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| Bank credit is properly oriented to priority areas, contributing significantly to promoting production, creating jobs and sustainable economic growth of the province. |
With the strong direction of the State Bank of Vietnam Region V and the efforts of local credit institutions, bank credit flows in Thai Nguyen are properly directed to priority areas. Thereby, it contributes significantly to promoting production, business, creating jobs for workers and sustainable economic growth of the province.
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| Credit growth chart in Thai Nguyen in the period 2020-2025. |
According to data from the State Bank of Vietnam (SBV) Region V, by the end of April 2025, the total outstanding credit balance in Thai Nguyen province reached VND 130,744 billion, an increase of 7.14% compared to the end of 2024. This is a positive growth rate in the context of the economy still under pressure from inflation, fluctuating exchange rates, high input costs and export markets facing many difficulties and being narrowed.
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Credit flows are clearly directed to production, business and key sectors. Of which, trade and services account for the highest proportion, with over VND82,900 billion; industry and construction account for over VND35,000 billion; agriculture and rural areas account for nearly VND9,000 billion. These figures show that credit has not only increased in quantity but also gone in the right direction, supporting economic restructuring and improving domestic productivity.
The above results were achieved thanks to the proactive and flexible management of the State Bank of Vietnam Region V and 36 credit institutions in the area. A series of synchronous solutions have been implemented such as: Regularly connecting banks and businesses; simplifying administrative procedures; supporting online transactions; reducing lending interest rates to facilitate production and business entities to access capital sources...
Since the beginning of the year, commercial banks have simultaneously adjusted their deposit interest rates down, while reducing lending rates for newly-arising loans by an average of 0.4% per year. This is an important factor in reducing financial costs for businesses and promoting domestic investment and consumption.
In reality, banks not only provide capital but also act as companions in the process of production recovery and development.
Mr. Duong Nhu Lam, Director of Gia Phong Company Limited (Pho Yen City), said: At the beginning of this year, we received support from BIDV for a loan of more than 20 billion VND to upgrade the unburnt brick production line. The interest rate has decreased significantly compared to last year. In particular, bank staff are very close, providing on-site guidance to complete the documents, helping businesses save time and costs. Thanks to this source of capital, businesses have the conditions to innovate technology, improve competitiveness and create more jobs for dozens of local workers.
However, not all businesses or cooperatives have easy access to capital. Some credit institutions said that although they are willing to lend, the economy’s capital absorption rate is still limited. Many businesses are facing difficulties in product output, high raw material prices and logistics costs, while consumption has not yet recovered strongly.
Some export industries, especially textiles and electronics, are being affected by the US imposing new taxes on some imported goods, forcing businesses to recalculate their investment plans.
Not only facing difficulties from the market, many small businesses and cooperatives have not yet developed a feasible business plan, have not fully updated financial records, or lack collateral to borrow capital.
According to Mr. Nguyen Van Thoi, Chairman of the Thai Nguyen Province Business Association, this is a common “bottleneck” in accessing credit capital today. “Banks need more flexible mechanisms, but businesses also need to be more professional in financial management, transparent in cash flow and development strategy,” Mr. Thoi commented.
Faced with this reality, the banking sector has been proactively implementing many synchronous solutions. On the one hand, it continues to closely coordinate with the government, departments and business associations to resolve legal problems related to mortgaged assets and loan applications.
On the other hand, some credit institutions have expanded loan packages without collateral, based on creditworthiness, cash flow and specific business plans.
In addition, the banking industry also promotes the application of technology, improves service quality, and shortens appraisal and disbursement time.
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| In the first months of 2025, bank credit capital "flowed" strongly into the trade and service sector in the province (illustrative photo). |
To ensure system safety and promote credit efficiency, SBV Region V has strengthened remote monitoring, inspection and early warning of risk signs. Capital flows are also strictly controlled to avoid flowing into risky speculative areas such as ineffective securities and real estate.
“It is not always good to have credit growth, but it is important to increase in the right direction, support the right subjects and create added value for the economy,” emphasized Mr. Le Quang Huy, Director of the State Bank of Vietnam, Region V.
In the coming time, Thai Nguyen Banking sector will continue to direct credit to dynamic sectors such as processing and manufacturing industry, high technology, modern agriculture and export. The target of credit growth in the whole province in 2025 is expected to reach about 15%. This is not just a number, but also a target associated with growth quality, job creation and improving people's lives.
With the drastic participation of the banking sector and the active cooperation of the business community, capital flows are gradually being opened up and spread to the most important "blood vessels" of Thai Nguyen's economy. This is the key driving force for the province to achieve its GRDP growth target, maintain socio-economic stability, and develop sustainably in 2025 and the following years.
Source: https://baothainguyen.vn/kinh-te/202506/thuc-day-tin-dung-tao-dong-luc-tang-truong-kinh-te-ac92d2f/
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