Supporting the private economy

Recognizing the role and potential of the private economic sector, banks in Khanh Hoa province have been actively implementing many solutions to accompany and support private enterprises in developing through preferential credit policies, reducing interest rates, reforming loan procedures, or implementing specialized credit programs.

Financial support for enterprises

One of the tasks and solutions to effectively implement Resolution No. 68 dated May 4, 2025 of the Politburo on private economic development is to promote and diversify capital sources for the private economy. Resolution No. 68 encourages banks to become strategic partners of enterprises, creating conditions for enterprises to access capital, digital transformation and sustainable development. Therefore, local bank branches have been actively implementing many solutions to accompany and support private enterprises in developing through preferential credit policies, interest rate reduction, reform of loan procedures and implementation of specialized credit programs. For example, Agribank has just launched the incentive program "Breakthrough transformation - Elevating enterprises" to accompany and support individual business households in transforming their operating models and improving their competitiveness. The program takes place from now until July 15, 2026, for business households converting to enterprises and enterprises opening payment accounts for the first time at Agribank with incentives such as: Free account management, free electronic banking services (Agribank Corporate eBanking), free 1POS Sales Management Solution package and Invoice Electronic Invoice Solution to help units improve operational efficiency and more modern financial management. In addition, small and medium-sized enterprises can borrow capital at preferential interest rates reduced from 0.8% to 1.2%/year compared to the normal lending interest rate. Previously, Agribank implemented a program with a scale of 60,000 billion VND of short-term preferential capital with interest rates lower than the normal lending interest rate floor up to 1.2%/year for small and medium-sized enterprises.

Customers transact at a bank branch in the province.

Not only state-owned banks, joint-stock commercial banks also quickly contributed to realizing the spirit of Resolution No. 68 with specific policies. Tu Tien Phat - General Director of Asia Commercial Joint Stock Bank (ACB) said that as soon as Resolution No. 68 was issued, ACB announced a series of special policies to contribute to the implementation of the resolution revolving around 4 issues: Capital sources, digital transformation, market expansion and sustainable development. Accordingly, ACB deployed a total support package of 40,000 billion VND, of which 20,000 billion VND is reserved for small and medium enterprises; 20,000 billion VND is reserved for large enterprises investing in infrastructure and digital technology to promote chain credit. Preferential interest rates are 2% or more lower than normal interest rates. Along with that, ACB provides payment solutions to help enterprises and business households easily manage their business and optimize finances; connect enterprises and business households with more than 8 million potential customers through meetings, connections and providing free promotional solutions on ACB's digital banking channel; consulting, providing credit and accompanying enterprises in green transformation and sustainable development activities.

Prioritizing capital sources for private enterprises

Recently, banks have proactively created conditions for private enterprises to access credit sources. Statistics from the State Bank of Vietnam (SBV) Branch Region 10 show that, as of the end of June 2025, credit for small and medium enterprises in Khanh Hoa province reached an outstanding debt of VND 29,514 billion; credit for the export sector reached VND 7,872 billion; credit for the supporting industry sector reached VND 1,776 billion; credit for high-tech enterprises reached VND 380 billion. Credit institutions in the area continue to actively promote the implementation of the Bank - Enterprise Connection Program. Through the program, many enterprises have access to the SBV's policy to remove difficulties and credit sources with preferential interest rates. By the end of June, credit institutions in the province had disbursed nearly VND 1,841 billion, outstanding loans for the bank-enterprise connection program reached VND 1,593 billion with 225 customers. In the first 6 months of the year, banks in the province organized 18 signing ceremonies and dialogues with enterprises.

Khanh Hoa Young Entrepreneurs Association signs a cooperation agreement with the Military Commercial Joint Stock Bank, Khanh Hoa Branch.

Bui Huy Tho - Director of SBV Region 10 said that SBV has issued the Action Plan of the Banking sector to implement Resolution No. 68 and Resolution No. 138 dated May 16, 2025 of the Government on private economic development. In Region 10, SBV Branch has directed credit institutions to disseminate Resolution No. 68, Resolution No. 138 and the SBV Action Plan to each officer, employee and worker to raise awareness of the importance of implementing the resolutions to contribute to supporting the rapid and sustainable development of the private economy. At the same time, the State Bank of Region 10 actively and resolutely directed credit institutions to prioritize capital sources for private enterprises, especially small and medium enterprises, supporting industry enterprises, and innovative startups to borrow capital to invest in machinery, equipment, new technology, green transformation, digital transformation, export credit, and supply chain credit. At the same time, the State Bank of Region 10 encouraged credit institutions to increase capital funding for enterprises and business households according to value chains, supply chains, digital transformation, and export credit, and to lend based on production and business plans and plans to expand output markets; lending according to value chains, supply chains, lending based on payment data, cash flow, intangible assets, future assets, etc.

In the context that the whole country has more than 940,000 private enterprises and more than 5 million business households in operation, accounting for more than 97% of the total number of enterprises, contributing about 50% of GDP, more than 30% of total state budget revenue and creating jobs for millions of workers, the banking sector identifies the role of credit institutions as not only providing credit but also being a long-term partner, loyally attached to enterprises for sustainable development.

Nguyen Quang Duy - Permanent Vice Chairman of the Provincial Young Entrepreneurs Association, General Director of DT Group said: The private economy is an important driving force, contributing greatly to GDP and creating jobs, especially in key industries such as tourism, marine economy, high-tech agriculture. For sustainable development, this sector needs a transparent business environment and stable capital from banks. In recent times, banks have played a "lifeline" role in providing capital, supporting businesses to invest in expanding production, innovating technology, seizing market opportunities and improving competitiveness. Preferential credit packages for agriculture, marine economy, logistics, etc. are helping local businesses increase their resilience. In order for the spirit of Resolution No. 68 to truly come to life, banks need to design credit products that are close to the reality of the industry and build an ecosystem connecting banks - businesses - associations - authorities. In the new period, Khanh Hoa businesses should focus on advantageous industries, apply technology, develop green and make the most of the companionship of banks to make breakthroughs, contributing to the strong development of the province's economy.

Hoang Dung

Translated by T.T