Bank loans in low demand
Cash-starved businesses have refrained from accessing bank loans while others have even canceled their loan requests despite reduced interest rates Interest rates still high The food industry is performing better than labor-intensive sectors such as wood, apparel and footwear. Even though food is
In vicious cycle
The disbursement of the VND120-trillion credit package has been much slower than expected, with very few applicants since its launch over a month ago. Many housing developers are not eligible to access loans, while numerous new projects are still on the way to getting their legal procedures
Around 100 projects eligible for VND120-trillion credit package
HCMC – Around 100 projects have been found eligible for soft loans in the VND120-trillion credit package since it was rolled out one month ago. Speaking at a National Assembly discussion yesterday of the nation’s socio-economic performance this year, Minister of Construction Nguyen Thanh Nghi
VND120-trillion package not for real estate rescue: Deputy PM
HCMC – The VND120-trillion credit package is not intended to rescue the struggling real estate sector but to achieve the target of building at least one million social homes by 2030, Deputy Prime Minister Tran Hong Ha said at a meeting held yesterday, May 24. The package is designed to support
High interest rate makes social home loans unattractive
HCMC – The high interest rate discourages eligible individuals from taking out loans to buy social homes, according to a recent survey of HCMC residents. Four major State-owned commercial banks – Agribank, BIDV, Vietcombank and VietinBank – have been entrusted by the central bank SBV to make soft
Agribank offers VND30-trillion credit line for homebuyers, developers
HCMC – The Vietnam Bank for Agriculture and Rural Development, or Agribank, has rolled out a VND30-trillion credit line for social housing investors and homebuyers, applicable from now until June 30 of this year. The interest rate is 8.7% per year for investors and 8.2% per year for homebuyers,
VND120 trillion credit package for social housing to be rolled out
HCMC – The Government has assigned the State Bank of Vietnam (SBV) to implement a credit package of VND120,000 billion for developing homes for the poor and workers, and renovating or re-building aging apartment blocks. The SBV, the country’s central bank, was tasked with directing commercial
Two huge credit packages are good news for struggling real estate sector
HCMC – Struggling with difficult access to bank loans, the real estate sector has got good news that two major credit packages totaling VND230 trillion would be launched after Prime Minister Pham Minh Chinh met with real estate businesses on Friday. At a hybrid conference on solutions to pull the
VND110-trillion social housing credit package proposed
HCMC – The Ministry of Construction has proposed a social housing stimulus package worth VND110 trillion to house tenants, buyers and developers. The ministry has yet to give details on the allocation of the package, but it said the package should be similar to the VND30-trillion credit package