Banking facilities in rural areas

Workers process shrimp for export at a firm in the South. Total outstanding loans in HCM City by the end of April 2022 reached more than VND3 quadrillion, of which about VND196 trillion was poured into the Government’s priority areas, including exports. — Photo thoibaonganhang.vn 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. Nguyen Duc Lenh, 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 VND3 quadrillion (US$130 billion), of which about VND196 trillion was poured into the Government’s priority areas, including exports. According to Lenh, 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 per cent in Q1 2022, a fairly high level … [Read more...] about Banks promote lending to exporters amid Viet Nam’s positive shipments

The Vietnam Bear Rescue Center will be located at  Bach Ma National Park in the Central province of Thua Thien-Hue. The new facility will be constructed on an area of 12.7 hectares including 12 houses and 12 semi-wild houses with a total non-refund donation of US$10.5 million from Animals Asia. According to the Vietnam Bear Rescue Center, on May 27, the Forest Protection Department under the Ministry of Agriculture and Rural Development , the Bach Ma National Park coordinated with the Animals Asia to organize a ceremony to publicize the project, which will be built in the administrative-service area of the Bach Ma National Park to serve over 300 species of bear in a semi-natural environment. The project is expected to start construction in 2022 and be completed in four years later. Doctor. Jill Robinson MBE, the founder and General Director of Animals Asia Speaking at the ceremony, Deputy Director of the Forest Protection Department Nguyen Quoc Hieu informed that … [Read more...] about Vietnam to build second facility of Vietnam Bear Rescue Center in Thua Thien-Hue

Workers process shrimp for export at a firm in the South. Total outstanding loans in HCM City by the end of April 2022 reached more than VNĐ3 quadrillion, of which about VNĐ196 trillion was poured into the Government’s priority areas, including exports. — Photo thoibaonganhang.vn HÀ NỘI — 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 … [Read more...] about Banks promote lending to exporters amid Việt Nam’s positive shipments

Experts from the Hà Nội Department of Agriculture and Rural Development and the Hà Nội Agriculture Promotion Fund visit a chicken raising model for clean eggs with high productivity in Liên Châu Commune, Thanh Oai District in Hà Nội. — Photo courtesy of the Hà Nội Sub-department of Agricultural, Forestry and Fisheries Quality Management HÀ NỘI — Hà Nội’s agricultural sector has strengthened safe agricultural areas to ensure sustainable production and provide a source of clean food for domestic and foreign consumers living in the capital city. Nguyễn Giáp Đông, head of the Ba Vì District's Economic Division, said that the district currently maintained a safe tea production area spanning 1,550ha and productivity of 10.5 tonnes per hectare per year. The output for the whole year is estimated at 16,275 tonnes of fresh buds, worth VNĐ350 million (US$14,900) per hectare per year. To help farmers maintain and expand safe production areas, Ba Vì District has supported and created … [Read more...] about Hà Nội builds safe agricultural production areas

Illustrative image (Source: VNA) Hanoi (VNA) – Total credit supply in 2022 reached over 11 quadrillion VND (474.3 billion USD) as of May 20, up 7.66 percent compared to that at the end of 2021 and doubling the figure recorded in the same time last year, according to Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu. At a virtual conference of the banking sector on May 27, Tu said that right from the beginning of this year, the SBV has guided credit flow towards the production and business sectors as well as prioritised areas, while tightly controlling credit in risky areas. Particularly, a growth of over 8 percent was seen in credit for sectors facing difficulties such as tourism and hotel, while a 7.6 percent increase was recorded in industrial sectors and supporting industries. The SBV Deputy Governor said that as of the end of April, over 695 trillion VND of loans had been given to more than 1.1 million customers. Thanks to the strong credit … [Read more...] about Credit supply sees two-fold rise

The launch of the project on May 27 (Photo: VNA) Hanoi – An EU and French-funded project was launched on May 27 to improve the climate resilience of urban infrastructure in four northern central provinces of Vietnam. The project is financed with 5 million EUR (over 5.3 million USD) in non-refundable aid from the EU, 123 million EUR in ODA loan from the French Development Agency (AFD), and 28 million EUR from the Vietnamese Government. It aims to reduce the vulnerability to natural disasters in five urban areas, namely Phat Diem township (Ninh Binh province), Ngoc Lac township (Thanh Hoa province), Hoang Mai town (Nghe An province), and Huong Khe and Thach Ha townships (Ha Tinh province). Under this project, necessary urban infrastructure facilities will be built to serve water drainage, ease flooding, and improve environmental hygiene, clean water supply, and solid waste treatment. Technical assistance will also be provided to help the localities enhance the project’s … [Read more...] about EU-funded project to boost urban infrastructure’s climate resilience

A rice field in the Mekong Delta province of Đồng Tháp’s Tháp Mười District. Many rice farmers in the delta are gradually reducing their areas for rice cultivation due to rising prices of input materials — VNA/VNS Photo Nhựt An MEKONG DELTA — Rice farmers in many Cửu Long (Mekong) Delta provinces are reducing rice cultivation over rising prices of inputs like fertilisers and pesticides. According to the Đồng Tháp Province's Department of Agriculture and Rural Development, the area of rice cultivation in the province for the summer-autumn crop is 375,263ha, down 8,305ha over last year. In An Giang Province, the area of rice seeding for the same crop was 209,186ha, down about 600ha over last year. The province’s Plant Protection Division said farmers were switching to vegetables and fruits. Vĩnh Long Province, meanwhile, expected to sow 51,500ha of rice for the summer-autumn crop last year, but the total sowing area was around 45,267ha, about 88 per cent of the plan. … [Read more...] about Mekong Delta farmers back away from rice as input costs rise

The AFD and EU have been actively supporting Vietnam in the areas of climate change mitigation and adaptation. Vietnam will receive financial aid from the EU and the Agence Française de Développement (AFD) to reduce the vulnerability to climate hazards in several towns in four northern and central provinces. The project is jointly co-financed with a EUR5 million (US$5.36 million) grant from the EU, a EUR123 million ($132 million) ODA loan from the AFD, and EUR 28 million ($30 million) from provincial budgets. The principal goal is to help localities adapt to climate change and recover from natural disasters such as flooding, typhoons, and drought. Delegates attend the launching ceremony. Photo: the Embassy of France in Vietnam The regional towns include Phat Diem in the northern province of Ninh Binh, Ngoc Lac in the central province of Thanh Hoa, and Hoang Mai in the central province of Nghe An, Huong Khe, and Thach Ha in the central province of Ha Tinh. … [Read more...] about AFD, EU strengthen urban climate resilience in Vietnam

Land and housing prices have increased by 20-25 per cent in urban areas. — VNA/VNS Photo Experts have warned that the high rate of inflation will cause the domestic housing market to continuously see prices increase, but liquidity decrease. According to real estate consultant Le Quoc Kien, the market from the middle of last year until now has seen low transactions as the land and housing prices have increased by 20-25 per cent in the urban areas and 30 per cent in the suburban areas. Meanwhile, the price has surged by 50 per cent in the neighbouring provinces. Therefore, he predicts that investors who do not face the pressure of bank debt will not sell real estate in the next 6-12 months because they will have to look for other assets. They do not want to keep cash in a period of high inflation. Meanwhile, investors who suffer pressure from banking loans will be forced to sell property when inflation is high. According to the General Statistics Office, core inflation in April … [Read more...] about Housing market sees price increase, liquidity decrease

The National Assembly will this week discuss how to provide more jobs for Vietnam’s citizens, Photo: Le Toan Over the past seven months, Nguyen Duc Minh has been in a lurch to feed his 4-member family, with his wife having had to stop working since late last year for a garment company in Hanoi. Before that time, Minh had been working for a Japanese company based in the capital’s Thang Long Industrial Park for four years. However, the company, producing electronics and plastics equipment, has made a staff cutback of 150 employees including Minh, whose monthly income was about VND7 million ($300). “The company had to reduce production caused by a decrease in export orders from Japan, South Korea, and some European markets,” Minh said. “I hope to be employed again by the company as I learned that the company is going to recover.” In Dong Anh district’s Kim Chung commune, home to Minh’s family, thousands of unemployed people are commonly seen now. They used to work in Thang Long … [Read more...] about All policies on table to ignite enterprises