BIDV offers assistance to individual customers amidst coronavirus outbreakThursday, February 20,2020
AsemconnectVietnam - The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has announced a credit package worth 5 trillion VND (215 million USD) for its individual customers hurt by the acute respiratory disease caused by a novel coronavirus (COVID-19).
The capital is prioritised for customers operating in the fields of agriculture, export and tourism.
Customers are able to take BIDV loans for production and trading of agricultural products such as dragon fruit, watermelon, jack fruit and banana as well as several aquatic products like tra, basa and cat fish.
The package also includes support for operators of restaurants and hotels, while aiding those with trade activities with China.
Under the package, customers will enjoy a stable annual interest rate of 5.5 percent in a maximum four months since the first disbursement.
The epidemic could cause losses of 5.9-7.7 billion USD for the domestic tourism sector in the next three months, according to the Vietnam National Administration of Tourism (VNAT).
The tourism sector has estimated a 90 percent decrease in the number of Chinese visitors due to the disease, and a 50-70 percent drop in holidaymakers from other countries. The number of domestic holidaymakers is also likely to suffer a fall of 50-70 percent.
Besides, the country could lose up to 600 million USD of exports to China in the first quarter of 2020, the Ministry of Industry and Trade has warned.
In a forecast in the first regular cabinet meeting of the year, the ministry said it expected that exports to China in the first quarter could drop by 5-8 per cent compared to the same period last year. Such an estimate would involve the ongoing epidemic being put under control in less than three months since it began in late January.
Tuong An Vegetable Oil achieved 22% profit growth in the first quarter of 2020
Garment 10 to produce medical face masks, first export order worth US$52m
Kidofoods (KDF) moved the distribution system, Q1 profit increased by nearly 16%
Phuoc Hoa Rubber (PHR): Q1/2020 profit increases by nearly 160% quarter on quarter
PV Power marks impressive milestone of 200 billion kWh
Vietravel Airlines project given go-ahead
Beer enterprises plan to reduce profits sharply
PetroVietnam’s crude oil production surpasses target in Q1
Danang Rubber (DRC) set business plan in 2020
16,000 businesses still need Ministry of Finance rescue
Vicostone (VCS) estimated profit after tax increasing by 16.66 percent in Q1/2020
Profit of Ca Mau Fertilizer higher than plan in Q1/2020
Singaporean firm wants to up stake in Vinamilk
Many firms optimistic about business in Q2