SBV Hai Phong Seeking Troubleshooting Measures for Businesses

As of the end of the second quarter of 2013, the amount of credit lent to priority fields under the direction of the Government and the State Bank of Vietnam was over VND24 trillion, accounting for 49.4 percent of total outstanding loans. In particular, loans for SMEs were VND15,589 billion; loans for export-oriented production were VND1,667 billion, loans for supporting industries were VND725 billion; and loans for companies with high-tech applications were VND17 billion.

 

In agriculture and rural development field, loans for farmers to carry out production farming plans were VND6,421 billion as of end-June , up 11 percent over 2012, with 142,677 current borrowers. In particular, 881 farms incurred VND121 billion of loans outstanding, 285 companies borrowed VND1,371 billion, and 141,513 households, small business and individuals owed VND4,906 billion.

 

To date, 5,876 borrowers have their lending conditions changed. Particularly, 250 corporate customers have VND3.538 billion of outstanding loans adjusted, accounting for 91.6 percent of total outstanding loans adjustable. 884 borrowers enjoyed interest rate cuts on loans of VND825 billion and the amount of rate cut approximated VND55 billion.

 

Together with the above measures, SBV Hai Phong has reviewed, classified, generalised and sent reports to the SBV and the Hai Phong People's Committee, organised direct dialogues with business associations and enterprises to identify difficulties and problems, listen to proposals from businesses, and coordinated with local credit institutions to find out concrete troubleshooting solutions to for enterprises.

 

The branch has timely collected and satisfactorily answered all complaints from businesses at the meetings with businesses, business associations and related credit institutions. Credit institutions and businesses have worked together on issues of joint concerns for settlement in accordance with the laws.

 

In the coming time, the SBV Hai Phong Branch will continue to direct local credit institutions to mobilise deposits with various forms and measures; boost up propaganda, marketing, advertising activities; and flexibly use interest rate measures on the principle of market mechanism and under the guidance of higher authorities. The branch will also direct credit institutions to raise the quality of customer services in order to ensure the stable deposit growth. The branch will also assist companies to widen access to capital sources for business expansion. The development of businesses will contribute to the social and economic development of Hai Phong City.