Long An: Over 5,263 billion VND considered to restructure and extend debts for businesses by credit institutions
On April 22, the State Bank of Vietnam (SBV) - Long An Branch cooperated with the Department of Industry and Trade, representatives of the commercial banking system, the Provincial Business Association, the Dragon Fruit Association to have a meeting to listen to business opinions to overcome difficulties of businesses, to solve difficulties in order to boost production and business for people and businesses, restart the economy and cope with the Covid-19 epidemic.
Director of the SBV - Long An Branch - Dao Van Nghiep suggests that credit institutions should consider lowering interest rates for each business sector
The director of the SBV - Long An Branch - Dao Van Nghiep said that the Central State Bank has issued many scenarios to cope with the evolution of the disease over the past time. They created favorable conditions for businesses in production and trade. Credit institutions and banks in the province should closely monitor production activities of enterprises, strongly deploy credit packages to support businesses to overcome difficulties and restart the economy.
Mr. Nghiep suggested that credit institutions should consider lowering interest rates from 1-2 percent per year for each business; reducing cumbersome administrative procedures for businesses to quickly access cash flow.
Enterprises trading in goods storage, retail trade, trading in agricultural products shared that they had recently approached capital to reserve goods, serving the shopping needs of the people. However, at present, businesses face many difficulties such as declining sales, too much inventory. Enterprises proposed restructuring, rescheduling debts, reducing interest rates for some loan packages.
Representatives of a number of commercial banks in the province said that policies to support businesses were launched by many banks under the guidance of the SBV and reached businesses such as reducing interest rates on each loan package and business sector.
In Long An, loans of enterprises affected by Covid-19 disease were over 12,000 billion VND until April 15. In particular, there have been over 5,260 billion VND considered by credit institutions, restructured and extended debt with over 2,100 enterprises and individual customers. Currently, the banking system in the province is being implemented drastically under the Circular No. 01/2020/TT-NHNN of March 13, 2020. Therefore, the customers are considered, structured and extended debt increasingly.
The SBV - Long An Branch has also established a hotline to receive and handle petitions, proposals, difficulties and problems of people and businesses related to Circular 01/2020/TT- NHNN, Instruction 02 of the SBV on rescheduling debt payment, exemption and reduction of interest and fees, keeping the debt group in order to support customers affected by the Covid-19 epidemic./.
By Mai Huong – Translated by Duc Tam
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