Urgent need to push capital into the economy

loan 3 — Agribank officials from the Quang Nam branch survey a model of cultivating Ngoc Linh ginseng in Tra Linh commune using loan capital. Photo: QUANG VIET

Credit growth target: 16%

In 2023, GDP (gross domestic product) grew by nearly 7%, while credit growth reached 14.55%. In 2024, GDP growth is projected at 7.09%, and credit growth at 15.08%. Typically, to achieve a 1% increase in GDP, credit growth must be 2% or higher. The government has set a target of 8% or higher for the national GDP growth in 2025, therefore the State Bank of Vietnam has directed credit growth to reach 16% or higher.

According to a representative of the State Bank of Vietnam, the monetary policy direction for 2025 is to control inflation, stabilize the value of the currency, and support economic growth.

To ensure sufficient capital for the economy, monetary and credit policies in 2025 face significant responsibilities. Commercial banks need to effectively inject capital into the economy.

The State Bank of Vietnam, Region 9, has high expectations for credit targets in 2025. Photo: QUANG VIET

The State Bank of Vietnam will continue to mobilize idle capital from businesses and individuals through reasonable interest rate policies. If necessary, the State Bank will utilize capital supply and refinancing tools, or other forms of monetary market operations.

Mr. Pham Trong, Deputy Director of the State Bank of Vietnam Region 9 (covering Hue City, Da Nang City, and Quang Ngai Province), expressed strong confidence that the 16% credit growth target for 2025 will be achieved.

Notably, the economy is gradually recovering and developing. Moreover, signs of recovery have been present since 2024, with businesses in the city and across the country seizing the opportunity and implementing various solutions to accelerate economic growth. While production and business are improving, both domestic and international markets are also expanding.

This is clearly demonstrated by the figures released by the General Statistics Office (Ministry of Finance) on August 6, 2025: The total value of goods exports and imports nationwide in July 2025 reached US$82.27 billion (an increase of 8% compared to the previous month and a 16.8% increase compared to the same period last year). For the first seven months of 2025, the total value of goods exports and imports reached US$514.7 billion (a 16.3% increase compared to the same period last year, with exports increasing by 14.8%).

Injecting capital into the economy

According to Mr. Tran Ngoc Anh, Director of Agribank's Quang Nam branch, as of July 31, 2025, the unit's total mobilized capital reached VND 29,841 billion (an increase of VND 1,955 billion, equivalent to 7.01% compared to the beginning of the year). Total outstanding loans reached VND 19,597 billion (an increase of VND 886 billion, equivalent to 4.74% compared to the beginning of the year). Of which, loans to agriculture and rural areas reached VND 14,850 billion (accounting for 75.8% of total outstanding loans). Loans serving agricultural and rural development at Agribank's Quang Nam branch grew by 10.35% during the 2017-2024 period.

loan 2 — Agribank's Quang Nam branch is injecting capital into rural areas. Photo: QUANG VIET

Thanks to its investment orientation focused on production, cultivation, livestock farming, and processing of agricultural, forestry, and aquatic products, and its extensive organizational network, Agribank's Quang Nam branch has played a crucial role in supporting farmers in the agricultural and rural sectors.

Credit has reached farmers, including those in particularly remote and disadvantaged areas, contributing to socio-economic development in the city.

Agribank's lending policy at Quang Nam branch facilitates access to capital for many households without requiring collateral, and the loan application process is simple and quick.

By effectively implementing credit policies, banks have contributed to the transformation of the economic structure, the structure of crop and livestock varieties, and the shift from small-scale to concentrated, highly efficient livestock farming. Farmers have gained access to affordable capital, significantly reducing illegal lending in rural areas.

Mr. Vo Van Duc, Director of Vietcombank's Quang Nam branch, said that the bank has sufficient capital with reasonable interest rates to meet the production and business needs of enterprises and individuals. Commercial banks are saving costs and reducing lending interest rates to support customers borrowing capital. Credit institutions are streamlining procedures; as long as businesses and individual customers have a reasonable loan plan, disbursement will be quick.

Da Nang's economy is experiencing positive growth, with its GRDP (gross regional product) reaching VND 148.8 trillion in the first six months of the year. This result is driven by a balanced recovery in credit across all three economic sectors.

In the first six months of the year, credit to the industrial and construction sector played a leading role with a growth rate of 13.19%; the service sector, which accounts for a large proportion of the city's economic structure, grew by 10.37%; and the agriculture, forestry, and fisheries sector increased by 3.44%.

Mr. Le Anh Xuan, Director of the State Bank of Vietnam Region 9, affirmed that the unit continues to direct commercial banks and people's credit funds to focus on channeling loans into production and business sectors, priority sectors, economic growth drivers, and new growth drivers. The entire sector will strengthen strict control over credit in sectors with potential risks, ensuring safe and effective credit operations, and creating momentum for socio-economic development in the region.

Source: https://baodanang.vn/cap-thiet-day-von-vao-nen-kinh-te-3298905.html