(HBO) – In the face of the COVID-19 pandemic’s impact on many economic sectors, some commercial banks in Hoa Binh province have decided to extend debt payment deadlines, not charge interest on late payments, and assist people and businesses to access preferential loans to overcome difficulties.
The
Agribank branch in Cao Phong district has created favourable conditions for
clients to take out loans as the COVID-19 outbreak has hampered production and
business activities.
Since the year’s beginning, the COVID-19
outbreak has greatly affected the operation of local enterprises and business
households.
A homestay facility owner in Lac village of Chieng Chau commune, Mai Chau district,
said there are about 60 homestays receiving domestic and foreign visitors in
the village at present. However, the epidemic has forced many of them to shut down
and discouraged tourists to visit here.
Nguyen Anh Tuan, Director of the MBBank’s Hoa
Binh branch, noted it has more than 30 individual clients with loans of about 5
billion VND (211,800 USD) in Hoa Binh. His branch has built plans to support
them. It has also reviewed business borrowers that operate in the fields of
hospitality, transportation and trading of goods with China so as to
provide assistance such as cutting interest rates or extending debt payment
deadlines.
According to the provincial branch of the State
Bank of Vietnam (SBV), outstanding loans in Hoa Binh totaled nearly 22.68
trillion VND through the end of February, rising by just 0.2 percent from late
2019. The sum consists of nearly 9.3 trillion VND in short-term loans and 13.38
trillion VND in medium- and long-term loans, respectively accounting for 41
percent and 59 percent of the total.
Deputy Director of the branch Ngo Quang Loi said
to carry out the SBV’s monetary policy and directions, his branch has instructed
credit organisations to keep track of the production – business situation and
losses of their clients due to COVID-19’s impact, especially sectors vulnerable
to the pandemic like tourism, agriculture and import-export, so as to take
timely measures to help them address difficulties. At the same time, it is also
working to meet the capital demand of feasible production and business plans
and prioritise capital for agriculture and rural development./.
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.
Hoa Binh province has mobilised all resources to propel local agricultural products to make inroads into foreign markets, towards lifting the export turnover of key agricultural products to 137.8 million USD by 2030, accounting for 3.4% of the locality’s total export value of goods.
The locality aims to export farm produce to the US, the European Union, the UK, China, Japan, and the Republic of Korea.
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