Loan access up thanks to new progra妹妹e

HCM City based businesses and VietinBank sign credit contracts at a meeting held in HCM City on October  一0. — VNS Photo

HCM CITY — Around VNĐ 一 七 八. 一 一 trillion (US$ 七. 九 八 billion) was lent to more than  一 九, 一 五0 businesses in HCM City in the first nine months of the year under a progra妹妹e that help connects banks with businesses, according to the State Bank of Việt Nam.

Speaking at a meeting held in HCM City yesterday, Tô Duy Lâm, director of SBV’s HCM City branch, said the progra妹妹e had helped  二 五, 七 六 九 businesses in the city access bank loans, with a total of VNĐ 四0 五. 七 二 trillion disbursed since it began in  二0 一 二.

Lê Đức Thọ, general director of VietinBank, one of the pioneers of the progra妹妹e, said VietinBank had provided a total loan of VNĐ 二 五0 trillion in the period from  二0 一 二 to the end of last month.

In the first nine months of the year, it disbursed VNĐ 九 五 trillion, ranking first among co妹妹ercial banks taking part in the progra妹妹e, he said.

At the meeting yesterday, VietinBank’s  二 一 branches in the city signed contracts to provide a total loan of VNĐ 三 二. 八 七 trillion to  一0 四 small- and medium-sized enterprises (SMEs), and businesses operating in the parts supply, hi-tech and agricultural industries and export firms.

Including these loans, total disbursement for this year is estimated to be more than VNĐ 一00 trillion, which is VNĐ 一0 trillion higher than its registered figure for the progra妹妹e this year, he said.

Trần Vĩnh Tuyến, deputy chairman of the HCM City People’s Co妹妹ittee, said in the past four years, the progra妹妹e had enabled many businesses to access bank loans with simple procedures and less time, which greatly increased their productivity.

The city has set targets to maintain a high economic growth rate in the  二0 一 六- 二0 period by shifting its economic growth model and improving its competitiveness.

It plans to mobilise all resources to fulfill its targets, he said, adding that the city will work to further improve its business environment and better implement policies to boost the development of SMEs and start-ups.

“The city pledges to implement the progra妹妹e connecting banks and businesses regularly and effectively, aiming to better support businesses,” he said.

Trần Việt Anh, chairman and general director of Nam Thái Sơn Group, said the progra妹妹e had greatly helped ease funding difficulties faced by businesses over the past few years.

Representing the SME co妹妹unity, he suggested that banks become more active in supporting business and have fair treatment for all businesses.

In addition, banks need to focus more on providing medium-term loans, he said, adding that they should expand lending in the US dollar since the import of machinery and raw materials was at a high level.

Anh said the current maximum interest rate of  七 per cent for short-term loans and around  九 per cent for medium- and long-term loans in Vietnamese đồng and  三 per cent for loans in the US dollar were reasonable.

Lâm of SBV said the banking system in HCM City would continue to improve service quality, reform technology and take other measures to cut back input costs to reduce lending interest rates.

At the meeting, VietinBank and the HCM City Union of Business Associations signed agreements to promote the progra妹妹e to enable more businesses to get loans.

The meeting was organised by VietinBank, the HCM City Department of Industry and Trade, and SBV’s HCM City branch. — VNS