(HBO) – Since the start of this year, the State Bank of Vietnam (SBV)’s Branch in Hoa Binh province has actively implemented guidelines and policies of the Party, State and sectors for banks and credit institutions in the province, with focus placed on providing preferential credit to people and businesses hurt by the COVID-19 pandemic and expanding non-cash payment from 2022 – 2025.
Vietcombank’s branch
in Hoa Binh contributes to effectively boosting the local economic development.
Reports showed that Hoa Binh’s monetary market
remained fairly stable this year, with total capital mobilized by the end of
May totaling 35.55 trillion VND, up 6 percent from the end of last year. Over
28.13 trillion VND of which came from businesses and individuals, an increase
of 8 percent from the end of 2021.
According to statistics from the SBV Branch in
Hoa Binh, total outstanding loans in agriculture and rural development exceeded
15.78 trillion VND as of the end of May, accounting for 51 percent of the
total. Soft loans for small- and medium-sized enterprises reached over 7.03
trillion VND, making up 22.7 percent of the total; and that for exports and
supporting industry valued 22 billion VND.
In the coming time, Ngo Quang Loi, Deputy
Director of the SBV Branch in Hoa Binh, said it will continue focusing on
enforcing the State and Party’s related guidelines and policies, particularly
financial support packages under the government’s post-pandemic recovery
programme; and accelerate inspection over banks and credit institutions and
anti-corruption efforts.
It will also closely control credit provision in
high-risk sectors, such as investment, real estate, securities, BOT and BT
transport projects, and corporate bonds; and strictly monitor credit poured
into land use right auctions under the direction of the State Bank of Vietnam.
The SBV Branch has been urging the continued
provision of support for pandemic-hit enterprises to push for economic recovery
and the effective implementation of policy credit programmes, particularly for
the poor and policy beneficiaries. It also plans to promote digital transformation
and cashless payment over the next three years./.
In Lac Thuy district, communes have been succeeded in promoting their One Commune-One Product (OCOP) products while others are still struggling to position their typical farming products in market. Some communes in the district still fail to have their products met OCOP programme’s requirements, while others have seen their certifications expired.
The inspectorate agency of Hoa Binh province has issued Official Dispatch No. 1090/TTr-PCTN to provincial departments, agencies, localities, business associations, enterprises, and investors regarding measures to improve informal component indexes of the Provincial Competitiveness Index (PCI).
Hoa Binh is taking concrete steps to improve its investment environment, with a strong focus on supporting businesses, settling obstacles for strategic investors, and creating opportunities for robust development in the coming years.
Under the blazing early summer sun, the construction site of Nhuan Trach Industrial Park (IP) in Luong Son district is abuzz with activities from dawn to dusk, a testament to the determination of the investor to meet their construction targets on schedule.
