On October 23 in Ho Chi Minh City, the State Bank of Vietnam (SBV) and the Ho Chi Minh City People's Committee jointly organized a conference titled "The banking sector joins efforts to unlock financial and banking resources for growth in the Southeast region."
Attending the conference were Chairman Nguyen Van Duoc of the Ho Chi Minh City People's Committee, Governor Pham Duc An of the State Bank of Vietnam; and Vice Chairman Truong Minh Huy Vu of the Ho Chi Minh City People's Committee.
Southeast region needs VND757 trillion in loan capital
Speaking at the conference, SBV Governor Pham Duc An emphasized that the Southeast region is the country's largest growth engine and a center for high-tech manufacturing, digital technology industries, and international logistics. Amid substantial demand for growth capital, unlocking and diversifying financial resources is increasingly important.
In 2026, the region contributed 31.4 percent of the nation's overall economic growth. Localities in the region were assigned full-year GRDP growth targets ranging from 10 percent to 10.04 percent. As a hub for industrial, commercial, service, and import-export activities, the Southeast region requires significant capital to achieve development goals during the 2026-2030 period. This creates a need to mobilize additional financial resources while improving investment efficiency and businesses' capacity to absorb capital.
According to Governor Pham Duc An, the SBV has implemented synchronized monetary and credit measures. The central bank has directed credit institutions to ensure credit growth aligns with targets, review and simplify lending procedures, and accelerate digital technology applications to make it easier for customers to access financing. Banks have also been instructed to maintain stable deposit interest rates, helping stabilize the monetary market while striving to lower lending rates.
Nguyen Xuan Bac, Deputy Director of the SBV Credit Department, said total deposits at credit institutions reached VND19.5 quadrillion by the end of September 2026, up 10.7 percent from the end of 2025. Outstanding loans across the economy exceeded VND20.7 quadrillion, an increase of 11.7 percent. In the Southeast region alone, outstanding credit was estimated at nearly VND6.8 quadrillion, accounting for almost 35 percent of the national total and rising 10.93 percent from the end of 2025.
Notably, the SBV has applied mechanisms allowing exemptions from or additional allocations of credit growth limits for commercial banks participating in financing 35 large-scale projects nationwide, with total loan demand of about VND1.7 quadrillion. These projects are expected to generate spillover effects, strengthen regional connectivity, support local economic development, and contribute to achieving double-digit growth targets.
Among them, the Southeast region has 15 projects with total loan demand estimated at VND757 trillion. The scale of this financing requirement highlights the need to mobilize long-term financial resources, balance funding sources, control risks, and improve credit allocation efficiency to meet the region's development needs.
Businesses face financing challenges and high borrowing costs
Le Nhu Thach, Vice Chairman of the Ho Chi Minh City Business Association (HUBA) and Chairman of the Board of Bcons Group, pointed out that small and medium-sized enterprises account for about 98 percent of all businesses but receive only about 20 percent of bank credit.
Lending rates commonly range from 10 percent to 12 percent per year, while 93.5 percent of loans require collateral. At the same time, some large projects undertaken by major corporations receive exceptional treatment regarding credit growth limits. According to Thach, this situation raises concerns about access to capital and the balance of resource allocation among different business groups.
The Governor of the State Bank of Vietnam said the SBV has directed credit institutions to reduce operating costs, improve governance efficiency, and accelerate digital transformation to create conditions for lower lending rates, particularly for production, business, and priority sectors.
The SBV will continue closely monitoring developments in money markets, interest rates, exchange rates, and liquidity, while proactively using appropriate policy tools to ensure smooth banking system operations and meet the economy's reasonable capital needs.
Speaking at the conference, Ho Chi Minh City People's Committee Chairman Nguyen Van Duoc urged agencies to review and consolidate business difficulties and obstacles, particularly those related to land, investment, and administrative procedures, and submit them to relevant authorities for resolution.
For projects facing challenges, the city will continue reviews, enhance information disclosure, and coordinate with relevant departments and agencies to remove bottlenecks and accelerate implementation. Lists of key projects will also be published transparently to help businesses access information more easily.
Chairman Nguyen Van Duoc affirmed that Ho Chi Minh City will strengthen dialogue with the business community and work alongside enterprises to address difficulties promptly, improve the investment and business environment, and promote socio-economic development.
