US$491 million to be invested in market stabilization program in 2021-2022
According to the Ho Chi Minh City Department of Industry and Trade, six banks and credit institutions are registered in the market stabilization program for the period 2021-2022 with a total of VND11,346 billion (US$491 million) to support businesses to prepare goods for the program.
Enterprises with the demand for bank loans will be connected with credit institutions with long-term interest rates ranging from 6.5 percent to 11.3 percent a year and short-term interest rate of 4.5 percent per year to invest in livestock and production activities, technology renovation and development of distribution systems and goods storage.
The paymen term of loans and interest rates will be based on the agreement between the credit institutions and enterprises under the market stabilization program.
Besides, the Department of Industry and Trade also encouraged businesses to use their capital, strengthen linkage and cooperation between manufacturing enterprises and distributors to be loaned for production, ensure plentiful goods, stable prices and raise the competitiveness of subsidized products.