Providing capital for production, temporary purchase and export of rice

Exported rice products of Vinh Phat Rice Company Limited (An Giang). Photo: Vu Sinh/VNA

In particular, creating favorable conditions for people and enterprises producing and trading rice to access credit capital with preferential interest rates; promoting reform, simplifying procedures, loan applications, and collateral assets, in order to promptly support the seasonality in production, processing, purchasing, temporary storage, and export of rice.

This task is carried out under the direction of the Prime Minister in Official Dispatch 21/CD-TTg dated March 4 on management to ensure balance of rice supply and demand in the face of developments in the world and domestic markets; promptly meet the demand for credit capital for production, processing, temporary purchase and export of rice, especially the purchase of commercial rice in the 2025 Winter-Spring crop in the provinces of the Mekong Delta region.

Accordingly, commercial banks need to proactively balance capital sources, promptly meet the loan needs of people, enterprises producing, processing, purchasing, storing, and consuming (domestic and export) rice in 2025, especially purchasing winter-spring rice in provinces and cities in the Mekong Delta region; create conditions to support farmers in re-cropping.

"There should be no situation where people and businesses have effective production and business plans that fully comply with legal regulations but are unable to access or have slow access to loans due to cumbersome conditions and procedures," said a representative of the State Bank of Vietnam.

Commercial banks should study and consider increasing the loan limit and term in accordance with legal regulations for enterprises with capacity and experience in organizing purchasing, processing, exporting, and having a warehouse system to purchase rice for temporary storage; create conditions for expanding medium and long-term credit to support investment in warehouses, machinery, processing, preservation and temporary storage equipment.

The State Bank also requested commercial banks to strictly implement the direction of the Government, the Prime Minister and the State Bank in continuing to reduce operating costs, increasing the application of information technology and implementing other measures to reduce lending interest rates, and be willing to share part of the profits to support people and businesses in accessing credit capital, promoting production and business, especially in the rice sector in the Mekong Delta region.

In addition, continue to promote the implementation of credit policies to serve agricultural and rural development according to Decree 55/2015/ND-CP dated June 9, 2015, Decree 116/2018/ND-CP dated September 7, 2018 of the Government, focusing on lending to rice chain models from production to purchasing, processing, preserving and consuming products; promote the implementation of the Loan Program for linking production, processing and consumption of high-quality and low-emission rice products in the Mekong Delta region...

“Strengthening the connection between banks and businesses to promptly find solutions to remove difficulties; coordinating with the Vietnam Food Association and the Vietnam Rice Industry Association to inform member businesses about credit policies of the banking sector so that they can know and participate when needed,” said a representative of the State Bank.

According to VNA

Source: https://baoangiang.com.vn/kinh-te/tieu-dung-thi-truong/cung-ung-von-cho-san-xuat-thu-mua-tam-tru-va-xuat-khau-gao-a416471.html