Therefore, voters in Ho Chi Minh City proposed that the Government direct ministries and central agencies to focus on dismantling, so that businesses can soon access support capital to restore production and business.

Regarding this issue, the State Bank of Vietnam replied to voters in Ho Chi Minh City as follows:

Recently, implementing Resolution No. 43/2022/QH15 of the National Assembly, the Government issued Resolution No. 11/NQ-CP dated January 30, 2022 directing ministries, branches and localities to focus on synchronously implementing solutions to the program of socio-economic recovery and development.

Following the policy of the National Assembly and the Government, the State Bank of Vietnam (SBV) as the state management agency in monetary and banking activities has also urgently implemented many solutions in the whole industry. In order to maintain a stable business environment, contributing to creating favorable conditions for people and businesses to restore and develop production and business activities (including enterprises in Ho Chi Minh City), specifically:

- The State Bank has flexibly, proactively and synchronously operated monetary policy tools, closely coordinated with fiscal policy and other macro policies to control inflation according to the target, stabilize the market of currency and foreign exchange, ready to provide sufficient and timely capital for the process of socio-economic recovery and development;

- Refinancing to the Bank for Social Policies to provide loans to employers to pay wages for job stoppage, pay wages to restore production to employees;

- The State Bank of Vietnam directs credit institutions (CIs) to grow credit safely and effectively, directing credit capital flows into production and business fields, priority fields according to the Government's policy; strictly control credit in potentially risky areas; continue to remove difficulties and support customers affected by the COVID-19 epidemic;

- Continue to vigorously and extensively implement the program to connect banks - businesses in order to promptly remove difficulties and obstacles in accessing bank credit capital;

- Directing credit institutions to implement solutions to create favorable conditions for customers in accessing credit capital; diversify banking products and services, simplify lending procedures, publicly and transparently list loan procedures and processes; Free and reduced payment service fees...

The 2% interest rate support policy is aimed at customers who have the ability to recover

Regarding the policy of supporting 2% interest rate from the state budget (state budget) implemented through the commercial banking system (commercial banks) for loans of enterprises, cooperatives and business households in a number of industries and fields area:

The State Bank has submitted to the Government for promulgation Decree 31/2022/ND-CP dated May 20, 2022 on interest rate support from the State budget for loans of enterprises, cooperatives and business households; issued Circular No. 03/2022/TT-NHNN dated May 20, 2022 guiding and directing commercial banks to register interest rate support plans and implement them internally.

Actively organize the whole banking industry conference; National online conference of the Prime Minister, Ministries, branches, localities and commercial banks to thoroughly understand and widely disseminate information about interest rate support policies to the entire commercial banking system and each locality.

On the basis of registration of commercial banks, the State Bank has sent a document to the Ministry of Planning and Investment and the Ministry of Finance to carry out the procedures to submit to the competent authorities for allowing additional estimates of expenditures for investment and development of the state budget to support interest rates in the year 202, arranging the state budget estimate in 2023; At the same time, there is an announcement of the expected interest rate support limit in 2022 for each commercial bank to quickly implement the program.

The policy of interest rate support according to Decree 31/2022/ND-CP is a policy to use the state budget on a large scale deployed through the commercial banking system, all loans must meet normal credit conditions, for beneficiaries are customers who are able to repay debts, have the ability to recover in accordance with the spirit of Resolution No. 43/2022/QH15 of the National Assembly, the source of loan money is money mobilized from the people, from the economy. Therefore, banks still have to identify the right subjects, appraise and decide to lend in accordance with regulations.

Group of preferential lending policies through VBSP

The State Bank has submitted to the Government for promulgation Decree No. 28/2022/ND-CP dated April 26, 2022 on preferential credit policies for the implementation of the national target program (National Target) for socio-economic development in the lowland areas. ethnic minorities and mountainous areas in the period from 2021 to 2030, phase 1: From 2021 to 2025.

The Vietnam Bank for Social Policies (VBSP) has developed and approved by the Prime Minister a scheme on issuing government-guaranteed bonds to implement the Program in 2022, of which for lending under Resolution 11 is 19,000 billion VND.

Based on capital needs, VBSP has assigned plans to loan programs with beneficiaries being enterprises, including: (i) Loan program to support job creation VND 7,000 billion (disbursed VND 6,938 billion); (ii) loans to non-public preschools and primary schools are 313 billion VND (disbursed 159 billion VND).

The implementation of lending to businesses under the Socio-economic Development and Recovery Program at VBSP has been carried out rapidly. Particularly for the National Target Program on socio-economic development in ethnic minority areas, VBSP has not yet been able to provide loans due to insufficient guidance from ministries, sectors and some provinces that have not yet approved the Scheme for loan for the Program.

Thus, businesses, cooperatives, and business households can learn and work with credit institutions in Ho Chi Minh City to receive support in considering reducing loan interest and enjoying support policies of the Government, the State Bank and separate policy for each credit institution.

Solutions to support businesses in Ho Chi Minh City

The banking industry in the area has implemented solutions to support businesses such as actively implementing credit programs for priority areas, programs to remove difficulties for businesses affected by the COVID-19 epidemic; at the same time, regularly capture information to reflect and support businesses through the hotline / email / business dialogue network of the City government with businesses and participate in dialogue conferences organized by the ward/district, ensuring transparency and effective implementation supervision in the implementation of mechanisms and policies of credit institutions for people and businesses.

As a result, by June 30, 2022, credit in the area increased by 10.02% compared to the end of 2021, the highest growth rate compared to the same period in the last 3 years, higher than the overall rate of the whole system, in line with the recovery trend of the economy in general and the city in particular. Some of the results are as follows:

(i) Restructuring the repayment term to reach VND 87,337 billion for 418,808 customers; exemption and reduction of interest reached VND 4,274 billion for 138,264 customers; new loans reached VND 455,152 billion for 713,170 customers;

(ii) Directly removing difficulties for businesses reflected through departments, districts and business associations (handled 934/941 cases);

(iii) Support for businesses in the area through organizing the implementation of the program to connect banks - businesses with the amount of VND 305,941 billion for 24,170 customers;

(iv) Loans to employers to pay wages to stop working, pay wages to restore production through the The Vietnam Bank for Social Policies, outstanding loans reached VND 659 billion with 172 outstanding customers.

In the coming time, the banking sector in the area will continue to implement credit programs, 2% interest rate support programs, work to remove difficulties for businesses, ... business and economic recovery in the area.