In the context of the business community boosting production and business at the end of the year; credit institutions in Ha Tinh are providing capital and accompanying businesses in development.
2023 is a successful year for Tran Chau Construction Investment Company Limited when orders and revenue both increased. Up to this point, the company has achieved revenue of 143 billion VND, an increase of 13 billion VND compared to the plan.
From now until the end of the year, the enterprise strives to achieve revenue of over 150 billion VND and focus on production and serving orders signed for supply in early 2024.
Tran Chau Construction Investment Company Limited specializes in producing unburnt bricks, commercial concrete, sewer pipes...
Ms. Tran Thi Thanh - Chief Accountant of Tran Chau Construction Investment Company Limited said: “The North - South Expressway project in the area has created a strong growth in revenue for the unit. Currently, the business's orders are very large, meaning that a large amount of investment capital is needed. Businesses are being facilitated by BIDV Ha Tinh and Vietcombank Ha Tinh to receive capital to serve production and business. Not only providing capital, "banks" also continuously reduce lending interest rates, supporting business development. Specifically, banks have reduced interest rates 3 times (BIDV Ha Tinh Branch in October, November, December 2023 and Vietcombank Ha Tinh Branch in September, October, November 2023) with each reduction from 0.2 - 0.3%/year. From there, it helps businesses access cheap lending interest rates (about 5%/year), creating motivation to expand their scale of operations".
Mr. Tran Dai Dung - Deputy Director of BIDV Ha Tinh informed that in 2023, the branch will promote the implementation of a medium-term credit package for corporate customers. In particular, priority will be given to enterprises in the fields of renewable energy, industrial park construction, factory construction for lease, industrial park real estate business, food production and processing, logistics infrastructure, pharmaceuticals, etc. With this credit package, BIDV applies a loan interest rate 1 - 1.5% lower than the listed interest rate.
Also according to Mr. Tran Dai Dung, due to the impact of the COVID19 pandemic and economic recession, many businesses in the area have to face difficulties at the same time such as: narrowing market, decreasing orders, large inventory..., BIDV Ha Tinh has proactively reduced loan interest rates, restructured debt, extended repayment period and created conditions for customers to disburse new loans as soon as possible.
BIDV Ha Tinh Branch reduced interest rates 3 times in October, November, December 2023.
In the last month of 2023, Hai Dang Construction and Trading Services Co., Ltd. is making efforts to speed up the construction progress of the projects, meeting the requirements of the investor. Therefore, in addition to mobilizing maximum machinery and vehicles, working overtime day and night, the enterprise must proactively source finances to import necessary materials and equipment to serve the construction process of the projects.
Mr. Truong Xuan Binh - Director of Hai Dang Trading, Service and Construction Company Limited shared: "The unit is accelerating the construction of 3 construction investment projects in the area with a total investment of over 40 billion VND. In the "final stage", the enterprise is mobilizing all resources to bring the projects to the finish line according to the signed contracts. Currently, Vietcombank Ha Tinh Branch and MB Ha Tinh Branch provide capital with low interest rates, so the enterprise is always proactive in finance, creating favorable conditions in the construction process of the projects".
According to Mr. Duong Quoc Khanh - Head of Corporate Customer Department, Vietcombank Ha Tinh Branch: In order to clear the flow of capital for businesses, in recent times, Vietcombank has continued to review and reduce administrative procedures, shorten the loan application review process, in order to facilitate credit support for businesses. Vietcombank has proactively implemented many synchronous solutions, including reducing lending interest rates to a low and stable level in the market (current interest rates are only from 4.5%/year). In addition to preferential interest rates for new loans, Vietcombank also reduced interest rates for old loans, contributing to reducing financial costs for businesses. To date, the branch's total outstanding debt has reached over VND 14,000 billion, of which corporate debt has reached over VND 8,000 billion.
In addition to the “Big 4” group of BIDV, Vietcombank, VietinBank and Agribank Bank, at this time, joint stock commercial banks in the area are also proactively taking all solutions to increase credit growth. Pushing capital sources for businesses to invest in production and business helps businesses quickly complete their 2023 plans and prepare for new orders in 2024.
Outstanding corporate debt of Vietcombank Ha Tinh Branch currently reaches over 8,000 billion VND.
In recent times, the State Bank of Vietnam (SBV) Ha Tinh Branch has regularly disseminated and directed local credit institutions to strictly implement the policies and mechanisms of the State, the industry and the Provincial People's Committee related to banking activities. In particular, proactively implementing policies to remove difficulties for economic sectors, especially the business community.
At the same time, the provincial State Bank also directed commercial banks to strengthen policy communication to enterprises; approach, learn, survey, and grasp the difficulties of enterprises in production and business activities and in credit relations with banks. From there, timely have practical solutions to support such as: new loans, credit limit adjustment, loan interest rate reduction adjustment, debt restructuring...
In practice, the banking sector has accompanied many Ha Tinh enterprises to have the ability to access key projects in the area such as: North-South expressway construction project, export investment projects, high-tech agricultural investment projects... As of early December 2023, the total outstanding debt of enterprises of Ha Tinh Banking sector reached about 30,243 billion VND, accounting for about 32.02% of the total outstanding debt in the whole area.
Thu Phuong
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