Do not let the agricultural sector in the Mekong Delta lack capital

Although rice industry credit in the Mekong Delta increased by 18% compared to the end of 2023, investment growth in agriculture is still much lower than in many other industries.

On November 18, in Can Tho City, the People's Representative Newspaper organized a workshop on "Promoting credit for key agricultural products, bringing the Mekong Delta to rapid and sustainable development".

Dr. Can Van Luc, economic expert, member of the National Financial and Monetary Policy Advisory Council, said that in the Mekong Delta, the regional credit balance by September 2024 reached 1.18 million billion VND, of which agricultural and rural credit balance accounted for 54%. Although rice sector credit in the Mekong Delta increased by 18% compared to the end of 2023, the investment growth rate in agriculture is still lower than in many other sectors.

The recent announcement of the State Bank (SBV) shows that the implementation of some credit policies for agricultural and rural development has not been as expected. For example, loans without collateral only account for about 20% of outstanding agricultural and rural loans; collateral for loans is low-value agricultural land, construction works on land are slow to be granted ownership certificates, difficult to value, and are still major obstacles.

"In the coming time, the SBV's guiding viewpoint is on capital sources, to control inflation and ensure system safety, but for agriculture, rural areas and especially the Mekong Delta, there must be no shortage of capital. If commercial banks lack capital, the SBV will have measures to refinance or have specific forms to support resources" - Mr. Dao Minh Tu, Permanent Deputy Governor of the SBV, emphasized.

At the same time, the State Bank continues to direct credit institutions to review and simplify loan application procedures and collateral, creating favorable conditions for businesses and people to access bank credit capital.

Source: https://nld.com.vn/khong-de-nganh-hang-nong-san-dbscl-thieu-von-196241118203432914.htm