The program is the result of the implementation of the Government and Prime Minister's directives to promote credit flows to production and business enterprises nationwide. Thereby, supporting enterprises to recover and expand production and business, making an important contribution to the socio-economic development of the country.

Banks accompany businesses to share difficulties

Recalling the context when implementing the Bank-Business Connection Program, Mr. Nguyen Hoang Minh, former Deputy Director of the State Bank of Vietnam, Ho Chi Minh City Branch, who was directly in charge of the Program, said: "The years 2008-2011 were a period of economic difficulties, the world economic recession had an impact on the country, domestic interest rates were very high, the real estate market froze; businesses were operating with great difficulty, "starving for capital", if they could access capital, the interest rate was very high, 16-20%/year.

To remove difficulties and obstacles for enterprises under the direction of the State Bank, the People's Committee of Ho Chi Minh City, the State Bank of Vietnam, Ho Chi Minh City branch proactively proposed the City People's Committee to organize the Bank-Enterprise Connection Program with the State Bank of Vietnam, the City branch, as the focal point, coordinating with the Department of Industry and Trade and districts to organize.

The first program connecting banks and businesses was held in July 2012, with a capital of only 93 billion VND from 5 banks for 12 businesses with an interest rate of about 13%/year (at that time, it was a big incentive).

Mr. Minh recalled that when implementing the Program, there were many difficulties. With the above interest rates, banks even lost a portion of service costs to respond to the Program under the direction of the City People's Committee (in the spirit of sharing and accompanying businesses in difficult times).

Former Deputy Director of the State Bank of Vietnam, Ho Chi Minh City Branch, Nguyen Hoang Minh, said: Through this Program, we see that with the State Bank and the City People's Committee acting as a bridge, it will create conditions for businesses to access credit capital in the most favorable way with the most preferential and reasonable interest rates compared to the market at that time, thereby contributing to solving difficulties for businesses. From the clear effectiveness of the Program and through the direction of the City People's Committee, the banking sector has promoted stronger implementation to all departments, branches, districts in 2012-2013 and the following years.

By 2013, banks in Ho Chi Minh City had registered to participate in the Program with VND14,000 billion, and by 2014, this figure continued to increase to VND40,000 billion. In 2014, the State Bank of Vietnam expanded the model of connecting banks and businesses to localities across the country.

Through the process of maintenance and development, according to statistics from the State Bank, in 2024, in Ho Chi Minh City, the Bank-Business Connection Program has spent more than 510,000 billion VND to disburse capital to businesses with short-term interest rates of only 4-6%/year.

Bringing preferential capital into each production sector, contributing to double-digit growth of Ho Chi Minh City

Entering 2025, in the context of the domestic economy having many improvements, the whole country has entered the era of national development, in which Ho Chi Minh City, as the economic locomotive, aims for double-digit growth. To achieve this goal, the role of credit capital injected into the economy to serve the double-digit growth of Ho Chi Minh City in particular and the whole country in general is very important.

Mr. Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam, Region 2 Branch (HCMC) said that in 2025, the banking sector in HCMC will continue to implement the Bank-Business Connection Program with preferential interest rates of about 4% for short-term loans to support businesses, expand credit growth and promote economic growth. Of which, 18 banks and financial institutions in the city have registered for a preferential credit package of more than VND517,000 billion.

However, the Bank-Business Connection Program this year will have some innovations. Instead of being chaired by districts and counties as in the past three years, this year credit institutions will directly connect with businesses, especially those in growth-driving sectors.

Accordingly, the State Bank of Vietnam, Region 2 Branch, has directed credit institutions in Ho Chi Minh City to proactively plan to organize conferences connecting banks and enterprises by topic and sector groups such as: Export lending; agriculture and rural areas; small and medium enterprises; forestry and aquatic products; housing loans, etc.

According to Mr. Lenh, the implementation in this way aims to maximize the meaning of supporting enterprises and the content of the Bank-Enterprise Connection Program, which are: Connecting to support capital and interest rates; connecting to support banking services; connecting to disburse preferential credit packages according to the orientation of the State Bank such as the credit package for forestry and aquatic products; housing credit package; consumer credit package, etc.

In terms of coordination methods, there will also be many innovations in 2025 when the State Bank of Vietnam, Region 2 Branch, strengthens coordination with the Business Association, professional associations, the Department of Industry and Trade, the Department of Finance, and the Ho Chi Minh City State Financial Investment Company (HFIC) to promptly grasp the situation of enterprises, difficulties and obstacles, and propose recommendations for coordinated handling.

Faced with recent market fluctuations, especially the impact of new US tariffs, Deputy Director of the State Bank of Vietnam, Region 2 Branch Nguyen Duc Lenh said that the City's banking sector will take specific and practical actions to support businesses in general and export businesses in particular in the direction of reducing costs for businesses, creating favorable conditions for the business environment and capital transactions, and banking services.

For export enterprises, continue to expand and increase short-term credit in VND with interest rates not exceeding 4%/year according to regulations on short-term loans in VND for 5 groups of sectors including: small and medium enterprises; export sector; agriculture and rural areas; high-tech enterprises and supporting industries... to create conditions for enterprises to reduce financial costs, directly support enterprises to maintain and develop in conditions affected by market factors and new US tariffs.

Le Anh

Source: https://baochinhphu.vn/bai-2-chuong-trinh-ket-noi-ngan-hang-doanh-nghiep-tu-tphcm-nhan-rong-ra-ca-nuoc-102250409153750361.htm