Companies with transparent finances, profitability and potential projects may avail of dong loans at 6 – 7 percent interest, the State Bank of Vietnam's (SBV's) weekly revealed on April 14.
The lending interest rate for privileged industries is 8 percent. The five priority sectors include agriculture, export, support industries, small- and medium-sized enterprises and high-tech firms.
Other sectors may have to pay 9-10.5 percent interest per year for short-term loans and 11-12.5 percent interest for mid- and long-term loans.
The business trend survey of Q2, 2014 for credit organisations by the SBV's Monetary Statistics and Forecast Department reported that the majority of the industries expected lower lending interest rates.
An industry expert stated that enterprises should view the reduction in interest as an opportunity to expand business and production.
Apart from attempts to boost loans for companies in the two economic hubs of Ho Chi Minh City and Hanoi, the central city's People's Committee of Da Nang late last month decided to offer preferential loans at 7.5 percent interest to businesses for a one-year period.
Profitable or audited businesses and enterprises without bad debts in any bank in the city can avail of a loan of 120 billion VND (5.7 million USD) from the city's budget and the Investment and Development Fund. In other words, each eligible business can avail of a maximum loan of 5 billion VND (238,000 USD) once, with strict regulations from this year onwards. The loan will be provided to businesses involved in the stable price programme in the city.
Enterprises running at a loss but employing a large workforce can avail of the loan if they propose an effective production plan or provide confirmation of their tax returns and debt payments in the previous years.-VNA
The lending interest rate for privileged industries is 8 percent. The five priority sectors include agriculture, export, support industries, small- and medium-sized enterprises and high-tech firms.
Other sectors may have to pay 9-10.5 percent interest per year for short-term loans and 11-12.5 percent interest for mid- and long-term loans.
The business trend survey of Q2, 2014 for credit organisations by the SBV's Monetary Statistics and Forecast Department reported that the majority of the industries expected lower lending interest rates.
An industry expert stated that enterprises should view the reduction in interest as an opportunity to expand business and production.
Apart from attempts to boost loans for companies in the two economic hubs of Ho Chi Minh City and Hanoi, the central city's People's Committee of Da Nang late last month decided to offer preferential loans at 7.5 percent interest to businesses for a one-year period.
Profitable or audited businesses and enterprises without bad debts in any bank in the city can avail of a loan of 120 billion VND (5.7 million USD) from the city's budget and the Investment and Development Fund. In other words, each eligible business can avail of a maximum loan of 5 billion VND (238,000 USD) once, with strict regulations from this year onwards. The loan will be provided to businesses involved in the stable price programme in the city.
Enterprises running at a loss but employing a large workforce can avail of the loan if they propose an effective production plan or provide confirmation of their tax returns and debt payments in the previous years.-VNA
