Vietnamese Businesses Seeking Medium-Term Capital
According to statistics from the General Statistics Office, in the first ten months of the year, there were over 202,300 newly established and re-operating enterprises nationwide, a 9.1% increase compared to the same period in 2023, surpassing the number of businesses exiting the market.
However, the registered capital of these new enterprises reached nearly VND 2,613.1 thousand billion, a 4.7% decrease compared to the same period last year, reflecting businesses’ cautious psychology in investing in production and trading activities, as well as the existing challenges in accessing credit. The average registered capital per enterprise was VND 9.6 billion, a 2.2% increase compared to the same period in 2023 but remained lower than in the years 2017-2022.
Many businesses desire flexible medium-term loans for their operations.
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After a challenging period of navigating his business through the pandemic and market fluctuations, Mr. Huynh Van Phat, owner of a agricultural product processing company in Hai Duong, expressed his concern about not finding a suitable loan option to confidently seek large orders, especially with the new business year approaching.
“To execute large-scale supply projects for our partners, businesses still rely on bank capital. We genuinely hope for medium and long-term loans to plan for more extensive ventures and confidently stride forward,” said Mr. Phat.
Sharing similar sentiments, Ms. Vu Thi Hoa, owner of a packaging production company in Hung Yen, also aspires to access capital for long-term investments to purchase additional equipment and expand her production facilities from the beginning of next year.
“We anticipate that capital from banks will create a boost for businesses in 2025,” Ms. Hoa shared.
NCB Addresses the Challenge of Capital Access
Accompanying businesses in a market full of obstacles, NCB has launched the program “Flexible Advantages – Sustainable Development,” exclusively tailored for enterprises seeking medium-term capital for their production and business activities. The program offers an attractive interest rate of only 7% per annum and a long repayment period of up to 60 months.
NCB’s credit package helps businesses reduce financial burden and thrive.
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NCB provides flexible financing for diverse purposes, including investing in machinery, equipment, and production lines, as well as construction, office renovation, production expansion, market diversification, and exploring new industries. Depending on their needs and financial capabilities, businesses can choose a suitable loan option and enjoy corresponding attractive interest rates: 7%/year for the first 12 months or 8%/year for the first 24 months. The program is valid until December 31, 2024.
By participating in this product, NCB’s organizational customers also benefit from a range of superior policies, such as flexible repayment schedules aligned with their business cycles and streamlined credit approval processes. This alleviates pressure on cash flow, providing peace of mind to implement long-term business plans and maximize revenue and profit potential.
Standing alongside businesses in their post-crisis recovery journey, NCB has consistently offered financial solutions and proactively provided credit to the economy, focusing on three primary growth drivers: consumption, investment, and exports. Numerous superior solutions have been tailored by NCB for various sectors and scales of operation, earning the trust of enterprises in their development and international cooperation. Notable examples include financing for distributors in the fast-moving consumer goods (FMCG) sector, unsecured loans of up to VND 10 billion, credit solutions for businesses executing projects funded by the state budget or ODA, and a fixed-rate remittance program that helps businesses save significant costs while optimizing international transactions.
These valuable financial tools, coupled with NCB’s diverse and practical benefits, not only bolster businesses’ confidence and motivation for production and trading activities but also underscore the bank’s proactive role and strong commitment to the Vietnamese business community.
NCB affirms that it will continue to introduce financial solutions closely linked to businesses’ lives and development in the future. These solutions will help enterprises overcome challenges, ensure smooth and harmonious production and trading processes, and enhance their digital offerings. Additionally, NCB is committed to upgrading and digitizing its products and services to deliver unique experiences and enhance the advantages for its organizational customers, thereby adding value to the community.
For more detailed information, program terms and conditions, and other attractive promotions, customers can visit NCB’s website at https://www.ncb-bank.vn/, contact NCB’s branches/transaction offices nationwide, or call the Hotline (028) 38 216 216 – 1800 6166.
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