Many businesses paid off preferential capital

In 2021, Covid-19 outbreak in many provinces and cities nationwide caused severe impacts on most of enterprises, even operational suspension for disease prevention and control, including a lot of companies in Bac Giang province.

Bac Giang BGG Garment Corporation Joint Stock Company is offered the loan package under Resolution 68 to recover the production and business.

To deal with the difficulties, the businesses were offered 7.5 trillion VND loan package to pay salary for severance and production recovery. The maximum loan is equal to the regional minimum wage in maximum of three months with zero interest. The loan period is under 12 months which requires no collateral assets.

Ha Bac Garment Export Joint Stock Company (Ha Bac Garment) (Viet Yen district) was one of the beneficiaries from the preferential loan package. Vice General Manager Nguyen Tuan Son said from August to October, 2021, Ha Bac Garment was disbursed 50 billion VND of preferential loan by Bac Giang branch of Social Policy Bank (SPB) to pay salary for more than 14,600 turns of workers.

Thanks to the loan package, the company prioritised capital to import more materials to accelerate production, helping earn revenue of over 1.3 trillion VND last year and over 700 billion VND in the first six months of this year, up dozens of billion VND year on year. The company contributed nearly 8 billion VND to the budget. With stable production and business, Ha Bac Garment has recently paid off the bank loan on time.

Similarly, last year Bac Giang BGG Garment Corporation Joint Stock Company (Bac Giang city) was offered the preferential loan of 23 billion VND under Resolution 68 to pay salary for nearly 6,800 turns of workers. The loan helped company reduce capital pressure and quickly recover the production and business activities.

Many other companies accessing to preferential bank loan have returned the capital on time such as Bac Giang LGG Garment Corporation Joint Stock Company (Lang Giang) with 51 billion VND, Bac Giang LNG Garment Corporation Joint Stock Company (Luc Nam) with 18 billion VND, HAEM Vina Company Limited in Song Khe Noi Hoang industrial park with over 10.4 billion VND…

Promoting the effectiveness of loan capital

Bac Giang is now top leading provinces nationwide in disbursement result of the preferential loan per Resolution 68. Director of provincial SPB Ha Quoc Quan said as of June 30, 2022, the province offered preferential loan for 91 employers to pay salary for nearly 143,000 turns of labours with total amount of nearly 485 billion VND. So far, 20 companies with due date have paid off the bank loan of over 134 billion VND as regulation.

The officials at Bac Giang branch of Social Policy Bank disburse the loan capital for customers under Resolution 68.

Actual survey from the provincial SPB proved that after getting the bank loan, the businesses used the capital properly to promote the efficiency of business and production and stably maintain jobs for labours.

In the first half of this year, most of the enterprises earned growth rate of 10 – 20 percent against the same period last year. They also gained quick recovery and accelerated the business and production, hence positively increase the provincial industrial production value.

To achieve the above mentioned results, the provincial SPB actively consulted the provincial People’s Committee to issue several instructions to relevant departments, sectors, agencies about enhancing the communication and popularization of Resolution 68 to companies affected by the pandemic for the loan capital. Meanwhile, the provincial SPB quickly and effectively implemented the loan policies.

Also, the provincial PSB established Steering Committee about implementation the Resolution 68 to assign the task to each member so as to monitor and direct the transaction points in the districts and city toward effective execution.

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