(HBO) – The State Bank of Vietnam’s branch in Hoa Binh has mapped out orientations to direct banks and credit organisations in the northern province to implement key tasks in the field, thus realising the sector’s main monetary targets and contributing to local stability and economic growth.
LienVietPostBank
currently records outstanding loans of over 1.2 trillion VND.
By the end of 2019, the total operation capital of credit institutions in the
province exceeded 26.5 trillion VND, a year-on-year rise of 13.4 percent. Total
outstanding loans in the province surpassed 22.9 trillion VND, up 9.1 percent
against the previous year. Of which, short-term loans accounted for 42.1 percent,
medium-and long-term ones 57.9 percent.
Banks and credit institutions, especially commercial
banks, all saw an increase in outstanding loans, notably joint Stock Commercial
Bank for Investment and Development of Vietnam (BIDV) 13.8 percent, Vietnam joint
Stock Commercial Bank for Industry and Trade (Viettinbank) 8.2 percent,
Military Commercial joint Stock Bank (MB) 17 percent, Lien Viet Post joint
Stock Commercial Bank (LienVietPostBank) 7.3 percent, and Vietnam Prosperity
joint Stock Commercial Bank (VPBank) 1.8 percent.
In 2019, the total bad debts were estimated at
258 billion VND, making up 1.12 percent of the total outstanding debts, down
157 billion VND compared to 2018.
Banks and credit organisations have worked out
measures to remove difficulties for businesses and pay attention to investment
in local economic development. They have also actively carried out preferential
credit programmes and provided loans for poor households and social welfare
beneficiaries in prioritising fields as directed by the State Bank of Vietnam such as
rural and agriculture.
In 2020, the provincial State Bank of Vietnam branch
strives to increase the mobilisation of capital by 16 percent or more. Outstanding
loans are estimated to climb by 14 percent while the ratio of bad debts below 3
percent./.
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.
