Outstanding debt of Ha Tinh banking sector is estimated at 89,560 billion VND

Ha Tinh Banking sector has made efforts to "pour capital" into the fields of agriculture - rural areas, industry - construction, trade - services..., creating momentum for economic growth. Up to now, the total outstanding debt of the whole area is estimated at 89,560 billion VND.

Agriculture is one of the pillars of Ha Tinh's economy, therefore, developing credit in the agricultural and rural sectors is a key goal of credit institutions in the area. Accordingly, Ha Tinh's banking sector has continuously created conditions for providing capital for people, cooperatives, and cooperative groups to build potential economic models associated with the strengths of each region such as: fishing, aquaculture, seafood processing; livestock and poultry farming; fruit tree and forestry planting...

Agriculture and rural areas are the "fertile land" of credit institutions in Ha Tinh.

In particular, implementing the National Target Program on New Rural Development, many high-tech and linked agricultural models also have strong support from the banking sector. Accordingly, credit for agricultural and rural development in Ha Tinh currently reaches over VND41,229 billion, accounting for about 46.1% of the total outstanding debt in the whole area.

Mr. Tran Van An - owner of a high-tech shrimp farming model in Xuan Hoa residential group, Loc Ha town shared: “Nearly 20 years ago, I started my business by raising shrimp in a 2-hectare earthen pond. The amount of 300 million VND that Agribank Loc Ha District Branch "supported" since 2009 has helped us expand the scale and produce sustainably. In 2013, I boldly expanded the model and switched to high-tech shrimp farming for high efficiency. My family currently owns 10 hectares of high-tech shrimp farming in greenhouses with a scale of 4 million shrimp/batch, 2-3 batches per year, generating a revenue of 20 billion VND/year, creating regular jobs for 15 local workers with a salary of 10 million VND/person/month”.

Outstanding debt of Ha Tinh banking sector is estimated at 89,560 billion VND

Customers transact at Agribank Ha Tinh Branch.

According to Mr. Vo Huy - Deputy Director of Agribank Ha Tinh Branch, identifying agriculture and rural areas as the main "space" for credit development, in recent times, the unit has proactively and effectively implemented credit programs related to "three rural areas", contributing to the integration of Ha Tinh agriculture. Up to now, the total outstanding debt of the branch has reached over 13,000 billion VND, of which the agricultural and rural sector accounts for 90% of the total outstanding debt.

In recent times, Ha Tinh banking sector has also prioritized investment capital to promote the development of industry and construction. Many factories and enterprises have been established and developed in the industrial and handicraft sectors such as: Tran Chau Construction Investment Company Limited, Export Garment Joint Stock Company, Sao Mai Joint Stock Company (Bac Cam Xuyen Industrial Park); Song La Xanh Packaging Joint Stock Company (Duc Tho Industrial Park), Hanoi - Nghe Tinh Beer Factory (Hong Linh Town)... all have investment capital from credit institutions.

In addition, a series of businesses and establishments operating in the field of construction investment are also growing day by day, undertaking the construction of many large projects inside and outside the province, all with support from "banks".

It is known that Ha Tinh's industrial and construction credit currently reaches over VND 19,415 billion, an increase of 9.97% compared to the end of 2022 and accounting for 21.7% of total outstanding loans.

Outstanding debt of Ha Tinh banking sector is estimated at 89,560 billion VND

Industrial and construction credit of Ha Tinh Banking sector currently reaches over 19,415 billion VND.

Mr. Phan Tri Nghia - Chairman of the Board of Directors and Director of Song La Xanh Packaging Joint Stock Company (Duc Tho Industrial Park) said: With investment capital from Vietcombank Bac Ha Tinh, the packaging factory has been operating since 2020 and has continuously expanded in scale. Accordingly, each year, the enterprise supplies a large amount of goods to the markets of the Philippines, Singapore, Taiwan, New Zealand... Up to now, the unit's revenue has reached hundreds of billions of VND/year, creating jobs for nearly 400 local workers.

According to the leader of Vietcombank Bac Ha Tinh Branch, the unit always prioritizes capital for small and medium enterprises; organizations and individuals operating in the fields of industry, handicrafts, and construction in the Bac Ha Tinh area. In particular, focusing on "pour capital" into industrial clusters: Thai Yen, Duc Tho... The total outstanding debt of the entire branch currently reaches about 5,500 billion VND.

In recent times, the State Bank of Ha Tinh Province Branch has regularly directed credit institutions to direct credit to production and business sectors, priority sectors and economic growth drivers according to the Government's policy. At the same time, it has implemented solutions to facilitate customers in accessing credit capital; simplify lending procedures; publicly and transparently list loan procedures and processes; ensure safe and effective credit activities; continue to closely monitor credit in potentially risky sectors.

According to data from the State Bank of Vietnam, Ha Tinh Branch, as of August 31, 2023, the total outstanding debt in the area is estimated at VND 89,560 billion, an increase of 2.71% compared to the end of 2022. In particular, credit institutions have increased capital sources into economic sectors and industries, contributing significantly to promoting the socio-economic development of the province.

Outstanding debt of Ha Tinh banking sector is estimated at 89,560 billion VND