Ho Chi Minh City Business Association partners to support preferential interest rate loans for businesses

DNHN - Ho Chi Minh City Business Association will be responsible for screening and introducing potential businesses that meet the conditions for borrowing capital from Ho Chi Minh City State Treasury Investment Company.

Ho Chi Minh City State Treasury Investment Company (HFIC) and Ho Chi Minh City Business Association (HUBA) signed a cooperation agreement on February 19 to support preferential interest rate loans for businesses. Under this agreement, HUBA will be responsible for screening and introducing potential businesses that meet the conditions for borrowing capital from HFIC. Meanwhile, HFIC will receive information about the borrowing needs of businesses and consider providing capital following regulations. Both parties are committed to making every effort to implement the contents of this agreement while exchanging information and cooperating closely in related activities.

Mr Nguyen Ngoc Hoa, Chairman of the Board of Members of Ho Chi Minh City State Treasury Investment Company, shared at the ceremony that the city has implemented the investment stimulus programme for the past 20 years, but was interrupted in 2020. The restart of this programme and the signing of the cooperation between HFIC and HUBA will help businesses access and participate in the interest rate support programme from the promotion and consulting stage. HFIC is committed to guiding businesses under HUBA in completing loan application files and procedures to implement investment projects quickly.

In its development strategy for the coming period, HFIC will focus on investing heavily in the city’s key sectors, including economic and social infrastructure such as transportation, energy and environmental treatment; the city’s key and supporting industries; logistics development projects; healthcare, education, science and technology; residential and urban infrastructure; and projects participating in the smart city development programme and the city’s digital transformation programme.

Mr Nguyen Quang Thanh, Deputy General Director of HFIC, added that if the projects align with the city’s goals, they will receive loan support of up to VND 200 billion over 7 years. The restart of this programme will create favourable conditions for businesses to continue developing.

The cooperation between HFIC and HUBA in investing in key socio-economic sectors aims to enhance the effectiveness of projects and improve the investment environment in the city, which is not only the goal of HFIC and HUBA but also the common goal of the city. At the same time, the development and promotion of a circular economy to contribute to the goal of sustainable development and the implementation of the city’s breakthrough and key programmes has been emphasised in the Resolution of the 11th City Party Congress, for the 2020-2025 term.

PV