SBV Headquarters (Photo: DK)
For the commercial banks
The commercial banks have been requested to do the following:
Proactively balancing their capital resources to promptly meet the credit needs of individuals and businesses involved in rice production, processing, purchasing, temporary storage, and consumption (both domestic and export) throughout 2025. Special emphasis should be placed on enabling the purchase of rice from the Winter-Spring crop in the Mekong Delta provinces, thereby supporting farmers in re-cultivating new crops. The banks must ensure that individuals and businesses with good business plans, complying fully with the legal requirements, do not face delays or denials in loan access due to cumbersome procedures.
Considering to increase the credit limits and extending the loan terms in accordance with the legal regulations for the enterprises with proven capabilities and experience in purchasing, processing, and exporting rice, as well as those with a warehouse system for temporary rice storage. Facilitating the expansion of medium- and long-term credit to support investment in storage facilities, machinery, processing and preservation equipment, and temporary storage used for rice.
The commercial banks are also required to strictly comply with the directions of the Government, the Prime Minister, and the SBV requesting for further operational cost reductions, enhancing IT application, and adopting other measures to lower the lending interest rates, sharing a portion of their profits to support the people and businesses in accessing the banks’ credit, thereby helping to boost production and business activities, particularly in the rice sector in the Mekong Delta.
Creating favorable conditions for the people and businesses engaged in rice production and trade to access credit with preferential interest rates under the banks’ support programs.
Promoting reforms and simplifying loan procedures and documentation, and collateral requirements to effectively support the seasonal nature of rice production, processing, purchasing, storage, and export.
The SBV further requested the commercial banks to continue promoting the implementation of the credit policy for agricultural and rural development in accordance with Decree No. 55/2015/ND-CP dated June 9, 2015, and Decree No. 116/2018/ND-CP dated September 7, 2018 of the Government, focusing on lending to the models of linkages along the rice value chains, from production to purchasing, processing, storage, and product consumption. Additionally, the banks are also requested to accelerate the implementation of the lending program for the production, processing, and consumption of high-quality, low-emission rice in the Mekong Delta in alignment with the Prime Minister's Decision No. 1490/QD-TTg dated November 27, 2023, and in line with the directions of the SBV's leadership at the Conference on the implementation of the preferential credit program for the one million hectares of high-quality, low-emission rice project in the Mekong Delta held on November 7, 2024, in Dong Thap, as well as the Documents No. 8364/NHNN-TD dated October 11, 2024, No. 288/NHNN-TD dated January 14, 2025, No. 289/NHNN-TD dated January 14, 2025, and No. 961/NHNN-TD dated February 14, 2025 issued by the SBV.
Beside that, it is necessary to promote the Bank–Enterprise Connection events to promptly provide solutions to address any difficulties; cooperating with Vietnam Food Association and Vietnam Rice Industry Association to disseminate the banking sector's credit policies to their member enterprises, enabling them to be informed and apply if needed.
For the SBV Regional Branches No. 13, 14, and 15
The SBV regional branches No. 13, 14, and 15 are requested to instruct the commercial banks’ branches in their areas to implement the contents outlined in Point 1 of this Document. The SBV branches are also requested to collaborate with the local agencies to enhance the implementation of the Bank-Enterprise Connection Program, aiming to promptly address any difficulties and obstacles, thereby enabling traders, businesses, and individuals involved in rice production and trade to access credit resources.
The SBV has further instructed the Chairpersons of the Boards and CEOs of the commercial banks, as well as the Directors of the SBV regional branches No. 13, 14, and 15, to closely monitor the market developments and the lending activities for the rice sector. In case if there are any difficulties or obstacles going beyond their authority, they must promptly report the SBV, the relevant ministries or agencies, and the People's Committees of the provinces and cities in their areas for consideration and resolution.