(HBO) – Banks in the northern province of Hoa Binh for years have actively provided credits for economic development, especially to meet the capital needs for production and business of enterprises, cooperatives, and business households.
Agribank Hoa Binh branch.
The banking system in the province now includes the State Bank of Vietnam (SBV)
provincial branch and branches of nine commercial banks - Agribank, BIDV,
Vietinbank, VCB, VPBank, LienVietPostbank, MBbank, BacAbank, HDbank, and Social
Policy Bank of Vietnam, plus a People's Credit Fund.
The province has 4,296 enterprises and 486 cooperatives. Most of the businesses
in the province need loans to boost production and business.
The banking system has been implementing credit programmes and policies under
the direction of the Government and the State Bank of Vietnam to create
favourable conditions for businesses and people to access credit capital,
invest in production and business development, create jobs, restore economic
development, and ensure social security.
As of January 31, 2023, the total locally mobilised capital of
credit institutions reached 40.546 trillion VND (1.73 billion USD). Total
outstanding loans to all economic sectors reached 34.22 trillion VND, of which
loans worth 7.656 trillion VND were offered to 1,203 enterprises, accounting
for 22.4% of the total outstanding loans.
Loans for agriculture and rural areas reached 16.535 trillion
VND, accounting for 48.3% of the total outstanding loans; those for 11
cooperatives reached 34 billion VND; and those for individuals and households
for production and business nearly 24.5 trillion VND.
To support credit activities for businesses, over the recent years, the State
Bank of Vietnam's branch has paid special attention to the programmes that
connect banks and businesses in the province.
Accordingly, the branch regularly signs coordination agreements
with the units to exchange and provide information on monetary and credit
policies.
The central bank’s branch also cooperates with the provincial
business association to promptly capture information and remove difficulties,
and create favourable conditions in accessing bank loans.
According to Ngo Quang Loi, Deputy Director of the State Bank of Vietnam's
provincial branch, up to now, the banking sector has organised 67 dialogue
conferences and working sessions with businesses with a total loan commitment
of 9.23 billion VND.
Outstanding loans under signed programmes are over 6.55 trillion
VND, and loan turnover (accumulated from the beginning of the year) is 7.655
trillion VND.
More than 1,270 customers received loans, including 1,203
businesses.
Banks and credit institutions in the province continue to
implement measures to support borrowers and remove difficulties for customers
under the direction of the Government and the State Bank of Vietnam./.
No success is easy, especially for a mountainous province like Hoa Binh, which still faces many difficulties. In the process of economic restructuring, the locality encounters various challenges, ranging from weak infrastructure, ineffective investment attraction, to barriers in awareness. However, it has taken effective solutions to overcome obstacles hindering economic development.
A revolution is unfolding in Hoa Binh province, with broad roads stretching across the terrain, industrial zones humming with machinery, organic vegetable fields rolling out in vibrant green expanses, and tourism destinations emerging, rich with cultural identity.
The Youth Union of Hoa Binh city has launched a series of initiatives to foster entrepreneurship, providing members with opportunities to showcase their potential and contribute to local development.
In recent years, the cooperative economy in Hoa Binh province has made significant progress, particularly in the agricultural sector. This development has contributed not only to local economic growth but also to improving livelihoods, promoting rural development, and protecting the environment.
