Policy advantages
The lending program for the agriculture, forestry and fishery sector has been adjusted by the Government many times to increase the scale of loans and support loan interest rates. The first is the lending program for the aquaculture and forestry sector with a scale of 15 trillion VND, which was implemented nationwide by the State Bank of Vietnam from July 2023.
The interest rate of this program is at least 1 - 1.5%/year lower than the average lending interest rate of the same term applied by the lending bank in each period.
By the end of January 2024, 13 credit institutions participating in the program had completed lending VND15 trillion to more than 60,000 customers. From here, the State Bank directed to increase the size of this loan package to VND30 trillion. Therefore, credit institutions increased capital to disburse loans to thousands of new customers.
By August 2024, the Government assigned the State Bank to study increasing the scale of the preferential credit package for the agriculture, forestry and fishery sector from VND 30 trillion to VND 60 trillion.
In response to the response of commercial banks and the demand for loans from businesses, in Directive No. 05 on the regular Government meeting in February 2025, Prime Minister Pham Minh Chinh requested the State Bank to study increasing the scale of the lending program for the agricultural, forestry and fishery sectors to VND 100 trillion and expanding the scope of the program.
Preferential credit packages for the agriculture, forestry and fishery sectors are lent by commercial banks at an interest rate at least 1-2% lower per year than the average lending rate for the same term in each period. This is considered a meaningful and practical preferential loan package in the context of many economic difficulties.
In order for the policy to quickly come into effect, the State Bank has requested banks such as BIDV, Agribank, VietinBank, Vietcombank, LPBank, Sacombank, MB, ACB, etc. to register to participate in the program, quickly deploy the above credit package, creating favorable conditions for businesses to borrow capital to invest in production and business development.
Mr. Pham Trong - Deputy Director of State Bank Region 9 said that increasing the scale of the above lending program from 15 trillion VND to 30 trillion VND, 60 trillion VND has shown the Government's correct policy in removing difficulties, supporting production and business enterprises and promoting growth drivers of the economy.
“The advantages of the loan programs have helped businesses and business households expand exploitation and aquaculture, providing raw materials for seafood processing and export. Similarly, the policy has supported the development of the forestry economy, promoted the processing and export of forest products, opened up national advantages and been a strong growth driver,” said Mr. Trong.
Remove obstacles to disburse
According to statistics from the State Bank of Region 9, by the end of May 2025, the total outstanding balance of the agricultural, forestry and fishery credit program in Quang Nam reached more than 62.7 billion VND with 6 customers receiving loans.
It is worth mentioning that, up to now, in the whole of Quang Nam, there are only 2 credit institutions implementing preferential loan packages for agriculture, forestry and fishery, namely VietinBank Quang Nam and VietinBank Hoi An. These commercial banks provide loans with interest rates from 5.3 - 6.5%/year.
The agricultural, forestry and fishery lending sector in the province has low outstanding loans. According to Mr. Tran Minh Trinh - Director of Dong An Seafood Company Limited (Binh Trung Commune, Thang Binh), the biggest difficulty in accessing credit packages for agricultural, forestry and fishery loans is that commercial banks do not highly appreciate the production and business plans of enterprises.
Credit institutions fear that businesses that make losses after borrowing money will not be able to recover their debts and will fall into bad debt. Meanwhile, a representative of a state-owned commercial bank in Tam Ky said that the agricultural, forestry and fishery credit program requires strict procedures and documents. Borrowers must fully demonstrate invoices, documents, cash flow management, etc.
Only a few large businesses can meet the above requirements, while cooperatives and farmers, because they operate on a small scale, cannot meet these conditions.
The weakness of Quang Nam's agricultural sector is that production is fragmented, business plans lack clarity, and change constantly according to market trends.
Lack of value chain linkage, production, storage, processing and consumption stages are still fragmented, making it difficult for commercial banks to control capital flows and not highly evaluate the efficiency of production and business investment. Quang Nam is lacking large-scale high-tech agricultural production models.
Mr. Pham Trong said that the biggest bottleneck in implementing the credit package for agriculture, forestry and fishery is that commercial banks, businesses and farmers do not really understand each other.
To solve this situation, on the one hand, businesses and farmers need to improve production and business in a more modern and efficient direction, while commercial banks need to streamline procedures and reduce lending barriers.
Source: https://baoquangnam.vn/go-vuong-giai-ngan-quang-nam-thuc-day-tin-dung-vao-doanh-nghiep-3156985.html
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