Nghe An: Loans for offshore fishing operations increase sharply.

(Baonghean.vn) - In the first nine months of the year, outstanding loans for offshore fishing in Nghe An province have grown strongly. To date, this loan program is estimated to have reached 615 billion VND, a 60% increase compared to the beginning of the year.

According to the State Bank of Vietnam's Nghe An branch, as of September 30, 2017, mobilized capital in the area reached VND 104,403 billion, an increase of 12.37% compared to the beginning of the year (an increase of VND 11,449 billion). The total outstanding loans of credit institutions in the area reached VND 160,200 billion, an increase of 10.17% compared to the beginning of the year (an increase of VND 4,787 billion).

Thanks to loans for offshore fishing, many fishing vessels are operating efficiently. In the photo: Fishermen in Tien Thuy, Quynh Luu prepare ice for their fishing trip. Photo: Thu Huyen.

Of the total outstanding loans, medium and long-term loans accounted for 63.2%, while short-term loans accounted for 36.8%. Non-performing loans of credit institutions in the area were estimated at VND 1,571 billion, accounting for 0.98% of the total outstanding loans, a decrease of VND 245 billion compared to the same period last year (equivalent to 13.49%), and the non-performing loan ratio was lower than the same period last year (1.3% in 2016).

Some programs have relatively high outstanding loan balances, such as: loans for agriculture and rural areas under Decree 55, estimated at VND 60,864 billion, an increase of 6.7% compared to the beginning of the year; export loans, estimated at VND 1,750 billion, an increase of 21.2% compared to the beginning of the year; outstanding loans for housing support under Resolution 02/NQ-CP dated January 7, 2013 of the Government, estimated at VND 387 billion, a decrease of 7.9% compared to the beginning of the year...

In particular, outstanding loans for offshore fishing under Government Decree 67/2014/ND-CP and State Bank of Vietnam Circular 22/2014/TT-NHNN have grown strongly. To date, this loan program is estimated to have reached VND 615 billion, a 60% increase compared to the beginning of the year. Currently, there are 83 offshore fishing vessels built under Decree 67, mainly concentrated in Hoang Mai and Quynh Luu districts.

Thu Huyen