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.
USG Boral adds US$20 million investment
BSR inks crude oil supply agreements with Socar, Glencore
Nestlé Vietnam receives a Sustainable Business title
GoBear Vietnam receives 1 mil online visitors within first year of operation
FPT starts work on university and software park in Can Tho
Amway Vietnam recognized as sustainable business for 2nd time
Lazada to close the year with a bang
Samsung Electronics Viet Nam tops largest firms list
Viet Nam’s 100 most sustainable firms honored
Masan seen buying out Vinacafé Bien Hoa
FPT cooperates with Japan partner to offer tech solutions
VN telecom providers reports positive business results
Vietnamese, Spanish firms attend networking conference
Vietnam Airlines welcomes 200 millionth passenger