Banks promote lending to exporters amid Việt Nam’s positive shipments

Banks promote lending to exporters amid Việt Nam’s positive shipments.

Commercial banks have stepped up lending to export firms, especially those in industrial parks and export processing zones, as exports of many goods have grown strongly this year.

Nguyễn Đức Lệnh, deputy director of the State Bank of Vietnam (SBV)’s HCM City branch, said total outstanding loans in HCM City by the end of April 2022 reached more than VNĐ3 quadrillion (US$130 billion), of which about VNĐ196 trillion was poured into the Government’s priority areas, including exports.

According to Lệnh, the loans have helped many firms in industrial parks and export processing zones maintain production and business. The credit growth for the firms reached 24.4 percent in Q1 2022, a fairly high level compared to the average credit growth of the whole banking system.

Hứa Quốc Hưng, head of the Management Board of HCM City Export Processing Zone and Industrial Park Authority (HEPZA), said HEPZA has conducted many surveys on credit demand, ability to access capital, and financial sources for firms in industrial parks and export processing zones to propose to the SBV and commercial banks appropriate policies.

According to Hưng, lending to firms has been effective, helping them maintain production and business during the peak period of the pandemic and recover right after HCM City reopened.