SBV provides hi-tech farming credit package with many incentives

The State Bank of Vietnam (SBV) on Tuesday decided to provide a credit package for hi-tech applied and clean agriculture with lot of incentives.

Hi-tech farming without soil at Kien Tuong agricultural company (Photo: SGGP)

Hi-tech farming without soil at Kien Tuong agricultural company (Photo: SGGP)

According to a loaning program, in accordance with a Government resolution to develop hi-tech farming, borrowers comprise legal entities and individuals in need of funds to implement hi-tech projects.
Norms on hi-tech projects are stipulated at Decision 738 by the Ministry of Agriculture and Rural Development in March.
Commercial banks will provides short, medium and long term loans in Vietnamese dong with the interest rate 0.5-1.5 percent lower than annual normal rate for the same terms of the banks.
Mortgage item will be negotiated by customers and the banks and customers can use properties built from the loans they get under the program for collaterals.
In case customers meeting with difficulties in paying debts because of objective and majeure reasons, commercial banks will consider restructuring payment deadline to suit customers’ payment ability.
When restructuring the payment time, creditors will provide those having feasible production and trading projects with new loans.
Basing on their current regulations and financial capability, lenders will consider other assistance measures to help customers remedy difficulties and restore production and trading. For instance interest and overdue interest payment will be exempt or reduced and banks will reclaim original debts first and interest debt later.

By HAM YEN – Translated by Hai Mien

Other news

Most view

Storm Son Tinh to weaken into tropical low-pressure on July 19

Storm Son Tinh to weaken into tropical low-pressure on July 19

According to the national center for Hydro Meteorological Forecasting, the 3rd storm  Son Tinh at 16pm July 18 centered at 18.8 degrees latitude, 107.5 degrees east longitude, on the Tokin Gulf, 190km from Thanh Hoa to Quang Binh provinces.


VNPT & SeABank cooperate to enhance connections

The Vietnam Posts and Telecommunications Group (VNPT) and SeABank just co-signed cooperation agreement, aiming to develop the two sides’ economic, business and investment potential.


Vocarimex plans to expand export markets

The Vietnam Vegetable Oil Industry Corporation -Vocarimex (code: VOC) has set its target the 2018 revenue will reach VND 4,8trillion, an increasing of 9 percent compared to 2017 and pre-tax profit target will be VND 300 billlion ($ 13 million), dividend payment ratio at 12 percent.


Self - introduction

VNPT targets to be leading digital service provider in Vietnam

The grand opening ceremony of the VNPT-Information Technology Company (VNPT-IT), a new member of the Vietnam Posts and Telecommunications Group (VNPT), was held yesterday in Hanoi. With thousands of IT engineers and the focus on developing state-of-the-art technological products related to Artificial Intelligence (AI), Bigdata, and Blockchain, the new company is considered the main force to help VNPT fulfill the goal of becoming a leading digital service provider in Vietnam and an important Digital Hub of the neighborhood as well as the world.

Stock market

BLF & LUT fined VND 145mln

The State Securities Commission of Vietnam (SSC) has just issued administrative fines worth VND 145 million to Bac Lieu Seafood Corp (BLF) and Luong Tai Investment & Construction Corp (LUT).