More credit planned for forestry, fisheries as billion-dollar export industry
(VOVWORLD) -The State Bank of Vietnam has directed commercial banks to deliver a credit program of 620 million USD with a minimum interest rate of 1-2% per year lower than the average lending interest rate, to support enterprises producing and processing forest and fishery products, according to a workshop in Hai Phong city on Friday.
 Workshop "Credit to support forestry and fisheries to maintain position in billion-dollar export industry". Photo: congthuong.vn
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The credit program will help forestry and fisheries maintain their position as a billion-dollar export industry. The Governor of the State Bank has requested credit institutions to consider expanding the program to a 1.2 billion USD credit package.
Dao Minh Tu, Deputy Governor of the State Bank of Vietnam, said: “If it runs out of 620 million USD, we are ready to propose increasing it to 1.2 billion USD or higher to create a boost for forestry and fisheries enterprises to overcome difficulties. Forestry and fishery products are extremely important to the economy, because they not only get foreign currency but also solve a huge labor problem.”