Support policies and credit packages for businesses

Many preferential policies

The State Bank of Vietnam has issued Circular 2/2023/TT-NHNN, effective from April 24, 2023, to support customers to overcome financial difficulties.

This policy allows credit institutions to restructure debt repayment terms and maintain the debt group for loans facing difficulties due to objective reasons.

The Circular applies to debts arising before April 24, 2023, meeting the following conditions: customers cannot repay debts on time due to objective reasons; are assessed to have the ability to repay debts in full after restructuring. The restructuring period shall not exceed 12 months, applicable from April 24, 2023.

This policy helps reduce financial pressure and maintain customers' access to loans, especially businesses affected by the Covid-19 pandemic and economic fluctuations.

At the same time, it contributes to stabilizing the banking system, avoiding the increase in bad debt, and supporting economic recovery after the crisis.

The State Bank of Vietnam has issued Circular 2/2023/TT-NHNN, effective from April 24, 2023, to support customers to overcome financial difficulties.

Decree 55/2015/ND-CP of the Government, issued on June 9, 2015, stipulates credit policies for agricultural and rural development to promote production, business and improve the lives of people in rural areas.

According to the decree, credit institutions are encouraged to provide preferential loans to households, cooperatives, and small and medium-sized enterprises operating in the agricultural and rural sectors.

Loans do not require collateral with a maximum limit of VND 50 million for individuals and households in rural areas to VND 500 million for enterprises with large production models.

Lending interest rates are adjusted appropriately, ensuring support for borrowers while maintaining the sustainability of credit institutions.

In addition, the decree also facilitates access to capital for high-tech application projects, value chain-linked production models and clean agricultural development.

This policy contributes to promoting agricultural restructuring, sustainable poverty reduction and new rural construction, aiming at sustainable socio-economic development in rural areas.

Decree 55/2015/ND-CP of the Government, issued on June 9, 2015, stipulates credit policies for agricultural and rural development, contributing to promoting production and business.

On March 11, 2023, the Government issued Resolution 33/NQ-CP, introducing a VND 120,000 billion credit package to support the real estate sector, especially focusing on developing social housing, worker housing and renovating old apartments.

Accordingly, banks such as BIDV, VietinBank, Agribank and Vietcombank... will implement this credit package with preferential interest rates, 1.5 - 2% lower than normal lending rates.

The main goal is to address the shortage of capital for social housing projects, while creating momentum to restore the struggling real estate market.

Dak Nong enterprises need access to credit capital for development

The credit package also requires real estate businesses to ensure project feasibility and meet legal and progress criteria. For people, especially low-income workers, this is an opportunity to access housing at a reasonable cost.

This resolution is considered to not only solve immediate difficulties but also aim at sustainable development of the real estate industry and support long-term social security.

To promote forestry and fishery production, the Government has directed the State Bank to implement large credit packages with preferential interest rates.

Accordingly, many credit institutions such as Agribank, BIDV, Vietcombank... committed to spending tens of thousands of billions of VND each year to support these two areas.

On March 11, 2023, the Government issued Resolution 33/NQ-CP, introducing a credit package of 120,000 billion VND to support the real estate sector (Photo: LP)

For the fisheries sector, the credit policy under Decree 67/2014/ND-CP (amended by Decree 17/2018/ND-CP) supports loans for building fishing boats and fishing logistics service boats with preferential interest rates of only 1-3%/year. The State budget supports the interest rate difference of 4-6%/year compared to normal commercial interest rates.

For the forestry sector, loans for afforestation, wood processing, and export forestry production have preferential interest rates of 5-7%/year. Some banks offer green credit packages with interest rates 1-2% lower to encourage sustainable development.

Decree 55/2015/ND-CP of the Government, issued on June 9, 2015, stipulates credit policies for agricultural and rural development to promote production and business.

Loan terms are flexibly adjusted: short-term for production cycles and long-term up to 15-20 years for afforestation projects or large-scale processing facility investments. These policies help reduce financial burdens, improve competitiveness and expand export markets for forestry and aquatic products.

Many large-scale credit packages

Major banks such as Agribank, BIDV, Vietcombank, VietinBank, HDBank... are implementing many credit packages for businesses. Most of the credit packages have interest rates and terms suitable for small and medium enterprises.

Dak Nong enterprises can access preferential credit packages of up to 60,000 billion VND with low interest rates from Agribank

Agribank is implementing a preferential credit package of up to VND60,000 billion with interest rates 2% lower than the floor rate, applicable to short-term, medium- and long-term loans.

In particular, 15,000 billion VND is allocated by Agribank to finance projects in key areas such as processing, manufacturing and green energy, with a fixed interest rate of 6%/year.

BIDV has launched a preferential credit package of VND70,000 billion for production and business, with an interest rate of 7%/year. Of which, VND20,000 billion is prioritized for green sectors, VND50,000 billion for other business sectors.

Customers transact at BIDV Dak Nong Branch

Vietcombank has launched a preferential credit package worth VND100 trillion, aiming to support small and medium-sized enterprises (SMEs) and large enterprises in the context of many economic challenges.

This loan package applies competitive interest rates, 0.5 - 1.5% lower than normal interest rates. Priority sectors include industrial production, export, high-tech agriculture and renewable energy.

Many Dak Nong enterprises have borrowed preferential capital from BIDV to serve production and business.

VietinBank is implementing a preferential credit package worth VND100,000 billion to support enterprises to restore production and develop business in the context of many economic challenges. This credit package applies a competitive interest rate from 7.1%/year, significantly lower than the market.

The loan package is flexibly designed with many terms, suitable for both short-term and long-term capital needs. The main beneficiaries are small and medium-sized enterprises, enterprises in the fields of export, industrial production, high-tech agriculture and renewable energy. Loan procedures are simplified, creating conditions for quick access.

Dak Nong's small and medium enterprises can learn about and access suitable credit packages from many different banks.

HDBank has launched a credit package to support production and sustainable development, with priority given to small and medium-sized enterprises (SMEs) operating in the green sector.

This loan package targets projects on environmental protection, renewable energy, sustainable agriculture and clean production, with interest rates 1-2% lower than the market. The loan term can be extended to 10-15 years, helping businesses stabilize their finances and focus on long-term investments.

Vietcombank Dak Nong has many credit packages for businesses.

The above information is a summary of typical credit programs of banks, which may change according to the time or specific needs of each customer. If you need more details, you can contact the bank directly or access the resources on the official website of each organization.

Other banks currently in Dak Nong such as Nam A, Ban Viet, MBBank, VPBank, OCBBank... are also implementing good credit packages, suitable for small and medium enterprises.

Source: https://baodaknong.vn/chinh-sach-ho-tro-va-cac-goi-tin-dung-danh-cho-doanh-nghiep-234951.html