Although rice sector credit in the Mekong Delta increased by 18% compared to the end of 2023, investment growth in agriculture is still much lower than in many other sectors.
On November 18, in Can Tho City, People's Representative Newspaper organized a workshop "Promoting credit for key agricultural products, bringing the Mekong Delta to rapid and sustainable development".
Dr. Can Van Luc, economic expert, member of the National Financial and Monetary Policy Advisory Council, said that in the Mekong Delta, the outstanding regional credit balance by September 2024 reached 1.18 million billion VND, of which agricultural and rural outstanding loans accounted for 54%. Although rice sector credit in the Mekong Delta increased by 18% compared to the end of 2023, the growth rate of investment in agriculture is still lower than many other sectors.
A recent announcement by the State Bank of Vietnam (SBV) shows that the implementation of some credit policies for agricultural and rural development has not been as expected. For example, unsecured loans account for only about 20% of outstanding agricultural and rural loans; collateral for loans is low-value agricultural land, constructions on land that are slow to be granted ownership certificates, and difficult to value, are still major obstacles.
"In the coming time, the SBV's guiding viewpoint is on capital sources, to control inflation and ensure system safety, but for agriculture, rural areas and especially the Mekong Delta, there must be no shortage of capital. If commercial banks lack capital, the SBV will have measures to re-finance or have specific forms to support resources" - Mr. Dao Minh Tu, Permanent Deputy Governor of the SBV, emphasized.
At the same time, the State Bank continues to direct credit institutions to review and simplify loan application procedures and collateral, creating favorable conditions for businesses and people to access bank credit capital.
Source: https://nld.com.vn/khong-de-nganh-hang-nong-san-dbscl-thieu-von-196241118203432914.htm
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