(HBO) – The State Bank of Vietnam’s branch in Hoa Binh has mapped out orientations to direct banks and credit organisations in the northern province to implement key tasks in the field, thus realising the sector’s main monetary targets and contributing to local stability and economic growth.
LienVietPostBank
currently records outstanding loans of over 1.2 trillion VND.
By the end of 2019, the total operation capital of credit institutions in the
province exceeded 26.5 trillion VND, a year-on-year rise of 13.4 percent. Total
outstanding loans in the province surpassed 22.9 trillion VND, up 9.1 percent
against the previous year. Of which, short-term loans accounted for 42.1 percent,
medium-and long-term ones 57.9 percent.
Banks and credit institutions, especially commercial
banks, all saw an increase in outstanding loans, notably joint Stock Commercial
Bank for Investment and Development of Vietnam (BIDV) 13.8 percent, Vietnam joint
Stock Commercial Bank for Industry and Trade (Viettinbank) 8.2 percent,
Military Commercial joint Stock Bank (MB) 17 percent, Lien Viet Post joint
Stock Commercial Bank (LienVietPostBank) 7.3 percent, and Vietnam Prosperity
joint Stock Commercial Bank (VPBank) 1.8 percent.
In 2019, the total bad debts were estimated at
258 billion VND, making up 1.12 percent of the total outstanding debts, down
157 billion VND compared to 2018.
Banks and credit organisations have worked out
measures to remove difficulties for businesses and pay attention to investment
in local economic development. They have also actively carried out preferential
credit programmes and provided loans for poor households and social welfare
beneficiaries in prioritising fields as directed by the State Bank of Vietnam such as
rural and agriculture.
In 2020, the provincial State Bank of Vietnam branch
strives to increase the mobilisation of capital by 16 percent or more. Outstanding
loans are estimated to climb by 14 percent while the ratio of bad debts below 3
percent./.
Prime Minister Pham Minh Chinh attended a groundbreaking ceremony for an electronic printed circuit board (PCB) factory at Da River Left Bank Industrial Park in Hoa Binh province on April 13. The electronic PCB factory is invested by Japan's Meiko Group at a total cost of 200 million USD.
In the first quarter of 2024, the credit institutions in the province have actively deployed the legal documents of the State and the State Bank relating to currency, credit and interest rates. At the same time, they have promoted the capital mobilization, focusing on the solutions to expand the credit investment along with strengthening the credit quality management, lending to priority programs to promptly meet the capital needs for export - business and consumer demand during Tet in 2024.
Outside the key economic region of Hoa Binh, yet Lac Son district has utilised its potential and strengths regarding labour, land, and transportation connectivity to attract investment to the locality, contributing to promoting socio-economic development.
In a move to expedite the execution and disbursement of the 2024 capital plan for ODA projects, aiming for a disbursement rate of over 90% of the allocated funding, the Hoa Binh People's Committee issued Document No. 483/UBND-KTN on April 3, 2024, regarding such efforts.
Nguyen Van Thap from Kim Duc hamlet, Vinh Tien commune, Kim Boi district, has built the brand of Hoa Qua Son for local fruits. His efforts have brought about income for his family and generated job opportunities for locals, helping hundreds of households escape from poverty.
The Hoa Binh administration was entrusted by the Prime Minister with a budget of 3.43 trillion VND (142.91 million USD) for investment in 2024. The provincial People's Council approved nearly 3.76 trillion VND, which has been meticulously allocated to projects, achieving 100% of the assigned capital plan.
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