many of which have developed to the same scale as enterprises such as: having stores, hiring employees, using electronic invoices, operating sales systems. Economic experts assess that the conversion from business households to enterprise models is not only to comply with legal regulations, but also brings many practical benefits to the business people themselves. This conversion contributes to promoting the growth of the private economic sector, improving competitiveness. In addition, the ability to access bank capital will be more effective because the integration of data from the electronic invoice system and sales software will help banks correctly assess the situation of the enterprise, make credit decisions quickly, accurately, and more in line with actual needs.
Agribank offers great incentives for business households converting into enterprises
One of the tasks and solutions to effectively implement Resolution 68 is to promote and diversify capital sources for the private economy. Resolution 68 encourages banks to become strategic partners of enterprises, creating conditions for enterprises to access capital, digital transformation and sustainable development. Accordingly, it can be seen that the banking industry plays an important role in promoting the private economy, especially in providing capital, financial support and other banking services for small and medium enterprises (SMEs) and innovative startups.
In the current context, the whole country has about 940 thousand private enterprises and more than 5 million business households in operation, accounting for more than 97% of the total number of enterprises, contributing about 50% of GDP, more than 30% of total state budget revenue and creating jobs for millions of workers. The banking industry determines that the role of credit institutions is not only to provide credit but also to be a long-term partner, loyally attached to enterprises for sustainable development together.
As a leading commercial bank, Agribank always clearly identifies its pioneering role in implementing the Party and State's directives and policies. Accompanying and supporting individual business households to transform their operating models and improve their competitiveness according to Decree 70/2025, Agribank has launched the incentive program "Breakthrough transformation - Elevating enterprises". The program takes place from July 15, 2025 to July 15, 2026, for business households that have transformed into enterprises from January 1, 2025 and enterprises that open payment accounts at Agribank for the first time.
With the desire to accompany customers in the period of transforming their operating model, Agribank offers many practical incentives within 12 months from the date customers join the program. Accordingly, when participating in the program, customers will be exempted from account management fees, free electronic banking services (Agribank Corporate eBanking), given a package of 1POS sales management solutions and Invoice electronic invoice solutions to help units improve operational efficiency and manage finances more effectively, conveniently and modernly. In addition, SMEs also receive preferential loan interest rates with a reduction of 0.8%/year - 1.2%/year compared to the normal lending interest rate floor, flexible funding forms suitable for capital needs and production and business models of customers.
Agribank offers great incentives for business households converting into enterprises |
Previously, committing to accompany small and medium-sized enterprise customers to promote production and business activities, Agribank implemented the program "Prosperity with SMEs in 2025", providing 60,000 billion VND of short-term preferential capital with interest rates lower than the normal lending interest rate floor by up to 1.2%/year. The program not only meets customers' regular working capital needs but also provides SMEs customers with comprehensive financial solutions, meeting all production and business needs such as payment services and cash flow management, trade finance services... on diverse product supply channels.
SMEs customers who transact for the first time at Agribank also enjoy preferential interest rate policies, supporting businesses with stable capital sources for business operations. In addition, SMEs operating in import and export activities can participate in the preferential credit program for import and export enterprises with many incentives on interest rates, exchange rates, service fees and foreign currency exchange rates. SMEs in the process of investing in expanding production and business, digital transformation or investing in green projects are supported with preferential capital for up to 24 months.
With practical financial incentives and readiness to support customers during the transition period, Agribank is committed to accompanying SMEs, promoting the effective development of the private economic sector, contributing to the implementation of the country's economic development policy.
With the mission of serving the “three rural areas”, Agribank prioritizes credit investment in essential areas, developing agriculture, forestry, fisheries and green projects. Agribank actively participates and is “positioned” as a key and pioneering bank in important projects such as the Sustainable Development Project of 1 million hectares of high-quality, low-emission specialized rice, contributing to the sustainable agricultural development of the country. The proportion of loans in the “three rural areas” of Agribank is always high (over 65%), demonstrating a strong commitment to its mission. Agribank strives to diversify capital channels, bring banking services to the people, help people avoid black credit traps, especially in rural areas and remote areas; At the same time, Agribank actively deploys technological solutions to serve customers' needs for easy, fast, and convenient payment, supporting customers to access digital finance, spreading non-cash payment methods, contributing to financial inclusion. In addition, Agribank regularly reduces lending interest rates, restructures debt repayment terms, and provides new loans to support businesses to overcome difficulties, especially in the context of economic fluctuations.
Agribank’s efforts not only contribute to promoting the development of the private economy, especially the household business sector and SMEs, but also make an important contribution to the implementation of the Party and State’s policies and guidelines on long-term national economic development. Agribank is continuing to strive to affirm its position and brand as the leading commercial bank in Vietnam, the main investor in developing the “three agricultures” economy, making an important contribution to the country’s economic development.
Source: https://baodautu.vn/agribank-tich-cuc-ho-tro-ho-kinh-doanh-chuyen-doi-thanh-doanh-nghiep-d339427.html
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