HÀ NỘI — The State Bank of Việt Nam (SBV) on Wednesday issued a document guiding commercial banks to implement a credit package, worth VNĐ15 trillion (US$641 million), for businesses in the forestry and fishery sector.
Under Document No 5631, the eligible borrowers of this credit package are firms that have projects or plans to serve production and business activities in forestry and fishery areas.
They will enjoy lending interest rates in đồng which will be at least 1-2 per cent/year lower than the average interest rates offered for short-term, medium-term, and long-term deposits by commercial banks.
The credit package will be implemented until the end of June 30, 2024, according to the document.
In addition, commercial banks will, according to their competence, waive and reduce service fees for customers participating in the programme, by legal regulations and the size of the bank's operations.
State bank launches VNĐ15 trillion credit package to support forestry and fishery businesses
The programme will be implemented by self-mobilised capital from banks and lending under the normal commercial mechanisms.
Up to now, 12 commercial banks have registered to participate in the programme. They are Agribank, BIDV, VietinBank, Vietcombank, LPBank, Sacombank, MB Bank, ACB, Nam A Bank, OCB, Eximbank and SHB.
Previously, Prime Minister Phạm Minh Chính instructed the SBV to study and propose a credit package of VNĐ10 trillion to support businesses producing and processing seafood and forestry products.
The PM asked for measures to help businesses conquer major markets while seeking new markets to boost exports.
He also asked the Ministry of Finance to direct authorised agencies to consider and implement solutions relating to exemptions and also reduce or extend payments of taxes and land and water surface rental fees to support businesses.
The export value declined by 28.2 per cent for main forest products to $6.5 billion over the past six months as European and American consumers tightened their spending and reduced consumption of wood products, resulting in a decline in new orders.
Seafood exports also slumped 27.4 per cent year-on-year to $4.13 billion during the period. Of which, a high decline of 32 per cent in shrimp exports to $1.56 billion and 40 per cent in the tra fish export to $840 million were also recorded in H1-VNS.
Source: vietnamnews
SSI forecasts a 28% year-on-year increase in after-tax profit attributable to the parent company of Vinh Hoan Corporation (VHC), driven by a gradual improvement in average selling prices from USD 3.15/kg in 2024 to USD 3.30/kg (+5%) in 2025. An Giang Fisheries Import-Export Joint Stock Company (ANV)'s after-tax profit attributable to the parent company is projected to rebound by 104%.
In 2025, the Mekong Delta province of Bac Lieu aims to earn 1.2 billion USD from exporting shrimp, one of the key export products that accounts for over 95% of its total export value.
(seafood.vasep.com.vn) The Report on Vietnam Pangasius Sector 2015–2024, produced and released by the Vietnam Association of Seafood Exporters and Producers (VASEP) in January 2025, is expected to provide enterprises, importers, and government agencies with a comprehensive overview of key developments in Vietnam's pangasius production and export over the past decade. In addition to highlighting achievements, the report identifies existing challenges and analyzes future opportunities and threats for the pangasius industry.
(vasep.com.vn) Overcoming two years of fluctuation in both export markets and domestic production, Vietnam's pangasius industry has demonstrated resilience, adaptability, and a strong determination to seize opportunities and boost exports to various markets. As a result, in 2024, pangasius exports reached USD 2 billion, a 9% increase compared to 2023. This achievement is a source of pride for Vietnam's aquaculture and agriculture sectors.
(seafood.vasep.com) Speaking at a conference to implement the 2025 plan of the Ministry of Agriculture and Rural Development, Prime Minister Pham Minh Chinh urged the agricultural sector to strive for a total export turnover of agricultural, forestry, and fishery products reaching $70 billion by 2025.
With robust production and processing infrastructure, combined with continuous market development efforts, Vietnam’s seafood exports are poised for 10–15% growth in 2025.
In 2025, seafood exports are expected to continue to grow better and could reach 11 billion USD as in 2022. However, this is also the year the seafood industry will face challenges, including increased competition from other countries, trade wars and market barriers...
(seafood.vasep.com.vn) On the afternoon of December 25, at Toan Thinh Conference Center (Soc Trang City), the Soc Trang Fisheries Sub-department, under the Department of Agriculture and Rural Development of Soc Trang, held a conference to review the 2024 aquaculture activities and outline the brackish water shrimp farming plan for 2025. The event was attended by Ms. Quach Thi Thanh Binh, Deputy Director of the Department of Agriculture and Rural Development of Soc Trang.
The Mekong Delta province of Soc Trang aims to achieve export value of over 1.9 billion USD in 2025 by boosting production and processing of key products such as seafood, high-quality rice, fruits, and garments.
The UK-Vietnam Free Trade Agreement has significantly boosted Vietnamese seafood exports, with shrimp and pangasius leading the charge in the UK market.
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