From the “Denim heart” of Nam Dinh
As one of the typical enterprises in Hoa Xa Industrial Park (Nam Dinh), TCE VINA DENIM Joint Stock Company is the exclusive denim fabric supplier for Uniqlo in ASEAN and a strategic partner of many global brands such as H&M, Target, American Eagle.
“We faced large fixed asset investment costs and the impact of the Covid-19 pandemic, which disrupted our business operations,” said Jin-Jae-Gyeng, the company’s CEO.
 |
| TCE VINA DENIM Joint Stock Company in Hoa Xa Industrial Park (Nam Dinh) |
The turning point only came when the company received financial support from HDBank from December 2020.
“Thanks to timely capital and appropriate interest rate policies, our revenue has grown by over 20% per year, and profits have improved significantly. In particular, we have invested in converting boilers from coal to rice husk pellets and invested in water recycling and solar power equipment, which is in line with our commitment to sustainable development and emission reduction,” said Mr. Jin-Jae-Gyeng.
The company's revenue in 2024 will reach over VND 2,259 billion, of which the average export ratio will reach over 80%. As the best Denim fabric manufacturer in Vietnam, TCE has a large investment scale, modern production technology, ensuring ecological environment and social security, creating 1,900 jobs for local workers.
The story of TCE VINA DENIM Joint Stock Company is a vivid demonstration of the essential role of bank credit in helping businesses maintain and expand production activities, especially when the economy needs a boost from the private sector.
Banks accelerate capital solutions
Faced with the fact that many SMEs are having difficulty accessing traditional capital sources, a series of commercial banks have launched preferential credit packages. Viet A Bank has launched the program "Accompanying small and medium enterprises" with a limit of up to VND 500 billion, quick loan procedures, suitable for the needs of expanding production and supplementing working capital.
Not staying out of the game, Bac A Bank applies the program "Immediate fee reduction - Interest in hand", reducing service fees by up to 50% and loan interest rates by up to 1%/year, flexibly designed for each product such as guarantee, LC, international payment, internet banking...
 |
| Customers transact at Bac A Bank |
Mr. Le Thanh Phuong, representative of VietinBank, said that this bank simplifies procedures for SMEs and proactively supports short-term credit options for each specific profile, helping customers optimize capital sources and control costs effectively.
In addition, female business owners are also making a strong impression by making good use of supporting credit channels. Ms. Nguyen Thi Linh - Finance Director of Hoang An Company Limited said that after facing the request to move the factory out of Hanoi, she proactively approached SeABank to borrow nearly 10 billion VND to build a new production facility.
“I once used a VND9 billion loan from SeABank to increase working capital. The bank always accompanied and flexibly supported me when I needed it,” said Ms. Linh.
SeABank is one of the pioneers in designing financial products specifically for women-owned SMEs. Mr. Tran Duc - Deputy Director of Corporate Banking shared: “We evaluate credit not only based on collateral, but also on income, credit history and transactions. With support from IFC's We-Fi program, SeABank has access to a loan worth 170 million USD, of which at least 20 million USD is dedicated to women entrepreneurs”.
Long-term direction from policy
By the end of 2024, outstanding credit for private enterprises will reach nearly 7 million billion VND - accounting for about 44% of total outstanding debt of the entire economy, with 100 credit institutions providing capital to more than 208,000 SMEs.
According to the State Bank, by the end of the first quarter of 2025, credit growth reached 3.93%, 2.5 times higher than the 1.42% in the same period last year. The average lending interest rate decreased by 0.4 percentage points compared to the end of 2024, demonstrating the efforts of the banking industry in sharing difficulties with businesses and continuing to decrease in 2025. SMEs are enjoying a preferential interest rate of 4%/year for short-term loans in VND, to promote production and business.
Speaking at the recent Banking - Business Connection Conference, Deputy Governor of the State Bank Pham Quang Dung emphasized: “We aim for a credit growth target of 16% for the entire industry in 2025, contributing to the realization of a minimum economic growth of 8%. That requires timely connection between banks and businesses, especially in key provinces such as Thanh Hoa and Nam Dinh.”
From Agribank, Ms. Phung Thi Binh - Deputy General Director affirmed: "With the current outstanding debt of 1.74 million billion VND, up to 90% of the capital is for businesses. We are committed to the mission of developing agriculture, farmers and rural areas - the fundamental driving force of the Vietnamese economy".
In the context of the economy gradually recovering, supporting capital for businesses is not only the responsibility of the banking industry, but also a key factor in promoting sustainable economic growth. Flexible credit policies, designed specifically for each customer segment such as manufacturing enterprises, women-owned enterprises, etc. are creating a positive ripple effect, helping businesses have the strength to reach further, not only in the domestic market but also firmly step into the global playing field.
Source: https://thoibaonganhang.vn/ngan-hang-dong-hanh-cung-doanh-nghiep-vuot-kho-but-pha-tang-truong-162785.html
Comment (0)