On February 26, 2024, Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong, head of the working delegation including representatives of a number of ministries and branches of the Government, visited Vinh Long province to promptly grasp and handle difficulties and problems in disbursing public investment capital, infrastructure construction, import and export, and implementing three national target programs...
Governor of the State Bank Nguyen Thi Hong - Head of the working delegation spoke at the working session
According to a report from Vinh Long province, the agricultural sector continues to be a solid "support" for the provincial economy when the value of agriculture, forestry and fishery in 2023 increased by 3.08%, the number of new rural communes has increased to 75, exceeding the target two years ahead of schedule... However, the gross regional domestic product (GRDP) of Vinh Long is still low, reaching only 2.1% in 2023, not reaching the set target in the context of many difficulties in the world and domestic economy. Enterprises lack orders, have to cut labor, production costs increase, causing profits to decrease, even losses, have to narrow production or withdraw from the market, leading to a decrease in demand for loans. In 2024, the economy is forecasted to face many difficulties, so under the direction of the Government, ministries and branches continue to have solutions to overcome them.
The Prime Minister has approved the Project on Sustainable Development of 1 million hectares of high-quality and low-emission rice cultivation associated with green growth in the Mekong Delta by 2030, according to Decision No. 1490/QD-TTg dated November 27, 2023. The Project demonstrates the long-term vision of the Party and State as food security continues to be an important issue in the coming years.
Mr. Pham Toan Vuong - General Director of Agribank spoke at the meeting
Speaking at the meeting, Mr. Pham Toan Vuong - General Director of Agribank said that Agribank will continue to promote credit capital in the agricultural and rural areas in Vinh Long province. In the coming time, Agribank will continue to coordinate with the Farmers' Association, the Women's Union and the Commune People's Committee to promote lending through loan groups; develop chain lending, while prioritizing credit capital and having preferential policies for people and businesses participating in the 1 million hectare project of high-quality rice cultivation.
In Vinh Long province, with a network of 8 type II branches and 21 transaction offices located in the area, Agribank Vinh Long Branch has the advantage of lending to all subjects in the fields of agriculture and aquaculture, consumer life needs, production and business, meeting capital needs for people and businesses quickly, promptly and preferentially.
As of January 31, 2024, the outstanding loans for the agricultural and rural sector under Decree 55 of Agribank Vinh Long branch were VND 8,701 billion, accounting for 78% of the branch's outstanding loans. In the coming time, Agribank will continue to support people and businesses to promote production, business and import-export activities, effectively implement national target programs... in Vinh Long province to successfully achieve the socio-economic development goals of the province in particular and the country in general in 2024.
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