Mr. Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam (SBV), Branch No. 2, shared that as of late May 2025, Ho Chi Minh City’s outstanding credit balance is estimated at VND 4.1 quadrillion, up 3.6% from the end of last year and 13.2% from the same period.
Credit capital has been focused on priority sectors and fields, with a particular emphasis on supporting the import-export sector by offering the most competitive rates (in terms of interest rates, transaction fees, procedures, etc.) to help businesses navigate the negative impacts of US tax policies on certain export items. Additionally, the banking sector continues to foster connections and dialogues with import-export enterprises through collaborations with the City’s Trade and Investment Promotion Center and the Business Association.
According to Mr. Lenh, the low-interest-rate environment not only helps businesses reduce borrowing costs and increase growth but also encourages them to expand their production and business operations.
Specifically, short-term credit programs in VND with an annual interest rate of no more than 4% have enabled numerous small and medium-sized enterprises, export businesses, and high-tech enterprises to access preferential capital. Moreover, policy credit programs, such as social housing loans, disbursement of credit packages for aquatic products, and housing credit packages for people under 35 years old, have also facilitated the development of production and business activities.
Moving forward, Ho Chi Minh City’s banking sector will continue to implement and promote solutions related to monetary and credit policy mechanisms, capital and banking services, and other initiatives to contribute to the city’s economic growth target of a double-digit increase in 2025.
– 16:15 29/05/2025
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