The province has over 6,800 operating enterprises, of which about 90% are private enterprises and mainly small and micro-sized. Unlike state-owned enterprises and FDI enterprises, private enterprises face many difficulties in the process of operation and activities; they must be autonomous, self-responsible in all decisions, and self-manage capital sources for production and business investment. Therefore, the support of credit institutions in providing "cheap" capital, promptly removing difficulties with solutions such as: increasing loan limits, reducing loan interest rates, restructuring debts, extending debt repayment periods, etc. helps the private enterprise sector develop step by step.
In practice, thanks to the support of the banking sector, Ha Tinh private enterprises have gradually grown, with some units building production chains, becoming multi-sector enterprises with many members, creating jobs for a large number of local workers such as: Viet Hai Transport Service and Trading Company Limited (Thach Ha), Hoanh Son Group Joint Stock Company (Hong Linh Town)...
The private sector in Ha Tinh operating in the construction and installation sector accounts for a large proportion. However, they are mainly small and micro enterprises with limited collateral and financial scale, so the bank's provision of capital guarantees has helped enterprises have enough potential to implement projects, seize development opportunities, and raise their business level.
With the support of BIDV Ha Tinh since its early days of establishment, Vinh Phuc Company Limited (Ha Tinh City) has now become a "famous" construction and installation enterprise in the area. With a system of modern machinery and equipment and a professional operating process, the unit has implemented many projects, creating stable jobs for hundreds of workers in the field of basic construction (transportation, irrigation), with revenue of hundreds of billions of VND/year.
The banking sector also creates a foothold for private enterprises to have enough potential to develop in the export sector. The exciting thing is that the competitiveness of Ha Tinh private enterprises is increasing not only at home but also gradually reaching out to the world. The province's main export products such as textile fibers, garments, tea, wood chips, packaging, etc. of private enterprises have affirmed their competitiveness in many countries.
According to Mr. Phan Tri Nghia - Chairman of the Board of Directors and Director of Song La Xanh Packaging Joint Stock Company (Duc Tho Industrial Park): To have the foundation as it is today, the enterprise has received great support from the banking industry. The unit has received loans from credit institutions in Ha Tinh such as Vietcombank, BIDV... to invest in factories that meet automation standards as well as create conditions for working capital loans to serve the production and business chain; helping enterprises seize investment opportunities and increase competitiveness in the market. Up to now, packaging products of Song La Xanh Packaging Joint Stock Company have been present in many countries such as: Philippines, Singapore, Taiwan, New Zealand, Thailand... The enterprise's revenue has reached over 200 billion VND/year, creating jobs for nearly 500 local workers.
In the private economic sector, in addition to the enterprise sector, in recent times, business households have also gradually caught up with the development trend of the market economy. Ha Tinh currently has more than 53,000 business households in many fields, many of which have accessed bank capital to invest in production - business, services in the direction of product brand recognition, implementing distribution chains, and consuming goods based on the foundation of commercial civilization.
BIDV Ha Tinh is one of the "banks" that promote capital for the private economic sector, helping businesses and business households to increase their scale of operations.
Mr. Tran Phu Vinh - Head of Planning and Finance Department (BIDV Ha Tinh) said: As of May 31, 2025, the total outstanding debt of the entire branch reached over VND 8,000 billion, an increase of 8% compared to the beginning of the year, of which the outstanding debt of the private economic sector was about 80% of the total outstanding debt. Resolution 68-NQ/TW dated May 4, 2025 of the Politburo on private economic development determined that in a socialist-oriented market economy, the private economy is the most important driving force of the national economy. Implementing the direction of the Government, the State Bank of Vietnam and BIDV Vietnam, BIDV Ha Tinh continues to accompany and create favorable conditions for the private economic sector of Ha Tinh to develop in line with its potential and advantages.
In addition to the “Big 4” group, the group of non-state-owned joint stock commercial banks has also prioritized resources for the private economic sector. Mr. Nguyen Viet Cuong - Deputy Director of Bac A Bank Ha Tinh said: “Private credit outstanding accounts for over 80% of the total outstanding loans of the entire branch. Accompanying to solve difficulties for the economy, Bac A Bank has been supporting businesses and business households by lowering lending interest rates, accordingly, short-term lending interest rates are currently only from 5%, medium and long-term lending rates are only from 7.5% (a decrease of about 30% compared to 3 years ago). In the coming time, Bac A Bank will continue to implement preferential credit programs specifically for production - business, the growth drivers of the economy".
Realizing the role and potential of the private economic sector for the development of the economy, the banking sector, as the "bloodline" of the economy, has implemented many credit mechanisms and policies, creating investment opportunities for Ha Tinh private enterprises to have certain steps of maturity. According to the State Bank of Region 8, the total outstanding debt of the Ha Tinh banking system as of May 31, 2025 reached about VND 118,860 billion, of which corporate debt accounted for over VND 33,000 billion.
However, private enterprises in the area still face "barriers" in accessing credit due to their small scale and production capacity, limited financial potential, low competitiveness, etc. Mr. Le Duc Thang - Chairman of the Provincial Business Association commented: Vietnam's economy is recording recovery and development after the COVID-19 pandemic, but still faces many difficulties and challenges from trade wars and global economic recession. Accordingly, the business community and people will have many disadvantages in the production and business process.
Resolution 68-NQ/TW of the Politburo has proposed solutions to unblock capital flows for the private economy, creating conditions to improve the capital access process for enterprises. However, for this sector to make a breakthrough in the new era, there needs to be more synchronous coordination between banks - enterprises and State management agencies. On the part of Ha Tinh private enterprises, it is necessary to determine a new mindset in the integration period, continue to innovate, build and implement scientific production - business strategies, suitable for reality, boldly change the operating model if it is not effective, proactively adapt in the context of fierce competition between economies...
Source: https://baohatinh.vn/dong-von-ngan-hang-don-bay-kinh-te-tu-nhan-post289058.html
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