Ho Chi Minh people committee said as many as 4,200 enterprises in the city have accessed banks’ soft loans with interest rates from 13-15% per year.

The total outstanding loans to 4 preferential sectors under the State Bank of Vietnam (SBV), the country’s central bank, circular 14 were estimated at VND25.24 trillion, including VND13.98 trillion to SMEs, VND3.25 trillion to exporters, VND4.454 trillion to supporting industry and VND3.558 trillion to agriculture and rural businesses.

The committee said the inventory of businesses in the city rose to 26% versus 15.9% in the same period last year, showing that businesses are still faceting difficulties.

However, the city’s chairman Le Hoang Quan confirmed that the city will not adjust down economic growth target but instead it will focus on removing obstacles for business to boost production and will take different measures to boost consumption.

Source StoxPlus