Enterprises in EPZs, IPs supported to access suitable credit sources

Representatives of 20 enterprises in export processing zones and industrial parks (EPZs-IPs) and four commercial banks signed and re-signed credit contracts worth more than VND4.66 trillion (US$200 million) at a recent conference to connect banks and businesses.
Enterprises in EPZs, IPs supported to access suitable credit sources ảnh 1 Representatives of enterprises in EPZs-IPs participate in the conference. (Photo: SGGP)
The Ho Chi Minh City Export Processing and Industrial Zones Authority (Hepza) cooperated with the State Bank of Vietnam – HCMC Branch and some commercial banks to organize the conference to connect banks and enterprises with the theme "Accompanying enterprises - Effective financial solutions to support enterprises in EPZs-IPs in HCMC in 2022”.

The conference aims to find solutions to support enterprises in EPZs and IPs to easily access financial sources with appropriate interest rates and loan terms to develop production and business activities. This activity has helped banks to better grasp the characteristics of enterprises in the field of industrial production, thereby studying shortening and simplifying the loan processes and procedures, actively approaching small and medium-sized enterprises to disburse loans according to the Government's preferential policies, especially industrial enterprises in priority fields and enterprises participating in the model of regional and value chain production linkage.

Besides organizing the signing of credit contracts of more than 20 enterprises with HCMC-based commercial banks with a total credit value of more than VND4.66 trillion, this conference is also a bridge to connect other enterprises in need and expand the cooperation scale, as well as an opportunity to answer questions of the business community about finance, banking, and the government and city support policies towards production restoration. In addition, banks also have a chance to listen, share, and especially find solutions to solve very specific difficulties and problems of the business community in EPZs and IPs, such as land rent payment methods, land-use right certificates, and other mortgaged assets, for instance, factories, machinery, and equipment.

At the conference, Mr. Nguyen Duc Lenh, Deputy Director of the SBV - HCMC Branch, popularized the Government's Decree No.31/2022/ND-CP on interest rate support from the State budget for loans of enterprises, cooperatives, and business households, and Circular No.03/2022/TT-NHNN of the Governor of the SBV on guiding commercial banks to provide interest rate support under Decree No.31/2022/ND-CP. This interest rate support program is launched through the commercial banking system in 2022 and 2023 to help businesses, cooperatives, and business households to access bank capital at lower interest rates, thereby, contributing to reducing business costs, increasing operational efficiency, and expanding production and business activities, creating a foundation and driving force for development in the post-Covid-19 period of economic recovery and development.

At the same time, with the proactiveness in reviewing obstacles and difficulties of enterprises in EPZs and IPs when accessing preferential credit sources, as well as the Government's credit support policy and Hepza's proposal, the SBV - HCMC Branch has quickly urged and requested HCMC-based credit institutions and commercial banks to consider and remove difficulties for businesses.

Up to now, the system of credit institutions has accompanied and shared difficulties of enterprises in EPZs and IPs. Up to now, the credit balance of about VND10 trillion has been supported for over 82 enterprises.

By Thu Huong – Translated by Da Nguyet

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