Outstanding loans for forestry and fishery products in Ho Chi Minh City account for nearly 80% of the VND15,000 billion credit package.

SGGPO 11/24/2023 13:07

With short-term VND loan interest rates from 4%-6%/year and foreign currency loans from 3.5%-5.5%/year, it has helped people and businesses in the forestry and fishery sectors in Ho Chi Minh City access cheap capital.

474 billion VND has been disbursed to people and businesses in the forestry and fishery sector in Ho Chi Minh City.

Mr. Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam, Ho Chi Minh City branch, said that up to now, with the 15,000 billion VND credit package of the banking sector implementing the Government's direction to support, remove difficulties, promote production and export for the forestry and fishery sectors, commercial banks in Ho Chi Minh City have disbursed 474 billion VND to 196 borrowers.

Currently, outstanding loans for this sector in Ho Chi Minh City have reached VND355 billion, accounting for 78.1% of total outstanding loans for forestry and fishery products from this credit package. Of which, outstanding loans for exploitation and aquaculture account for the highest proportion, nearly 70% of total outstanding loans for the fishery sector in the area.

According to the Deputy Director of the State Bank of Vietnam, Ho Chi Minh City branch, with the interest rate being 1%-2% lower per year than the average lending rate of banks, it has created conditions for businesses, business households and individuals in Ho Chi Minh City to reduce borrowing costs, provide financial support and reduce production and business costs, thereby helping them maintain and stabilize production, overcome difficulties and develop.

In particular, low lending interest rates have also encouraged businesses to expand their exploitation and aquaculture activities, providing raw materials for seafood processing and export - a field with national advantages and a driving force for growth, especially at the end of the year when consumption demand increases.

Source