(NLDO) – From the city's resources, the Ho Chi Minh City State Financial Investment Company will support 100% of loan interest rates for projects in a number of priority areas.
Conference scene on implementing interest rate support policy
On November 8, Ho Chi Minh City State Financial Investment Company (HFIC) and the Ho Chi Minh City Department of Industry and Trade jointly organized a conference to deploy interest rate support policies for investment projects in four key industries, supporting industries and logistics in the city.
The conference focused on disseminating interest rate policies, creating conditions for businesses to access and guiding loan applications from financial resources of Ho Chi Minh City.
Mr. Nguyen Quang Thanh, Deputy General Director of HFIC, said that the loan program for projects in four key industries, supporting industries and logistics will last for 5 years, targeting 100% domestic enterprises implementing projects in Ho Chi Minh City and public units.
Accordingly, HFIC will lend at 0% interest rate for the amount of 200 billion VND, with a loan term of 7 years for businesses to invest in new machinery and equipment, factories... in the fields of high technology, trade, agricultural production, healthcare, education, environment, automatic mechanization, food processing, textiles, footwear...
The logistics sector alone is supported with a 50% interest rate, meaning the borrower only pays interest on half of the loan amount according to the formula: the average 12-month savings interest rate of 4 major banks (Vietcombank, Agribank, BIDV, VietinBank) plus 2%-2.2%.
The disbursement condition is that the enterprise must have a feasible project appraised by HFIC, have collateral, and ensure debt repayment ability...
However, many businesses say the immediate barrier is that they no longer have collateral and may not be able to access loans.
Addressing this issue, Mr. Thanh said that HFIC is willing to accept mortgages on future assets. However, this asset will be valued at about 50% of the value that the business has purchased, from which the loan amount will be decided.
"Businesses with project investment ideas can contact HFIC for advice on the feasibility of the project, to have the opportunity to access 0% interest rates.
Enterprises that are not eligible for interest rate support for investment projects in the four key industries, supporting industries and logistics but are in the industry group that HFIC is targeting will be able to borrow long-term capital with the current interest rate of 6.7%/year," Mr. Thanh added.
Source: https://nld.com.vn/duoc-vay-dai-han-voi-lai-suat-0-nhung-doanh-nghiep-van-keu-kho-vi-sao-196241108120235637.htm
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