VietinBank to earmark VND10 trillion loans for supporting industriesThursday, April 20,2017
AsemconnectVietnam - VietinBank signed an agreement with the HCMC Department of Industry and Trade to launch a lending program totaling VND10 trillion (US$439.7 million) for manufacturing enterprises and those in supporting industries in the city.
The signing took place at a conference on introduction of incentive policy for supporting industries held by the HCMC Department of Industry and Trade on April 18.
The credit program is aimed at encouraging firms to upgrade equipment, improve productivity and add more value to their products, and promoting manufacturing and supporting industries.
The Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) will lend to investors whose projects belong to priority manufacturing and supporting industries, with the city government covering interest payments up to 100% or a maximum of VND200 billion per project.
For projects requiring loan interest support of more than VND200 billion or interest support duration of more than seven years, the city will consider them on a case-by-case basis.
Nguyen Hoang Dung, deputy general director of VietinBank, said the VND10 trillion credit program could be increased if demand is greater than expected.
VietinBank said its branch directors would work with the Department of Industry and Trade to carefully evaluate borrowing projects.
The HCMC Department of Industry and Trade also took the occasion to launch a website at https://csid.gov.vn/ where a database on supporting industries is made available.
Vietnam’s top 500 best growing, prosperous firms publicised
Over 200 firms participate in HVACR VN 2018
KIDO to further boost M&A deals
Vinalines to continue downsizing shipping fleet in 2018
Vingroup gets US$1.3 billion from Singaporean firm
73 enterprises to get National Quality Awards 2017
FLC to upgrade Dong Hoi Airport
TNG Investment and Trading Joint Stock Company
Amway gets Golden Dragon Award
Vietnam Airlines receives 12th Airbus A350
Vietnam Airlines named among Vietnam’s top 10 sustainable businesses
Vissan aims high for pre-tax profit
IPP Group to pour $440 million into Van Don SAEZ
54 excellent estate businesses, projects honoured