Banks give support, businesses take off

The story of Tien Nong Agricultural Joint Stock Company is a typical example. From a small establishment in 1995 with a starting capital of 200 million VND and 15 employees, Tien Nong has now developed into a large-scale enterprise, owning nearly 900 billion VND in assets, revenue exceeding 1,200 billion VND/year and creating jobs for nearly 500 employees.

That impressive development has been accompanied by many credit institutions such as VietinBank Sam Son, BIDV Thanh Hoa, Agribank Thanh Hoa..., through timely capital supply for businesses to expand production, invest in technology and operate cash flow effectively.

Production area of ​​Plant Nutrition Factory in Bim Son town, Thanh Hoa

Mr. Nguyen Hong Phong - General Director of Tien Nong, also Vice President of Vietnam Young Entrepreneurs Association shared: “Banks not only provide capital, but also are companions in financial consulting, risk management and development orientation. In the context that the private sector is increasingly considered the pillar of the economy, cooperation between banks and businesses becomes more urgent”.

Data from the State Bank shows that credit across the system is recovering positively. By the end of the first quarter of 2025, credit growth reached 3.93%, 2.5 times higher than the 1.42% in the same period last year. The average lending interest rate decreased by 0.4 percentage points compared to the end of 2024, demonstrating the banking sector's efforts to share difficulties with businesses.

At the Conference “Promoting bank credit to contribute to economic growth” organized by the State Bank of Vietnam, Region 8 Branch on April 3, many businesses expressed their hope to continue to have access to capital with reasonable interest rates and suitable terms to expand production. However, the problem of collateral remains a major bottleneck, especially for small and medium enterprises.

Deputy Governor of the State Bank of Vietnam Pham Quang Dung emphasized that the State Bank of Vietnam will continue to operate a flexible monetary policy, stabilize the macroeconomy, control inflation and create favorable conditions for effective credit growth. At the same time, the State Bank of Vietnam directed credit institutions to promote cost reduction, improve service quality, and accelerate digitalization to reduce lending interest rates - a key factor in helping businesses reduce financial pressure.

In the process of increasingly deep integration, Vietnamese enterprises cannot only rely on the domestic market, but need to proactively improve their competitiveness to reach out to regional and global markets. Accompanying that process, the banking industry needs to continue to innovate comprehensively - from products, processes to service thinking - to truly become a "strategic friend" of enterprises.

A modern, flexible, customer-centric financial and credit ecosystem is a solid bridge that helps businesses take off in the era of integration and sustainable development.

The good news is that confidence in the business environment is gradually being strengthened. The strong affirmation from the Party and the State of the driving role of the private economy has become an important boost for the business community. General Secretary To Lam's statement that "the private economy is an important driving force of the socialist-oriented market economy" is not only a call, but also a high political commitment to the development of the private sector.

Source: https://thoibaonganhang.vn/ngan-hang-tiep-suc-doanh-nghiep-cat-canh-162531.html