Ho Chi Minh City: Credit growth in 4 months higher than the same period in the last two years

According to Mr. Lenh, in the first months of 2025, credit capital will focus on priority sectors, production - export, consumption and key industries that contribute a large proportion to the city's economic growth. In Ho Chi Minh City, the processing and manufacturing industry; construction; agriculture and forestry; transportation and warehousing sectors... all had credit growth rates in the first quarter of the year of over 1.5%.

For the export sector, the Ho Chi Minh City Banking sector is having many solutions to support businesses in the direction of reducing costs, creating favorable conditions for capital transactions, banking services, etc. In particular, for export enterprises, commercial banks continue to expand and promote short-term loans in VND with interest rates not exceeding 4%/year according to regulations on short-term loans in VND for 5 priority industry groups.

In addition, credit institutions provide maximum support for foreign currency loans for import-export enterprises that are eligible to access low-cost loans. This creates room for business growth under the impact of market factors and the impact of the new US tariff policy.

Despite being under pressure to ensure the stability of macro indicators in the context of many changes in the financial and monetary markets; international capital markets. The representative of the State Bank of Vietnam, Region 2 Branch, said that the city's banking sector is still committed to closely monitoring the economic developments to deploy activities, meeting the capital needs of the production, trade, service, tourism and import-export sectors.

Concretize by promoting credit growth, increasing the disbursement speed of preferential interest rate credit packages and disbursing the credit package worth VND 517,065 billion of credit institutions registered in early 2025 in the Bank - Enterprise Connection Program of Ho Chi Minh City.

Mr. Nguyen Xuan Thanh - lecturer at Fulbright University Vietnam, said that by the end of the first quarter of 2025, the State Bank of Vietnam had flexibly and proactively managed monetary policy to ensure both economic growth support and stable exchange rates and interest rates... The new US tariff policy, the State Bank's monetary policy management in the current period has many challenges, from economic growth and implementation of international trade commitments. While stabilizing exchange rates, interest rates and maintaining inflation control targets. Mr. Thanh predicted that the tariff negotiations between Vietnam and the United States will bring positive results for both sides, the maximum reciprocal tax rate that the United States applies to Vietnam's export goods may be around 18% -22%, or even lower, at 10% -15%.

Source: https://thoibaonganhang.vn/tp-ho-chi-minh-tang-truong-tin-dung-4-thang-cao-hon-cung-ky-hai-nam-gan-nhat-163936.html