Since early March, the HCM City Department of Planning and Investment has received 34 applications asking for loans under the government’s stimulus program. Sixteen have been approved.

Among the 34 requests for subsidized loans, 14 were industrial manufacturers, two housing and warehouse developments, seven medical and eight educational development projects, with a total of investment of VND4.6 trillion (US$227 million)

The total amount of loans sought totaled VND2.3 trillion (US$ 130 million)

Sixteen projects, with a total investment of VND2.9 trillion (US$ 160 million) have been approved, with loans totaling VND1.7 trillion (US$94 million).

In related news, May 14, the city’s People’s Committee proposed the government to instruct the Ministry of Police and the Central Bank to conduct investigations on individuals who have printed counterfeit banknotes.

The committee also proposed the government to direct the Ministry of Industry and Trade to amend the regulations on peak electricity hours.

The committee wants to see peak electricity hours during the day cut and peaks at night extended.

The present peak electricity hours fixed by the Ministry of Industry and Trade are between 9:30am to 11:30am and from 5pm to 8pm.

The cost of one kilowatt in daytime peak hours is VND1,830, twice as much as that in off-peak hours.

The proposal is seen as a measure to help businesses reduce production costs. 

By Huong Quynh – Translated by Phuong Lan