Bank-Business Connectivity Program to lend VND 173,188 billion - Bank-Business Connectivity Program to lend VND 173,188 billion - Website Ho Chi Minh City
On January 8, HCMC People’s Committee and The State Bank of Vietnam (SBV)-HCMC Branch organized the summing up conference of Bank-Business Connectivity Program in 2015 and deploying plans and orientations in 2016.
According to report of SBV-HCMC branch, the Bank-Business Connectivity Program has provided loans to 4,732 customers worth VND 173,188 billion, up 2, 89% compared to assigned target (VND 60.000 billion). After nearly 4 years of implementation, the program has organized 88 signing sessions, offering loans to 9,235 customers worth VND 240,697 billion.
In 2016, the program will focus on providing capital to small and medium-sized enterprises or those in field of supporting industry under socio-economic development programs of HCMC in 2016-2020. Till now 18 units from 17 banks have registered for support packages worth VND 211,500 billion and US$ 15 million. Short term interest rate will not exceed 7%/year and 8%-10% for mid-term loans
Speaking at the conference, Deputy Governor of SBV Nguyen Phuoc Thanh said the Bank-Business Connectivity Program initiated by HCMC is very necessary, helping to remove difficulties for enterprises, facilitating trade and production activities, promoting socio-economic development of HCMC and of the whole country. Mr. Thanh suggested SBV-HCMC branch, in 2016, and other commercial banks continues to take part in the Bank-Business Connectivity Program, to take advantage of support and coordination of departments, agencies and authorities at all levels of HCMC to make the program more efficient.
Deputy Minister of Trade and Industry Tran Tuan Anh highly valued the model of bank-business connectivity in implementation of market stabilization program of HCMC. HCMC has been a leading locality since 2013 in implementing stabilization programs through connecting enterprises in need of capital with credit organizations to approach preferential loans instead of using capital from the State’s budget.
According to Deputy Chairman of HCMC People’s Committee Le Van Khoa, in 2016, the city will continue to focus on supporting enterprises, suggesting functional organs, People’s Committee of Districts, business associations and other professional associations to effectively carry out the Bank-Business Connectivity program, to develop credit and set out orientations of the program associated with socio-economic development targets of HCMC. In parallel, the city need to provide enterprises with full of information timely, accurately and widely related to policies of the State, supporting enterprises to seek partners and expand markets, designing solutions to remove difficulties for enterprises, to promote production activities and to contribute to the economic development of HCMC and to ensure social security.