At the Conference on the implementation of monetary policy tasks in 2024, Mr. Dang Minh Truong – Chairman of the Board of Directors of Sun Group, said that as a company operating in the fields of entertainment, tourism, resorts, and resort real estate, the support policies from the Government have brought certain effects.
In 2023, Sun Group’s Ba Den Mountain tourist area (Tay Ninh) welcomed 5 million visitors. In 2024, the expected number is 7 million visitors, and up to now, the company has achieved 2 million cable car passengers thanks to new visa regulations and other flexible policies, added Mr. Truong.
 Ba Den Mountain tourist area in Tay Ninh
|
Regarding the monetary policy management task in 2024, as a resort real estate company, Sun Group stated that first and foremost, alongside the policy improvements, the Government and the State Bank have implemented a synchronized monetary policy to support the economy, especially by maintaining low interest rates and reducing lending rates. “In fact, we have obtained loans with significantly lower interest rates compared to last year,” said Sun Group’s leader.
Secondly, the State Bank proactively allocated credit limits from the beginning of the year, helping commercial banks and cooperating businesses to make plans early in the year to serve customers.
Thirdly, Circular 22/2023, effective from July 1, 2023, adjusted and lowered risk ratios for some loans, giving commercial banks additional room to support social housing and industrial real estate projects, as well as the production and business activities of the Group.
Regarding the exchange rate, the State Bank has recently conducted 28-day term deposit auctions, regulating short-term excess money in the market and stabilizing the exchange rate, which has had a really positive impact on Sun Group’s business activities.
However, to accelerate growth and stabilize the macro economy, Sun Group also has a number of proposals. Firstly, the Government and the State Bank are requested to continue implementing policies that maintain macroeconomic stability, most importantly, stabilize deposit and lending interest rates.
Secondly, infrastructure investment needs to be promoted, especially in key national projects, in order to create conditions for large and reputable businesses to participate.
Thirdly, with the current and future policies that support businesses in the economy, the Government is requested to provide guidance and synchronized explanations from central to local levels, businesses, and banks, so that these policies can be put into effect as quickly as possible.
Lastly, Sun Group expresses the desire for real estate businesses to have access to credit capital at lower costs.
“Currently, the difference between loans from joint-stock commercial banks and state commercial banks is quite large (from 4 – 5%). Businesses hope to narrow this gap, and if possible, further reduce borrowing costs to create conditions for business recovery,” shared Mr. Truong.
