Hanoi (VNA) - Commercial banks in Hanoi h🀅ave committed to set aside 150 trillion VND (6.7 billion USD) for a credit support package.
The purpose is to help enterprises increase production to meet rising demand and stabilise the market with the Lunar New Year approaching.
The information was released by Hoang Viet Trung, deputy director of the State Bank of Vietnam's (SBV) Hanoi branch, during a recent conference to strengthen the link between banks and businesses co-organised by SBV and the Hanoi People's Committee.
The funds would be disbursed from now until the mid of 2017, with preferential interest rates offered at 1.5-2 percentage points lower than the common rates, Trung said.
Vice Chairman of the Committee Nguyen Doan Toan said the package would be used to help more than 200,000 local enterprises tackle difficulties while seeking loans for business and production.
It would also encourage them to participate in the market stabilisation programme and store goods to serve people's demand during floods, holidays and festivals.
Quach Hung Hiep, a representative of the Bank for Investment and Development of Vietnam, said after two years of participating in the bank-business linking programme, the bank had lent 130 trillion VND to enterprises, contributing to their development. However, he suggested that the city's People Committee clearly define production sectors that needed support and which would be prioritised to increase the efficiency of the programme.
Also at the conference, 10 commercial banks and 11 enterprises signed cooperation and credit agreements with loans committed reaching 3 trillion VND (134.5 million USD).
Le Hong Thang, Director of the city's Department of Industry and Trade, said the department was planning to organise a promotion day for credit institutions in the city in November 2017 under the framework of the year's promotion campaign.
According to the branch's report, outstanding loans offered in line with bank-business linking programmes in the city have been increasing over the past two years.
Since 🎉the beginning of this year, 120 commercial banks and branches signed credit support contracts with local firms worth 170 trillion VND, of which 70 percent was disbursed.-VNA
The State Bank of Vietnam (SBV) on August 29 directed agencies to enhance security measures against risks and payment fraud, following the execution of several scams recently.
Many commercial banks have recently raised their deposit interest rates in an attempt to satisfy new State Bank of Vietnam’s regulations that are due to take effect in 2017.
Some big credit organisations, including State-owned commercial banks, lowered their interest rates for short-term deposits as from September 26, according to the State Bank of Vietnam (SBV).
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Illustrative image (Source: VNA)
