Which sectors "dominate" credit in Ha Tinh?

(Baohatinh.vn) - 5 key areas are being given priority to access preferential loans from the Ha Tinh Banking sector, contributing to promoting effective and sustainable local economic development.

The Vietnamese government prioritizes regulating credit flows into five key areas: exports, agriculture and rural areas, small and medium enterprises, supporting industries and high-tech enterprises. These are considered the "growth pillars" of the economy .

Implementing this orientation, the State Bank of Vietnam directed credit institutions to actively restructure capital flows, prioritizing credit provision for essential sectors, thereby contributing to improving national competitiveness, stabilizing the macro-economy and ensuring social security.

In the context of the economy struggling to recover after many fluctuations, Ha Tinh Banking sector has expanded credit, reduced lending interest rates, promoted business connections and "poured capital" into priority areas. This is an important step to create new growth momentum, contributing to the local economy developing more stably and effectively.

By early September, Ha Tinh's agricultural and rural debt balance reached over VND51,057 billion.

Agriculture and rural areas are the traditional strengths of Ha Tinh. Based on practical requirements in the process of restructuring the agricultural sector, credit institutions have focused capital on this sector to build production chains, large-scale agricultural models and apply modern technology to production. Credit capital not only solves the capital problem for enterprises, cooperatives and people but also becomes a driving force to promote the process of converting production methods, increasing added value for agricultural products, contributing to changing the face of Ha Tinh's countryside in a modern direction.

Mr. Tran Hau Long - Deputy Director of Agribank Cam Xuyen said: "The branch's outstanding debt currently reaches 4,000 billion VND, of which 95% is focused on agriculture and rural areas. Preferential credit packages with interest rates starting from only 4.5%/year are effectively accessed by customers. Credit capital for priority areas not only helps improve the efficiency of agricultural production but also contributes to fundamentally changing the face of the rural economy, creating momentum to promote the new rural construction program".

Production line at Sao Mai Joint Stock Company.

Ha Tinh has 13,000 enterprises and affiliated units, mainly small and medium enterprises (SMEs). Compared to FDI enterprises, SMEs' potential is more limited, so capital support from banks is the driving force for SMEs to develop. Many enterprises in Ha Tinh have integrated into the market economy, participating more deeply in the global supply chain. The province's main export products such as steel, steel billets, textiles, fibers, seafood, pharmaceuticals, etc. have affirmed their position in the international market, bringing in large foreign currency for the locality. Behind the impressive business results of these enterprises is the support of the banking sector.

Sao Mai Joint Stock Company (Bac Cam Xuyen Industrial Park) specializes in exporting packaging to Southeast Asia, Korea, Japan, and the US. The company receives loans from banks to invest in infrastructure and automated technology lines, ensuring production with constantly increasing revenue, creating jobs for hundreds of local workers.

In Ha Tinh, high-tech enterprises are always given preferential loans by the banking sector to invest in technological infrastructure. Mr. La Thai Hai - Director of Viet Hai High-tech Components Manufacturing Company Limited (Song Tri Ward) said: "The unit invests in production lines and technological equipment from advanced countries to produce and supply commercial concrete and prestressed centrifugal concrete piles. Enterprises are given preferential loans by banks to invest in infrastructure and serve production and business. Products are widely supplied to large general contractors at home and abroad, with revenue of hundreds of billions/year".

Viet Hai High-Tech Components Manufacturing Company Limited is a high-tech application enterprise with revenue of hundreds of billions of VND/year.

Outstanding credit balances in 5 priority sectors in Ha Tinh have increased year by year, reflecting the effectiveness of policies and support mechanisms from the Central and local governments. At the same time, it shows that the financial capacity, competitiveness and capital absorption capacity of enterprises and establishments in these sectors are increasingly consolidated and improved. Total outstanding loans of the Ha Tinh banking sector by early September reached over VND 120,380 billion, an increase of more than 10.5% compared to the beginning of the year. Of which, outstanding loans in some priority sectors account for a large proportion, such as: agriculture - rural areas VND 51,057 billion (up 7.9% compared to the beginning of the year), small and medium enterprises over VND 13,100 billion (up 24% compared to the beginning of the year)...

One thing worth noting is that the policy is relatively open, however, there are still many businesses and establishments in priority sectors that have not yet accessed credit capital. The reasons stem from limited economic potential, unsecured business records and documents, no feasible project or business plan to use the loan capital effectively... To improve access to capital, businesses and establishments in priority sectors need to build transparent financial records, have a feasible business plan, demonstrate profitability, demonstrate compliance with legal regulations...

Ha Tinh Banking Industry always prioritizes capital for key areas according to the Government's direction.

On the bank side, we will continue to accompany the capital flow to the economy with solutions such as: reducing costs, reducing lending interest rates; increasing access to capital for priority sectors, implementing solutions to support businesses affected by natural disasters and epidemics; promoting bank-business connections to promptly resolve credit difficulties...

Source: https://baohatinh.vn/linh-vuc-nao-chiem-song-tin-dung-o-ha-tinh-post295913.html