Investing in trade and services

Production facilities increase the quantity of goods to meet year-end demand. Photo: KHANH HOA

Continued positive growth momentum

A report from the State Bank of Vietnam, Regional Branch 9, shows that credit for the trade and service sectors in Da Nang continues to maintain a positive growth momentum as the city's economy continues to recover positively. Commercial banks are accelerating the implementation of a series of preferential credit programs for corporate and individual customers. Not only stopping at short-term loans, many medium and long-term loan packages also apply attractive interest rates to stimulate people's consumption and investment needs. Many large banks have launched many flexible consumer loan packages, meeting diverse borrowing purposes of customers.

Up to this point, outstanding credit for the trade and service sector in the city has reached VND 312,531 billion, an increase of 23.99% compared to the end of 2024, accounting for 72.85% of the total outstanding debt in the whole area. This growth rate is significantly higher than the remaining two sectors: agriculture - forestry - fishery and industry - construction. Some of the main reasons affecting this positive result are the strong recovery of trade and service activities in the city in recent times. The wholesale and retail sector is affected by the season, the need for capital to prepare goods and finance increases sharply before the peak season at the end of the year and Lunar New Year. Meanwhile, the increase in tourism also contributes to stimulating demand, improving domestic purchasing power.

Ms. Do Thi Tuong Linh, Head of the General Department of the State Bank of Vietnam, Branch 9, said that in order to expand the space for subjects to access credit loans at the end of the year, the State Bank of Vietnam, Branch 9, has directed credit institutions to proactively reduce costs to reduce the lending interest rate level. Publicly and transparently disclose interest rates of credit programs and packages for businesses to easily access. Implement policies to support businesses and business households in accordance with the direction of the State Bank of Vietnam . Currently, the interest rate level for new loans arising in the area continues to decrease, contributing to supporting economic recovery. Specifically, short-term loan interest rates are commonly 5.5 - 7.5%/year; maximum short-term loan interest rates for 5 priority sectors are 4.0%/year; medium and long-term loan interest rates are commonly 8.0 - 10.0%/year, applied to many trade - service projects that need to expand investment.

Forecasts from the State Bank of Vietnam, Regional Branch 9, show that in the last two months of 2025, credit for the trade and service sector will continue to increase as businesses expand production and business to serve the Lunar New Year, along with increased demand in the wholesale, retail and accommodation and catering services sectors.

From now until the end of the year, many large consumer shopping stimulus programs will be implemented. Also during this time, retail systems and manufacturing enterprises will simultaneously launch many stimulus programs and large incentives to attract purchasing power, and at the same time stimulate credit borrowing among individual customers.

For example, the demand for consumer loans in the field of buying houses and cars has increased significantly. In the last months of the year, the number of car buyers increased sharply, in which the proportion of customers using bank loans is a large signal showing that the resilience of the consumer finance market is returning while the room for growth is still very large. The system of credit institutions in the area meets the demand for legal and safe capital, in accordance with the management policy of the State Bank of Vietnam.

The fulcrum of businesses and consumers

In its role as a state management agency in the field of currency, banking and foreign exchange activities in the provinces and cities of Da Nang, Hue and Quang Ngai, in recent times, the State Bank of Vietnam, Regional Branch 9, has actively deployed and implemented synchronous solutions to effectively promote the role of credit capital sources according to the viewpoints and orientations of the Party and Government on economic development; integrating credit growth targets in the orientation of the banking sector's development and in the process of implementing monetary and credit policies, creating conditions for organizations and individuals to implement projects.

Mr. Nguyen Xuan Son, Director of Huong Que Production, Processing, Import-Export Trading Company Limited (Hoa Khanh Ward) expressed that credit capital from banks is always a fulcrum to help businesses convert capital flows to invest in production and business activities. With the current lending interest rate, it basically encourages businesses to boldly borrow capital to expand their scale and production and business activities.

Year-end credit activities poured into the trade and service sector also show favoritism for projects and production and business plans that are friendly to the environment. Credit institutions lend to consumption, investment, production and business needs without causing risks to the environment, contributing to protecting the common ecosystem.

Mr. Le Anh Xuan, Director of the State Bank of Vietnam, Regional Branch 9, said: “Currently, we are focusing on directing credit institutions and foreign bank branches in the area to concentrate resources to provide credit for projects and production and business plans in all sectors, industries and fields; in which priority is given to projects that are friendly to the environment and society, promoting green credit growth. We are promoting the credit program for green fields on mass media and in the unit”.

Regarding green credit outstanding balance in the area, Mr. Xuan said that more than 30 credit institution branches have generated green credit outstanding balance with a total amount of more than 11,000 billion VND, accounting for nearly 2% of total outstanding balance; mainly focusing on renewable energy and clean energy (accounting for about 35% of total green credit outstanding balance).

Source: https://baodanang.vn/rot-von-vao-thuong-mai-dich-vu-3312238.html