Promote and diversify capital sources for the private economy

Resolution No. 68-NQ/TW dated May 4, 2025 of the Politburo affirms that the private economy is "one of the most important driving forces of the national economy", and at the same time sets out the urgent need to promote and diversify capital sources for this sector. In the context that access to credit is still a major barrier for businesses (according to the PCI 2024 Report), Quang Ninh has proactively implemented many strong solutions to remove capital bottlenecks, gradually realizing the spirit of Resolution No. 68-NQ/TW into economic life.

Báo Quảng Ninh•02/12/2025

Based on the orientation of Resolution No. 68, the State Bank of Vietnam, Region 6 Branch, has directed credit institution branches in Quang Ninh to clearly prioritize credit capital for private enterprises, especially small and medium enterprises, supporting industry enterprises, innovative start-ups and projects related to green transformation and digital transformation. Banks in the area have proactively expanded credit based on the appraisal of production and business plans, cash flow, value chains, and future assets, gradually keeping pace with the spirit of data-based lending and modern credit models required by Resolution 68. Thanks to that, capital flows into the private economic sector of Quang Ninh have increased sharply, reflecting the confidence in recovery and the trend of expanding investment of enterprises.

By October 31, 2025, the total outstanding credit balance of the whole province reached VND 214,276 billion, an increase of 8.3% compared to the end of 2024; it is estimated that by November 30, 2025 it will reach VND 219,000 billion, an increase of 10.7%. In this structure, the non-state economic sector continues to be strongly prioritized, with outstanding loans reaching VND 197,000 billion, accounting for 90% of total outstanding loans and increasing by 12.1% compared to December 31, 2024. Notably, outstanding loans to non-state enterprises reached VND 66,300 billion, accounting for 30.3% of total outstanding loans and increasing by 19.3%, demonstrating the trend that enterprises are boldly investing in expanding production, innovating technology and catching up with market trends. Along with that, outstanding loans to business households and individuals reached VND130,000 billion, accounting for 59.4% and increasing by 9.9%, continuing to be an important resource to maintain the vitality of the grassroots economic sector, which accounts for a large proportion of the province's private economy.

In addition to prioritizing capital sources, Quang Ninh has also proactively created a dialogue mechanism to resolve difficulties in the spirit of "accompanying businesses". Since the beginning of 2025, the State Bank of Vietnam, Region 6 Branch, and credit institutions have organized or participated in 19 conferences to contact businesses across the area. These dialogues are an important bridge to communicate credit policies, receive and handle problems related to loan conditions, collateral, interest rates, or application procedures. In particular, on March 21, 2025, the Conference "Promoting bank credit, contributing to promoting economic growth" chaired by the State Bank of Vietnam, Region 6 branch, in coordination with the State Bank of Vietnam, created a regional linkage forum, with the participation of central and local leaders, along with more than 210 credit institution branches and 115 enterprises and cooperatives from Hai Phong, Hai Duong, Hung Yen, Quang Ninh and Thai Binh . This is a step showing that Quang Ninh not only overcomes difficulties within the locality but also actively promotes interconnected capital flows, expanding investment and development opportunities for private enterprises in the entire Northern economic region.

Along with credit expansion, credit institutions in the area have applied a quality management system and promoted procedural reform in each stage of service provision. In the first 11 months of 2025, the entire system received and resolved 1,645 administrative procedures in the field of foreign exchange and banking activities. Shortening the time for processing documents and returning results on time and ahead of schedule has helped businesses proactively plan production, especially those implementing high-tech projects, innovating machinery or applying ESG standards according to the green credit development orientation of Resolution 68. Along with that, banks publicly disclose processes, procedures, interest rates, and service fees on their websites and at transaction points, helping customers fully grasp their rights and obligations. Widely communicating preferential loan programs also helps private enterprises and business households have more opportunities to access cheap capital, suitable for each investment need.

The results achieved show that Quang Ninh is on the right track in implementing the task of promoting and diversifying capital sources for the private economy as set out in Resolution 68. Credit capital flows have grown steadily, accounting for an overwhelming proportion in the non-state economic sector, accompanied by strong improvements in access procedures and in the business dialogue mechanism. These are important signals for the private economic sector to continue to affirm its role as the province's growth engine, while strengthening confidence in a more transparent, professional and favorable investment and business environment.

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