Lower interest rate loans for exported sectors
(vasep.com.vn) The Department of Agriculture, Forestry, Fishery and Salt Industry, under Vietnam Ministry of Agriculture and Rural Development (MARD), asked the government to reduce loans' interest rate for borrowers from the exported sectors from 11.5 percent to 5 – 6 percent per year.
The objective is to encourage businesses to invest in new and modern technologies in the production chain of value-added products.
It is also necessary to offer loans with interest rate of around 9 percent per year to help companies purchase raw material for processing to export, especially businesses in rice, coffee and fish sectors. Banks should restructure debts of processors and exporters, which have good business plan, in order to offer them new loans to keep their operations.
The fishery industry is Vietnam's key economic sector. However, foreign markets for exported shrimp, pangasius and marine products are showing a lot of risks in 2014. Therefore, Vietnamese companies needs more loans with preferential interest rate to invest in high value products, raising their competitiveness and opening new markets.