On the morning of March 14, Prime Minister Pham Minh Chinh and Deputy Prime Minister Le Minh Khai chaired a conference to deploy monetary policy management tasks in 2024, focusing on removing difficulties for production and business, promoting growth and stabilizing the macro economy.
Policies need to be consistent from central to local levels.
Speaking at the conference, Mr. Dang Minh Truong - Chairman of the Board of Directors of Sun Group Corporation said that in recent times, the Government's policies to support businesses have been very close and specific.
"For us, as a business operating in the fields of entertainment, recreation, resort tourism and resort real estate, these policies have brought certain results," Mr. Truong shared and gave a specific example of the Ba Den Mountain Tourist Area in Tay Ninh, where Sun Group will reach 5 million visitors in 2023.
In 2024, Sun Group expects to welcome 7 million visitors and up to now, the company has reached 2 million visitors using the cable car thanks to new visa regulations and other open policies.
Regarding the task of managing monetary policy in 2024, as a business operating in the resort real estate sector, a representative of Sun Group shared that he felt specific and positive impacts.
Firstly, in addition to policy solutions, the Government and the State Bank have synchronously implemented monetary policies to support the economy, especially maintaining low interest rates and reducing lending rates.
Second, the State Bank has proactively assigned credit limits from the beginning of the year, helping commercial banks and cooperative enterprises have plans from the beginning of the year to serve customers.
Third, Circular 22/2023, effective from July 1, 2023, adjusts the risk coefficient of some loans, helping commercial banks have more room to support policies on social housing and industrial real estate projects as well as the group's production and business activities.
Sun Group Chairman expressed his view that real estate businesses want to access low-cost credit capital.
Regarding exchange rates, a representative of Sun Group also shared that in recent days, the State Bank has conducted a 28-day treasury bill auction, regulating the short-term surplus in the market and cooling the exchange rate, which has had a very positive impact on Sun Group's business activities.
In addition, the Government and Prime Minister's Working Groups have also gone to localities to promptly resolve many specific real estate projects.
“Sun Group believes that the Government's close and consistent guidance will continue to help the economy recover sustainably and stably,” Mr. Truong emphasized.
However, to accelerate growth and stabilize the macro economy, the Chairman of Sun Group also proposed that the Government and the State Bank continue to have policies to maintain macroeconomic stability, most importantly stabilizing deposit interest rates and lending interest rates.
Next, it is necessary to promote public investment, especially infrastructure projects, creating conditions for large and reputable enterprises to participate in key national projects.
Regarding current and future policies supporting businesses in the economy, businesses request that the Government provide synchronous guidance and explanation from the central to local levels, businesses, and banks so that these policies can be implemented as quickly as possible.
And finally, the Sun Group representative expressed the hope that real estate businesses would be able to access credit sources with lower costs.
“Currently, the difference between loans from joint stock commercial banks and state-owned commercial banks is quite large (from 4-5%), businesses want to narrow this gap and if possible, the borrowing costs will be further reduced to create conditions for businesses to recover,” said the Chairman of Sun Group.
Proposing banks to have new credit packages
Also sharing at the conference on credit policy, Mr. Quang Van Viet Cuong - Deputy Director of the Industrial Development and Investment Corporation (Becamex) shared that although 2023 is a difficult year, Becamex Group has had spectacular developments and is ready for 2024.
Over the past time, Becamex Group and ecosystem have always received cooperation from large, medium and small banking organizations at home and abroad.
Becamex believes that accessing credit is not difficult for Becamex. However, one difficulty that many real estate businesses are facing and that Becamex is also facing is the issue of bond issuance.
Becamex emphasized that infrastructure development enterprises require a large amount of capital. However, in recent years, enterprises operating in this field often have issuance plans, usage plans, and debt repayment plans that are often prolonged, affecting debt repayment plans, leading to credit borrowing impacts.
“When Becamex implemented projects across the country, it was clear that the project implementation was slower than before. Previously, we had the Prime Minister's policy, we always had a plan and time, we calculated the effectiveness of the project, but later on, the legal procedures often took a long time, so cash flow and debt repayment plans encountered difficulties,” said a company representative.
Becamex always receives cooperation from large, medium and small banking organizations at home and abroad.
In 2024, Becamex aims to develop social housing for workers and residents in Binh Duong. Becamex plans to both build and expand 10,000-20,000 apartments this year. For all projects in other localities, Becamex also offers this model to develop social housing.
Becamex expressed its hope that banks will have new policies and new credit packages to implement for businesses to grasp, to have a basis for building and creating conditions to connect the best credit sources, ensuring the development of this new field because currently renewable energy development does not have special incentives, different from current regulations.
Becamex also hopes that the Government will pay attention to increasing the charter capital of enterprises as well as Becamex in the near future, so that Becamex will have new resources to meet development requirements in the new period .
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