(HBO) – The total outstanding loans of banks and credit institutions in the northern province of Hoa Binh reached over 21 trillion VND (907.8 million USD) at the end of 2018, a year-on-year rise of 12.46 percent, according to the State Bank of Vietnam’s local branch. Of which, the short-term outstanding loans were 8.63 trillion VND, making up 41 percent; middle and long-term ones, over 12.4 trillion VND, accounting for 59 percent.
The Hoa Binh branch of the joint Stock Commercial Bank for
Investment and Development of Vietnam (BIDV) offers production loans for many
enterprises and business households in the locality.
The interest rate for short-term production and
business loans of commercial banks ranged from 6.5 percent to 10 percent per
year (normally 8.5-9 percent per year), while middle- and long-term ones
10.5-11.5 percent per year.
People’s credit funds applied the interest rate
of between 10.8 percent and 12 percent per year for short-term loans, and
10.8-13.2 percent per year for medium- and long- term ones.
That for consumer loans of commercial banks and
people’s credit funds stood at 11 percent and 12-13.2 percent per year,
respectively.
Banks and credit institutions offered over 12
trillion VND in loans for the agricultural and rural sector, making up 62
percent of the total outstanding loans, up nearly 13 percent versus 2017.
Loans for small and medium-sized enterprises (SMEs) accounted for over 20
percent of total outstanding loans. The outstanding loans for industry, export,
high-tech and clean agriculture remained low./.
Appreciating the abundant potential and strengths of his hometown for tourism development, Ha Cong Hung, Deputy Secretary of the youth union of Mai Chau district’s Mai Hich commune, embarked on producing smoked meat with a desire to introduce his homeland's specialty to domestic and international tourists.
Hoa Binh farmers are investing big in their chilli pepper cultivation areas after the first batch of 7.5 tonnes of pickled chilli peppers was shipped to the Republic of Korea (RoK) by Tien Ngan Trade and Investment Co., Ltd last month.
Recognising the role and importance of developing the collective economy, the northern province of Hoa Binh has promptly issued support policies to propel the development of the economy, making important contributions to local socio-economic development.
Prime Minister Pham Minh Chinh attended a groundbreaking ceremony for an electronic printed circuit board (PCB) factory at Da River Left Bank Industrial Park in Hoa Binh province on April 13. The electronic PCB factory is invested by Japan's Meiko Group at a total cost of 200 million USD.
In the first quarter of 2024, the credit institutions in the province have actively deployed the legal documents of the State and the State Bank relating to currency, credit and interest rates. At the same time, they have promoted the capital mobilization, focusing on the solutions to expand the credit investment along with strengthening the credit quality management, lending to priority programs to promptly meet the capital needs for export - business and consumer demand during Tet in 2024.
Outside the key economic region of Hoa Binh, yet Lac Son district has utilised its potential and strengths regarding labour, land, and transportation connectivity to attract investment to the locality, contributing to promoting socio-economic development.
