Credit "pumped" directly into production: Capital goes in the right direction, economic recovery is certain

VTV.vn - Bank capital continues to flow strongly, focusing 78% on production and business, showing economic recovery and the effectiveness of credit management orientation in recent times.

Credit recovers strongly

Credit across the Vietnamese banking system has recorded an impressive growth rate of 13.4% compared to the end of 2024. This is a bright spot in the economic picture in the first nine months of the year, reflecting the strong recovery of capital demand and the effectiveness of monetary policy management solutions.

At the recent regular Government press conference in September, Deputy Governor of the State Bank of Vietnam (SBV) Doan Thai Son said that the total outstanding credit balance of the entire system had reached VND 17.41 trillion as of September 29, 2025. The most notable thing is that the direction of capital flow regulation has been implemented in a drastic and clear manner: about 78% of credit capital is focused on production and business sectors, affirming the pivotal role of credit in supporting the sustainable growth drivers of the economy.

The adjustment of credit structure by economic sector shows flexibility, closely following the characteristics of the Vietnamese economy. According to the State Bank of Vietnam (SBV), the proportion of credit for the trade and service sector accounts for 69.8% (up from 67.51% in the same period last year), reflecting the recovery and acceleration trend of consumption, retail and tourism . Meanwhile, industry and construction account for 23.97% and agriculture, forestry and fishery account for 6.23%. Despite fluctuations compared to the same period, the general trend is still even growth, especially the strong contribution of the service sector. Deputy Governor Doan Thai Son affirmed that despite cyclical fluctuations, credit still grows appropriately, contributing to supporting the economy in the context of the Government focusing on promoting public investment, consumption and production.

About 78% of credit capital is focused on production and business sectors.

According to economist Dr. Nguyen Tri Hieu, the credit growth rate has achieved very positive results, reflecting the confidence of the capital market and the improvement of economic activities. However, to maintain this growth momentum, it is necessary to strictly control credit risks, avoid excessive capital concentration in industries with strong fluctuations such as real estate or retail, and at the same time promote green credit and for small and medium enterprises to spread the effectiveness of sustainable development.

Prioritize capital for production, creating momentum for green and sustainable growth

A notable point in the cash flow picture is that credit capital flows not only stop at general economic sectors but also go deep into key sectors in the national supply chain and sectors that create high added value.

In particular, agriculture – the pillar of the economy – continues to be given special priority. By the end of August 2025, outstanding loans for this sector reached about VND 3.9 million billion, accounting for 22.6% of total credit. Along with that, efforts to support small and medium enterprises (SMEs) – a force accounting for more than 90% of the number of enterprises nationwide – are demonstrated by outstanding loans reaching VND 3.3 million billion, equivalent to 19.04% of total outstanding loans. This is a clear demonstration of the banking industry's commitment to supporting the core production sectors of the economy.

In particular, capital flows are also directed towards industries with high innovation and added value, recording impressive credit growth. Credit for technology and supporting industries increased by 23.4%. Credit for high-tech enterprises increased by 25.14% compared to the end of 2024.

These figures show that credit is acting as a lever to promote economic restructuring, towards a growth model based on science and technology.

With a clear orientation of "capital flowing to the right place, to the right people", credit has become an important lever to help restore growth.

Many key credit programs have also been vigorously implemented to solve urgent problems. For example, the implementation of the 2% interest rate support package from the state budget for enterprises, cooperatives, and business households continues to be maintained, not only promoting growth but also aiming at the goal of green development, circular economy and applying ESG standards (Environment - Society - Governance) according to global trends.

From the association's perspective, Mr. To Hoai Nam, Permanent Vice President and General Secretary of the Vietnam Association of Small and Medium Enterprises, commented that the reduction in lending interest rates, along with preferential credit programs focusing on production, has created conditions for businesses to be more proactive in planning long-term investments. This is key to restoring business confidence and improving competitiveness in the context of a volatile international market.

According to Mr. Nguyen Van Tuan, Director of Green Agricultural Products Company Limited - a small business specializing in exporting fruits to Korea, since the beginning of 2025, we have "struck gold" when the bank announced a preferential credit package. After several years of difficult business, especially after the pandemic, the issue of capital was like a heavy stone. Before, getting a loan was a blessing, but the interest rate was always higher than the market, so how could we breathe? But now, the interest rate has really decreased, capital is much easier to breathe. This amount of money is not just to save people from hunger, but to "transform". We put all our efforts into two big things. One is to build more international standard cold storage, so that the agricultural products produced do not lose value. Two is to apply the technology of scanning codes to trace the origin (blockchain) for the entire growing area. When doing agricultural exports, we cannot do business carelessly, the foreign market has very strict requirements on quality and transparency. Capital not only helps small businesses like us stand firm but also opens up opportunities to upgrade the agricultural value chain to international standards."

According to economic experts, in the context of the global economy still facing many uncertainties – from geopolitical conflicts, inflation to the trend of tightening monetary policy in many countries – Vietnam needs to maintain flexibility and prudence in management. However, with a clear orientation of "capital flowing to the right place, to the right people", credit has become an important lever to help restore growth.

Experts also noted the need to continue monitoring bad debt risks and maintaining credit discipline to ensure system safety and the sustainability of the recovery. For credit to maximize its "leading" role, close coordination between the State - banks - enterprises is needed to improve capital absorption capacity, manage risks and promote economic sectors with high added value. This is the foundation for Vietnam's goal of sustainable economic development and deep integration./.

Source: https://vtv.vn/tin-dung-bom-thang-san-xuat-von-di-dung-huong-kinh-te-phuc-hoi-chac-chan-100251006191325123.htm