VIETNAM, August 19 –  

HCM CITY — Struggling tourism companies in HCM Metropolis are in dire want of credit score to get better however are discovering it very troublesome to entry the subsidised loans beneath the Authorities’s Decree 31 that took impact in Might, in keeping with the town’s Division of Tourism.

Bùi Thị Ngọc Hiếu, its deputy director, mentioned implementation of the decree, which entails a 2 per cent curiosity subsidy, would preserve companies hit by the COVID-19 disaster afloat.

The tourism business, which accounts for greater than 10 per cent of the town’s financial system, desperately need the subsidised loans to get better, she instructed a convention on Thursday.

However their entry is blocked resulting from their non-performing loans or failure to satisfy necessities, she mentioned.

Journey companies haven’t any property to mortgage for the mortgage, she mentioned.

The convention was organised by the division and the State Financial institution of Vietnam to hyperlink journey companies with banks and resolve the problems which can be stopping the previous from borrowing, she mentioned.

Versatile insurance policies are wanted to make it simpler for companies to get the low-interest loans, she added.

Nguyễn Đức Lệnh, deputy director of the central financial institution’s HCM Metropolis department, mentioned the banking business would have extra assist packages for companies within the second half of this yr and coming years.

The State Financial institution would work intently with the tourism division to take away obstacles confronted by journey companies and assist their restoration and progress according to the town’s socio-economic restoration and improvement programme, Lệnh mentioned.

On the convention, eight banks and journey companies signed agreements for loans.

Within the first seven months of this yr the town acquired 13.three million home and greater than 765,000 overseas guests.

Tourism revenues have been price VNĐ60.three trillion (US$2.59 billion), up 57.eight per cent year-on-year. —VNS