Mr. Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam - Ho Chi Minh City Branch, on August 31, said that credit in the first eight months of 2022 in the city exceeded VND3.1 quadrillion, an estimated increase of 11 percent compared to the beginning of the year.
More than 100 customers, including small and medium-sized enterprises, business households, and small traders in District 1 were lent more than VND4.9 trillion by three commercial banks in Ho Chi Minh City with preferential interest rates to help reduce business costs for more efficient production and business activities.
The monitoring delegation of the Standing Committee of the Ho Chi Minh City People’s Council led by Deputy Chairman of the Municipal People’s Council Nguyen Van Dung yesterday had a working session with the HCMC People’s Committee on the implementation of the sustainable poverty reduction program of HCMC from 2021 through 2025.
Deputy Prime Minister Pham Binh Minh on April 8 signed the Prime Minister’s dispatch requesting the acceleration of disbursement of foreign official development assistance (ODA) and preferential loans.
To support enterprises to recover production and business activities, especially at the end of the year and the upcoming Lunar New Year, many banks have increased the rate of loans without collateral or with collateral that are assets to be formed in the future.
The State Bank of Vietnam-Ho Chi Minh City Branch informed that by the end of November this year, city-based credit institutions have disbursed nearly VND447.4 trillion of loans for 27,277 enterprises and households under the Bank-Business Connection Program, an increase of 120 percent compared to the credit package that 11 credit institutions registered in the program at the beginning of this year.
The State Bank of Vietnam (SBV) has proposed that commercial banks not be allowed to provide preferential loans to low-income people seeking to purchase, lease and lease-purchase social houses.
Households below the national poverty line in Ho Chi Minh City who register to work abroad are eligible for preferential loans, said Deputy Director of the municipal Department of Labor, Invalid and Social Affairs Tran Ngoc Son.
The People’s Committee of Hanoi has proposed the municipal People’s Council add the urban railway project No 3 to the list of projects funded by official development assistance (ODA) and preferential loans from foreign donors.
The Social Policy Bank which is set up for helping the disadvantaged has provided finance support worth nearly VND2,830 billion ($124.5 million) to the poor so far, reported the bank yesterday.
Some 35.7 percent of the cooperatives in the South Central Coastal and the Highlands region contributed greatly to the local economic growth, said participants at a meeting on July 7 in Da Lat Town held by the Ministry of Agriculture and Rural Development to review the implementation of Cooperative Law from 2012.