Reduce troublesome procedures but still ensure loan safety

VCN - The State Bank of Vietnam (SBV) has required commercial banks to improve and renew the lending process towards simplifying procedures, reducing troublesome procedures but still ensuring loan safety.
4525-2638-ngan-hang-hlinh
SBV offers many solutions to solve problems for businesses. Photo: Huu Linh

In Plan No. 09 / KH-NHNN on contributing to solve difficulties, promote production - business, consumption and accelerating the disbursement of public investment capital of the State Bank, this agency estimated GDP growth from 2.5 - 3% in 2020.

By 2021, domestic and international organizations forecast that Vietnam's economy will recover strongly and belong to the group of countries with high growth rates compared to the region and the world, in the region from 6.3 - 11.2%.

According to the State Bank, Vietnam's GDP growth rate in 2021 will recover again, but the recovery momentum can be in two scenarios:

First, if the disease is controlled in Vietnam and the pandemic pushed back, service activities and goods trade will be quickly restored. Reconnecting the supply chain will help Vietnam grow strongly due to the advantages of early disease control. With this scenario, GDP growth in 2021 is expected to reach 6.5 - 7.5%.

Second, if the pandemic continues to affect economic performance in the first half of 2021. The slow recovery of the world economy will affect the domestic economy due to Vietnam's large openness and participation in the global supply chain. With this scenario, Vietnam's GDP growth in 2021 could reach 5-6%.

On the basis of these scenarios, the State Bank said it will continue to implement tasks and solutions to restore and develop the economy.

Specifically, to continue operating monetary policy proactively, ensuring sufficient and timely provision of credit capital to the economy, support businesses facing difficulties due to the impact of the pandemic; deploying credit solutions to support businesses and people.

Credit institutions must continue to implement Circular 01 of the State Bank of Vietnam on rescheduling debts, exempting or reducing interest and fees, keeping the debt group intact to support customers affected by Covid-19. Commercial banks must continue to improve and revise their lending process towards simplifying procedures, reducingproblems for borrowers while ensuring loan safety.

By Huong Diu/ Phuong Thao

Related News

Outlook for lending rates in 2025?

Outlook for lending rates in 2025?

VCN - The economy is forecast to continue to recover strongly from the end of 2024 to 2025, helping credit demand increase rapidly, but lending interest rates may also be under increasing pressure.
Industrial production maintains rapid and throughout bounceback

Industrial production maintains rapid and throughout bounceback

VCN - The industrial production index in 11 months continued to recover rapidly and increase steadily in 60/63 provinces and cities, which is a good signal for the economy.
Ho Chi Minh City achieves record state revenue of over VND500 trillion in 2024

Ho Chi Minh City achieves record state revenue of over VND500 trillion in 2024

VCN - For the first time in its history, Ho Chi Minh City’s budget revenue surpassed VND500 trillion in just 11 months of 2024.
Multiple drivers propel positive growth in budget revenue

Multiple drivers propel positive growth in budget revenue

VCN - Dr. Bui Dang Dung, former Deputy Chair of the National Assembly’s Finance and Budget Committee, believes that the 2024 state budget revenue results are highly encouraging, reflecting the concerted efforts of the Government, relevant agencies, and the business community amid challenging economic conditions.

Latest News

Malaysia initiates anti-dumping investigation on galvanised sheets from Việt Nam

Malaysia initiates anti-dumping investigation on galvanised sheets from Việt Nam

Malaysia has announced it will initiate an anti-dumping duty investigation on the imports of galvanised iron coils/sheets or galvanised steel coils/sheets originating from or imported from Việt Nam, China and South Korea.
Coffee prices hit record highs, heightening speculation risks

Coffee prices hit record highs, heightening speculation risks

Phan Minh Thông, Chairman of Phúc Sinh JSC, called the price surge "insane," warning of continued increases as businesses are compelled to trade at elevated prices instead of following pre-set contracts.
Exports witness a rise of US$1 billion in the first 15 days of 2025

Exports witness a rise of US$1 billion in the first 15 days of 2025

VCN - Compared to the same period in 2024, exports in the first half of January 2025 increased by more than 6%, equivalent to nearly USS$1 billion.
Central industrial hub sets ambitious growth target in 2025

Central industrial hub sets ambitious growth target in 2025

The central province has targeted ambitious growth of up to 10 per cent with some key strategic industrial investment projects in 2025, contributing VNĐ25 trillion (US$1 billion) to the State budget.

More News

Demand for dragon fruit in Tiền Giang Province continues to increase

Demand for dragon fruit in Tiền Giang Province continues to increase

Dragon fruit prices in Tiền Giang Province remain high after the Lunar New Year due to increased demand from China and domestic consumption.
Data centres are attracting investors in Asia

Data centres are attracting investors in Asia

The global data centre market reached new heights in 2024, driven by the growing demand for generative AI, which has triggered a new wave of investment.
US or China: Who will lead in Vietnamese Tra fish imports?

US or China: Who will lead in Vietnamese Tra fish imports?

VCN - Given that tra fish is a key export commodity for Vietnam's seafood industry, the question arises whether the United States will surpass China as the leading importer of this product in 2025.
Sustainable fashion presents promising niche market for textile manufacturers

Sustainable fashion presents promising niche market for textile manufacturers

The combination of sustainability and culture will open up more opportunities for Vietnamese textile enterprises to strengthen their position in the global market and capture the promising Nordic fashion market.
VN

VN's car industry to diversify supply chain

While China remains a significant supplier, recent trade data highlights Việt Nam’s efforts to diversify supply to meet industry demands.
Exports of agro-forestry-aquatic products down nearly 5 per cent in January

Exports of agro-forestry-aquatic products down nearly 5 per cent in January

Việt Nam’s export value of agro-forestry-aquatic products was estimated at US$5.08 billion in January, marking a 4.9 per cent decline compared to the same period last year.
Thailand reviews anti-dumping tax on Vietnamese steel

Thailand reviews anti-dumping tax on Vietnamese steel

TRAV recommended that the Việt Nam Steel Association (VSA) notify relevant local manufacturers and exporters to answer the investigation questionnaire within the prescribed deadline.
In the first 15 days of 2025, total import-export turnover reached more than US$34 billion

In the first 15 days of 2025, total import-export turnover reached more than US$34 billion

VCN - Total import-export turnover in the first half of January 2025 reached more than US$34 billion, the trade balance had a deficit of nearly US$2 billion.
Pangasius fetch record price in early 2025

Pangasius fetch record price in early 2025

Currently, larger pangasius weighing over 1.2kg, are selling at VNĐ32,440 (US$1.29) per kilogram, a record high not seen since 2022.
Read More

Your care

Latest Most read
Malaysia initiates anti-dumping investigation on galvanised sheets from Việt Nam

Malaysia initiates anti-dumping investigation on galvanised sheets from Việt Nam

Malaysia has announced it will initiate an anti-dumping duty investigation on the imports of galvanised iron coils/sheets or galvanised steel coils/sheets originating from or imported from Việt Nam, China and South Korea.
Coffee prices hit record highs, heightening speculation risks

Coffee prices hit record highs, heightening speculation risks

Phan Minh Thông, Chairman of Phúc Sinh JSC, called the price surge "insane," warning of continued increases as businesses are compelled to trade at elevated prices instead of following pre-set contracts.
Exports witness a rise of US$1 billion in the first 15 days of 2025

Exports witness a rise of US$1 billion in the first 15 days of 2025

Compared to the same period in 2024, exports in the first half of January 2025 increased by more than 6%, equivalent to nearly USS$1 billion.
Central industrial hub sets ambitious growth target in 2025

Central industrial hub sets ambitious growth target in 2025

The central province has targeted ambitious growth of up to 10 per cent with some key strategic industrial investment projects in 2025, contributing VNĐ25 trillion (US$1 billion) to the State budget.
Demand for dragon fruit in Tiền Giang Province continues to increase

Demand for dragon fruit in Tiền Giang Province continues to increase

Dragon fruit prices in Tiền Giang Province remain high after the Lunar New Year due to increased demand from China and domestic consumption.
Mobile Version