Vinh Phuc: 'Resolving difficulties' for businesses in accessing credit capital

On the morning of November 3, the State Bank of Vietnam (SBV) Vinh Phuc branch coordinated with the Joint Stock Commercial Bank for Investment and Development of Vietnam Vinh Phuc branch and Phuc Yen branch to organize a conference connecting banks and businesses to remove difficulties and obstacles for customers in accessing credit capital and promote credit growth in the last months of 2024.

According to the report of the State Bank of Vietnam, Vinh Phuc branch, accompanying the business community to overcome difficulties and create momentum to promote production and business, in recent times, the banking sector in Vinh Phuc has implemented many solutions to boost credit growth such as reducing interest rates, publicizing lending interest rates; implementing credit growth according to the additional targets adjusted by the State Bank of Vietnam; promoting the connection between banks and businesses; offering many preferential credit packages suitable for each customer group; simplifying loan procedures, applying digital transformation to the credit granting process, etc.

As of September 30, credit institutions had lent capital to 3,208 enterprises, with outstanding loans reaching VND56,438 billion, accounting for over 41% of total outstanding loans. Of which, 1,137 new loans were given to corporate customers through the bank-enterprise connection program, with total outstanding loans reaching VND19,300 billion.

Vice Chairman of Vinh Phuc Provincial People's Committee Nguyen Khac Hieu directed the banking sector to resolutely implement solutions, not allowing businesses with good business plans to "starve" for capital. Photo: Chu Kieu

Particularly, the Joint Stock Commercial Bank for Investment and Development of Vietnam, Vinh Phuc branch and Phuc Yen branch, since the beginning of the year have reduced lending interest rates for businesses from 1.5 - 2.5%/year depending on the term.

By the end of September 2024, the unit had outstanding loans to corporate customers of VND 11,463 billion. Of which, preferential loans to small and medium-sized enterprises reached over VND 1,700 billion; preferential short-term loans to large corporate customers reached over VND 2,230 billion; loans to import-export enterprises reached VND 524 billion.

At the conference, representatives of enterprises requested the province to continue to pay attention to creating favorable conditions for land, removing difficulties and obstacles in compensation and site clearance for projects, especially social housing projects; the banking sector continues to consider and reduce lending interest rates to increase attractiveness and support for enterprises.

Speaking at the Conference, Vice Chairman of Vinh Phuc Provincial People's Committee Nguyen Khac Hieu highly appreciated the efforts of the Banking sector and shared the difficulties of the business community in the area in recent times. At the same time, he requested departments, branches and sectors to proactively review, grasp information, and promptly remove difficulties and obstacles for businesses.

Vice Chairman Nguyen Khac Hieu requested the State Bank of Vietnam, Vinh Phuc branch, to strengthen direction and supervision of credit institutions to effectively implement credit programs to support businesses; maximize capital resources into production, business, priority areas and national programs and targets.

In particular, create favorable conditions for people and businesses to access bank loans, not allowing businesses with good business plans to lack capital.

For commercial banks, the leaders of Vinh Phuc Provincial People's Committee requested banks to proactively review and evaluate credit quality and handle bad debts, ensuring objective and substantial data.

At the same time, strengthen the connection between banks and enterprises in many suitable, practical and effective forms to grasp, share information, remove difficulties for customers; and unblock capital for production and business activities.

Continue to promote digital transformation in operations, have new business models and products and services on the basis of information technology, digital banking, and digital payment. Ensure security and safety in payment and digital transformation activities.

Leaders of Vinh Phuc Provincial People's Committee also noted that enterprises need to improve their management and operation capacity, restructure their operations; build effective and feasible production and business plans so that credit institutions have a basis for appraisal and consideration of loans in accordance with their operating situation and production and business needs.

Source: https://baophapluat.vn/vinh-phuc-go-kho-cho-doanh-nghiep-trong-tiep-can-von-tin-dung-post530708.html