Focusing credit on the production and business sectors with strengths in the Mekong Delta

Conference "Promoting bank credit to contribute to economic growth in Region 14" - Photo: VGP/LS

Attending the Conference were Secretary of the Can Tho City Party Committee Do Thanh Binh, Permanent Deputy Secretary of the Hau Giang Provincial Party Committee Nguyen Tuan Anh, Chairman of the Can Tho City People's Committee Truong Canh Tuyen, Chairman of the Hau Giang Provincial People's Committee Tran Van Huyen; leaders of 5 provinces in Region 14.

Efforts to implement solutions to remove difficulties and increase credit for production and business

Speaking at the conference, Governor of the State Bank of Vietnam Nguyen Thi Hong said that recently, the entire banking sector has made efforts to implement solutions to remove difficulties and increase credit for production and business.

At the same time, monetary policy tools have been operated to stabilize the monetary market, stabilize the macro economy, and control inflation. Since 2020, the operating interest rates have been continuously adjusted down, creating conditions for credit institutions to reduce lending interest rates to customers, especially reducing lending interest rates for priority sectors.

In addition, immediately implement measures to support customers with difficult loans: Restructure debt repayment terms, waive and reduce interest and fees without transferring debt groups, provide new loans for people and businesses to recover, stabilize production, support economic growth after the pandemic and floods. Promote digital transformation, reform administrative procedures, and facilitate customers in accessing credit.

It is estimated that by the end of February 2025, the total outstanding credit balance in Region 14 will reach VND 387,350 billion, an increase of 0.42% compared to the end of 2024 (lower than the national growth rate of 0.8%), accounting for 31.73% of the total outstanding debt of the Mekong Delta region, accounting for about 2.46% of the total outstanding debt of the economy.

Regarding policy credit, by January 31, 2025, the total outstanding balance of policy credit programs at the VBSP in Region 14 will reach VND 22,373 billion with 704,825 customers with outstanding loans, an increase of 1.03% compared to 2024, accounting for 5.78% of the total outstanding credit balance of Region 14, accounting for 34.2% of outstanding policy credit balance of the Mekong Delta region and accounting for 6.02% of outstanding policy credit balance nationwide.

Governor of the State Bank of Vietnam Nguyen Thi Hong speaks at the Conference - Photo: VGP/LS

Promoting credit packages for agricultural development

Governor of the State Bank of Vietnam Nguyen Thi Hong emphasized that in order to promote credit growth in the region, in the coming time, the State Bank of Vietnam will continue to synchronously implement solutions on monetary and credit policy management, focusing on directing credit institutions in the area to closely follow the policies, resolutions, and socio-economic development programs of the locality, deploy solutions to stabilize mobilization interest rates and reduce costs, increase the application of information technology to lower lending interest rates; promote credit growth from the beginning of the year, direct credit to production and business sectors, priority sectors, and growth drivers; strictly control credit for sectors with potential risks; develop credit products for sectors and fields in line with the business strategy and resource balancing ability of credit institutions.

At the same time, increase credit investment in feasible key projects and works to serve the socio-economic development of the region and the local strengths in sectors and fields according to the orientation in Resolution 13-NQ/TW of the Politburo, Resolution No. 78/NQ-CP of the Government, focusing on promptly meeting the loan capital needs of people, enterprises producing, processing, purchasing, storing, and consuming a number of key export products, ensuring regional and national food security such as rice.

The State Bank of Vietnam continues to promote the implementation of credit programs and policies under the direction of the Government and the Prime Minister, especially specific programs for the Mekong Delta region such as the Loan Program for Linking Production, Processing and Consumption of High-Quality and Low-Emission Rice Products in the Mekong Delta Region under Decision 1490/QD-TTg of the Prime Minister. Develop a variety of bank credit products suitable for each type and production and business needs of people and enterprises; strengthen administrative reform, creating favorable conditions for people and enterprises to access bank credit capital.

In particular, the banking sector has implemented many credit packages such as the VND100 trillion loan package for the forestry sector and the expansion of the program scope for the agriculture, forestry and fishery sector; the credit package for the Project of 1 million hectares of high-quality, low-emission rice and many other credit packages...

At the same time, drastically implement solutions to improve credit quality, prevent and minimize bad debt; proactively deploy and strengthen bank-enterprise connection activities in appropriate forms; promote policy communication to help businesses and people grasp and access banking products and services conveniently.

Bank accompanies and shares with businesses

At the Conference, delegates focused on exchanging and discussing a number of main contents such as: Results of general credit activities nationwide and credit in region 14 in the first months of 2025, including credit for priority areas, a number of credit programs; lending interest rate policy; the ability to effectively expand credit in 2025 to contribute to promoting sustainable economic growth; difficulties and obstacles; orientations on credit activities in the coming time...

Mr. Nguyen Van Nhut, General Director of Hoang Minh Nhat Company - Photo: VGP/LS

Mr. Nguyen Van Nhut, General Director of Hoang Minh Nhat Company (Can Tho City) expressed his excitement that the State Bank of Vietnam has had positive and appropriate policies to maximize the effectiveness of credit policies.

Mr. Nhut suggested that banks consider the possibility of increasing unsecured loans with low collateral and suitable interest rates applied during the peak rice harvest period and based on the results of the assessment of capacity and business process of each enterprise to have flexible mechanisms and policies to support enterprises to actively use loan capital, without being controlled by credit room.

Ms. Ma Thi Thanh, Vice President of the Soc Trang Province Business Association, said that after the COVID-19 pandemic, many businesses were struggling, but thanks to preferential loan packages and low interest rates, they overcame difficulties, stabilized and developed production and business. Ms. Thanh suggested that banks study and adjust loan interest rates more appropriately.

Le Son

Source: https://baochinhphu.vn/tap-trung-tin-dung-vao-cac-linh-vuc-san-xuat-kinh-doanh-co-the-manh-cua-dbscl-102250325150032211.htm