VND20 trillion in credits for HCMC’s 2018 market stabilization

Twelve credit institutions participating in the market stabilization program this year have agreed to set aside VND19.65 trillion to make low-interest loans for enterprises.

The Government news website quoted Nguyen Duc Lenh from the central bank’s HCMC branch as saying that the program has attracted three more credit institutions to participate. Total credits registered by the 12 lenders are VND1.48 trillion higher than last year.

Last year’s short-term interest rates for the program ranged from 5.5% to 7% per year.

Regarding development orientations of the 2018 program, Nguyen Huynh Trang, deputy director of the HCMC Department of Industry and Trade, said HCMC will continue to expand the program.

HCMC plans to coordinate with other localities to support enterprises in joining connectivity programs monthly as well as help enterprises expand their sales networks.

Goods supplies in this year’s program, including the 2019 Lunar New Year holiday period, are expected to satisfy 25-40% of market needs and pick up 15-35% from last year’s results, Trang said.

According to the city’s trade department, enterprises participating in the market stabilization programs have always prepared bountiful goods supplies and offers prices which are 5-10% lower than market levels.

The number of selling points of the market stabilization program in HCMC is now 10,602, making it easy for city residents, particularly those working at export processing zones and industrial parks, to buy quality products at reasonable prices.

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