VND20 Trillion In Credits For HCM Citys 2018 Market Stabilisation

Twelve credit institutions participating in the market stabilisation programme this year have agreed to set aside VND19.65 trillion to make low-interest loans for enterprises.

The government news website quoted Nguyen Duc Lenh from the central bank’s HCM City branch as saying that the programme has attracted three more credit institutions to participate. Total credits registered by the 12 lenders are VND1.48 trillion higher than last year.

Last year’s short-term interest rates for the programme ranged from 5.5 percent to 7 percent per year.

Regarding development orientations of the 2018 programme, Nguyen Huynh Trang, deputy director of the HCM City Department of Industry and Trade, said HCM City will continue to expand the programme.

HCM City plans to coordinate with other localities to support enterprises in joining connectivity programmes monthly as well as help enterprises expand their sales networks.

Goods supplies in this year’s programme, including the 2019 Lunar New Year holiday period, are expected to satisfy 25-40 percent of market needs and pick up 15-35 percent from last year’s results, Trang said.

According to the city’s trade department, enterprises participating in the market stabilisation programmes have always prepared bountiful goods supplies and offers prices which are 5-10 percent lower than market levels.

The number of selling points of the market stabilisation programme in HCM City is now 10,602, making it easy for city residents, particularly those working at export processing zones and industrial parks, to buy quality products at reasonable prices.

http://english.thesaigontimes.vn/59393/VND20 trillion-in-credits-for-HCM City percentE2 percent80 percent99s-2018-market-stabilisation.html

 

Category: Finance, Vietnam

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