Dozens of banks in Ho Chi Minh City have registered to provide loan packages worth 211.5 trillion VND (9.3 billion USD) and 15 million USD to support businesses in 2016.
HCM City (VNA) – Dozens of banksꦿ in Ho Chi Minh City have registered to provide loan packages worth 211.5 trillion VND (9.3 billion USD) and 15 million U💧SD to support businesses in 2016.
They also pledged a short-term VND interest rate of 7 percent per annum, and a long-term rate ranging from 8-10 percent per annum, the municipal Department of Industry and Trade reported at a conference in the city on January 8.
Vice Chairman of the municipal People’s Committee Le Van Khoa said the city is striving to raise the banking loan support to 300 trillion VND (13.2 billion USD) in 2016, a five fold increase against the previous year.
The local departments and sectors will work to more effectively implement the programme connecting banks and businesses in 2016-2020, furthering assistance for small and medium-sized enterprises in production and support industries, he said.
Deputy Director of the State Bank of Vietnam’s branch in HCM City, Nguyen Hoang Minh, cited that banks had registered over 173.2 trillion VND (7.6 billion USD) under the programme to support businesses in 2015 - 2.89 times above the yearly target.
Deputy Governor of the SBV, Nguyen Phuoc Thanh, said the programme has helped forge links between banks and businesses, citing commercial banks have pledged thousands of billions of VND in loans – in partucular soft loans.
He suggested the SBV-HCM City branch, along with commercial banks, should actively get involved in the programme - to help businesses extricate difficulties and reduce the burden on local budgets.
He recommended lowering interest rates for old loans, while increasing credit limits and restructuring debts.-VNA
The enhancement of competitiveness through creative innovation is vital for Vietnamese businesses, according to Deputy Minister of Science and Technology Tran Viet Thanh.
Commercial banks need to change their perception of small and medium-sized businesses to boost lending for businesses, said head of the Central Institute for Economic Management (CIEM) Vo Tri Thanh.
Small and medium-sized enterprises (SMEs) in the supporting industry need better support policies to enhance competitiveness and participate in the global value chain, experts stated.
Ho Chi Minh City plans to disburse another credit package worth 127,333 billion VND (583.6 million USD) this year to provide preferential loans for local enterprises.
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: bizlive.vn)
