Nghe An: Total capital mobilized by credit institutions in 9 months increased sharply

According to the report ofState BankNghe An branch, banking activities achieved good growth in mobilized capital and outstanding loans compared to the same period last year, continuing to control the ratio of bad debt to total outstanding loans below the allowed level.

Total mobilized capital of credit institutions (CIs) in the area in the first 9 months of 2021 reached 171,170 billion VND, up 6.9% over the beginning of the year, up 7.03% over the same period in 2020. Total outstanding debt excluding the Development Bank reached 217,119 billion VND, up 3.8% over the beginning of the year, up 10.08% over the same period in 2020.

However, due to the impact of the epidemic, businesses are facing difficulties and have to narrow down production and business activities, so there are not many new loans.

Textile and garment export activities in Nghe An are bustling. Photo: Tran Chau

For existing loans, banks proactively review, appraise, and implement within their authority or submit to the Head Office appropriate measures to support customers such as: exempting or reducing fees and loan interest; reducing loan interest rates; restructuring repayment terms and maintaining the debt group..., providing new loans with preferential interest rates to support customers to maintain and stabilize production and business.

Meanwhile, according to the Department of Industry and Trade's report, export activities are a bright spot in the context of being affected by the impact of the Covid-19 epidemic.

Total export turnover in the first 9 months reached 1,100 million USD, up 44.8% over the same period in 2020; of which, goods export is estimated at 860 million USD, up 50.2% over the same period last year. Total import turnover in the first 9 months reached 670 million USD. In the first 9 months of 2021, Nghe An enterprises exported to about 115 countries and territories around the world, of which, goods were mainly exported to major markets such as:China(accounting for 31.7%), South Korea (accounting for 14.2%), India (accounting for 3%)...

Many items had a fairly good growth in export turnover, especially the processed industrial goods group, such as: Electronic components reached 125.9 million USD (compared to 794 thousand USD in the same period in 2020); textiles reached 197.7 million USD, up 26.3%; wood chips reached 110.8 million USD, up 21%; plastic additives reached 17.6 million USD, up 50.4%; processed fruits and fruit juices 23.7 million, up 14.5%; textile fibers of all kinds reached 8.9 million USD, up 39%; superfine white limestone powder reached 34.7 million USD, up 47.7%.

Meanwhile, trade, tourism, and transportation decreased sharply. Excluding some medical products and necessities for epidemic prevention and control, for other products, consumer purchasing power decreased sharply due to businesses, restaurants, etc. having to close and not operate. Total retail sales of goods and consumer service revenue in the first 9 months is estimated at VND 52,024.82 billion, down 10.12% over the same period in 2020 (the third quarter alone decreased by 37.57%).

Trade and services in Vinh city are heavily affected by the Covid-19 epidemic. Photo: Tran Chau

Due to the widespread implementation of social distancing in localities in the province and many provinces and cities in the country, transportation and circulation of goods and passengers have encountered many difficulties.

Enterprises are experiencing delays in delivery of goods, increased storage and warehousing costs, increased transportation costs, especially sudden increases in sea freight costs, which greatly affect the production and business activities of enterprises.Transportation revenue, warehouse and transportation support services in 9 months are estimated at 7,475 billion VND, down 3.88%.

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