(HBO) – In the face of the COVID-19 pandemic’s impact on many economic sectors, some commercial banks in Hoa Binh province have decided to extend debt payment deadlines, not charge interest on late payments, and assist people and businesses to access preferential loans to overcome difficulties.
The
Agribank branch in Cao Phong district has created favourable conditions for
clients to take out loans as the COVID-19 outbreak has hampered production and
business activities.
Since the year’s beginning, the COVID-19
outbreak has greatly affected the operation of local enterprises and business
households.
A homestay facility owner in Lac village of Chieng Chau commune, Mai Chau district,
said there are about 60 homestays receiving domestic and foreign visitors in
the village at present. However, the epidemic has forced many of them to shut down
and discouraged tourists to visit here.
Nguyen Anh Tuan, Director of the MBBank’s Hoa
Binh branch, noted it has more than 30 individual clients with loans of about 5
billion VND (211,800 USD) in Hoa Binh. His branch has built plans to support
them. It has also reviewed business borrowers that operate in the fields of
hospitality, transportation and trading of goods with China so as to
provide assistance such as cutting interest rates or extending debt payment
deadlines.
According to the provincial branch of the State
Bank of Vietnam (SBV), outstanding loans in Hoa Binh totaled nearly 22.68
trillion VND through the end of February, rising by just 0.2 percent from late
2019. The sum consists of nearly 9.3 trillion VND in short-term loans and 13.38
trillion VND in medium- and long-term loans, respectively accounting for 41
percent and 59 percent of the total.
Deputy Director of the branch Ngo Quang Loi said
to carry out the SBV’s monetary policy and directions, his branch has instructed
credit organisations to keep track of the production – business situation and
losses of their clients due to COVID-19’s impact, especially sectors vulnerable
to the pandemic like tourism, agriculture and import-export, so as to take
timely measures to help them address difficulties. At the same time, it is also
working to meet the capital demand of feasible production and business plans
and prioritise capital for agriculture and rural development./.
Once a mountainous province facing many challenges, Hoa Binh has, after more than a decade of implementing the national target programme on new-style rural area development, emerged as a bright spot in Vietnam’s northern midland and mountainous region. In the first quarter of 2025, the province recorded positive results, paving the way for Hoa Binh to enter a phase of accelerated growth with a proactive and confident mindset.
Hoa Binh province is steadily advancing its agricultural sector through the adoption of high-tech solutions, seen as a sustainable path for long-term development.
The steering committee for key projects of Hoa Binh province convened on May 14 to assess the progress of major ongoing developments
A delegation of Hoa Binh province has attended the "Meet Korea 2025" event, recently held by the Ministry of Foreign Affairs, the Embassy of the Republic of Korea (RoK) in Vietnam, the Korea Trade-Investment Promotion Agency, and the People's Committee of Hung Yen province.
Hoa Binh province joined Vietnam’s national "One Commune, One Product” (OCOP) programme in 2019, not simply as a mountainous region following central policy, but with a clear vision to revive the cultural and agricultural values in its villages and crops.
From just 16 certified products in its inaugural year to 158 by early 2025, the One Commune One Product (OCOP) programme in Hoa Binh province has followed a steady and strategic path. But beyond the numbers, it has reawakened local heritage, turning oranges, bamboo shoots, brocade, and herbal remedies into branded, market-ready goods - and, more profoundly, transformed how local communities value and present their own cultural identity.
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