(HBO) - The provincial Business Association and the State Bank of Vietnam's Branch in Hoa Binh province hold a meeting on August 5 to discuss solutions to remove difficulties for businesses affected by the COVID-19 epidemic.
Photo: Representatives of the provincial Business
Association suggested the implementation of preferential credit policies to
support businesses to overcome difficulties.
At the meeting, representatives of the provincial Business Association and
enterprises agreed that given complicated developments of the COVID-19
pandemic, companies face a lot of challenges. Many enterprises had to suspend
operations.
Enterprises proposed a number of recommendations to remove difficulties,
including increasing debt restructuring time, expanding the list of
beneficiaries of incentives for extension, postponement, and reduction of
interest rates for enterprises operating in the fields of investment,
construction and real estate.
It was necessary to consider reducing the interest rates to the maximum level
for all loans at banks as currently, some banks have reduced while others have
reduced a little or not yet doing so. The guarantee fees and loan commitment
fees should also be lowered. There should be a flexible mechanism in medium and
long-term loans secured by assets formed in the future.
The collaterals at banks as real estates should be re-evaluated to be relevant
to the market so that enterprises have the opportunity to borrow more capital
while administrative procedures should be simplified to facilitate businesses
access to the 26-trillion VND support package, the businessespeople said.
They asked for the removal of collaterals for loans for construction works
funded by public investment capital when a decision on capital allocation has
been made. The implementation of activities to support businesses affected by
the COVID-19 pandemic should be sped up, they added.
Leaders of the State Bank of Vietnam (SBV)’s Branch in Hoa Binh province
exchanged and shared difficulties that businesses were facing and received
suggestions to study and report to the SBV for solutions to solve their
problems.
In the coming time, the SBV will continue to direct commercial banks and credit
institutions to effectively implement activities to support businesses affected
by the COVID-19 pandemic and organise a signing ceremony on coordination
regulations between the SBV’s Branch in Hoa Binh and the provincial Businesses
Association to ease difficulties for enterprises.
Dao Village’s honey – a product certified with a 3-star OCOP (One Commune One Product) rating by Thong Nhat Agricultural Cooperative in Dao Village (Hoa Binh City) – is highly regarded by consumers for its quality, richness, and variety in packaging. The distinctively sweet taste of Dao Village’s honey leaves a lasting impression on anyone who has tried it.
In alignment with Project No. 07-DA/TU, issued by the Hoa Binh provincial Party Committee on November 1, 2021, Lac Thuy district has actively promoted investment and supported the sustainable development of its industrial and handicraft sectors during the 2021–2025 period. Alongside this, the district has remained committed to preserving and revitalising traditional craft villages.
Located in the northern part of Lac Thuy district, with a temperate climate and fertile soil, Phu Thanh commune has great potential and advantages in growing tea. The long-standing experience, combined with strict adherence to organic farming practices in the tea gardens, ensures that the dried tea products from Phu Thanh and Lac Thuy as a whole are sold out immediately upon production, providing a stable and prosperous life for the local people.
Amid efforts to streamline the administrative apparatus, Hoa Binh province has intensified measures to address challenges in land clearance, resettlement support, and infrastructure investment, aiming to speed up the progress of key projects.
Hoa Binh province has posted an unprecedented economic growth rate of 12.76% in the first quarter of 2025, marking its highest quarterly performance to date and positioning it as the second fastest-growing locality in the country, trailing only Bac Giang province.
Under current regulations, products in the One Commune – One Product (OCOP) programme that are rated three stars or higher must undergo re-evaluation every three months. However, in reality, some of these products fail to consistently meet the required standards, raising concerns about the sustainability of their OCOP certification. This underscores the urgent need for producers to enhance product quality and gradually develop their OCOP products into strong, marketable brands.
