Pandemic-hit travel firms enjoy loans with preferential interest rates

The HCMC Tourism Department and the State Bank branch in Ho Chi Minh City held a conference on the connection between banks and travel businesses in the city on August 18.
Pandemic-hit travel firms enjoy loans with preferential interest rates ảnh 1 Travel businesses and  banks sign loan contracts with a preferential interest rate.

The event attracted 18 banks and more than 100 tourist companies that discussed about policies for supporting businesses affected by Covid-19. It was a chance for banks to join hands with the municipal government to implement recovery solutions to resume economic, tourism, and service activities under guidance on "Safe adaptation, flexibility, and effective control of the Covid-19 pandemic”.

Deputy Director of the HCMC Department of Tourism Bui Thi Ngoc Hieu said that after five months of the reopening of tourism in the new normal state, the country’s tourism has gained important achievements. However, the sector is still facing difficulties in approaching loan capital, especially travel firms.

The Tourism Department of HCMC has proposed commercial banks consider flexible and diversified loaning mechanisms, unsecured loans based on tourism businesses’ efficient operations; cooperation for payment connectivity, tourism trade, and carrying out promotional programs for the post-pandemic tourism and economic recovery in HCMC.

Deputy Director of the State Bank of Vietnam (SBV) Ho Chi Minh City branch Nguyen Duc Lenh suggested businesses to continue to report their problems in approaching loan capital to the municipal Department of Tourism. The department will summarize opinions and submit them to the banking sector. Enterprises that do not qualify for business loans from banks must be absolutely clear about accounts and have a clear purpose for the loan.

On this occasion, ten travel businesses and ten banks signed loan contracts worth a total of VND634.6 billion (US$27 million) with a preferential interest rate of 6-7 percent a year under a government support package.