The program is launched by the municipal Department of Industry and Trade and the Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank).
The programme encourages local firms to renovate equipment, enhance production capacity to replace imports and add value to their products.
According to a VietinBank representative, the programme has provided loans for industry and support industry projects at soft interest rates from April 14, 2017.
In addition, the city’s Centre of Supporting Industries Development and VietinBank’s HCM City branch will offer consultations to enterprises during the programme.
The support industry has been one of key sectors priotised for development by the Government, with Vietnam’s economy moving toward deeper international integration through various trade deals.