Ho Chi Minh Metropolis Actual Property Affiliation (HoREA) has simply despatched a doc to the State Financial institution to touch upon the Draft Round amending and supplementing a lot of articles of Round 01/2020/TT-NHNN and Round 03/2021 /TT-NHNN restructured the compensation time period, exempted and lowered curiosity and costs, and saved the identical debt group to help clients affected by the Covid-19 epidemic.
In line with the Affiliation, after greater than a yr and a half affected by the pandemic, to this point it may be clearly seen that almost all companies, together with actual property companies, have progressively exhausted themselves, even some companies have misplaced their lives. The business is in a state of exhaustion and exhaustion, sources are eroded, and there’s a danger of chapter, if it isn’t supported by the State in a well timed method.
Particularly, the actual property sector contributes about 7-8% of the nation’s GDP and is said to greater than 35 completely different industries and creates jobs for tens of millions of employees. Due to this fact, the State must have mechanisms and insurance policies to help actual property companies to beat this pandemic, HoREA emphasised.
First, the everlasting problem of actual property companies is congestion and issues on account of some “insufficient” authorized rules. and overlapping administrative procedures for business housing tasks. If the State removes bottlenecks and obstacles by way of establishments and legal guidelines, companies and the actual property market will progressively recuperate and develop once more after the pandemic is beneath management.
The second is the problem of the shortage of money circulation, That is probably the most instant and worrisome problem. As a result of much like the physique is “lack of oxygen”, when the actual property enterprise lacks “oxygen money circulation”, there is no such thing as a cash left to pay curiosity and debt compensation will likely be suffocated instantly.
At the moment, companies not have cash to keep up the equipment and help, retain workers, not have cash to endure when tasks can’t be carried out on schedule, need to cease building works, lack manufacturing. merchandise whereas the market was frozen, transactions dropped sharply, merchandise couldn’t be bought…
In line with HoREA evaluation, the problem of lack of money circulation is immediately associated to the problem of credit score as a result of in the mean time financial institution mortgage rates of interest haven’t decreased as anticipated and companies nonetheless need to pay financial institution curiosity frequently each month.
Day by day, companies need to rush to borrow cash, even “scorching loans” to pay salaries, to keep up minimal operations, to pay financial institution curiosity, particularly due credit score loans. As a result of, in keeping with the financial institution’s working rules, if the mortgage is just not paid again due, the financial institution will instantly “routinely” swap to “unhealthy debt”, or the group of “worse debt”, which has been categorized as unhealthy debt. kind of “unhealthy debt, worse debt group”, enterprises will fall into “stalemate” as a result of they can not entry new loans to beat difficulties….
In line with the Affiliation, the State Financial institution of Vietnam previously two years has drastically directed business banks to implement efficient help options for companies. Nevertheless, most actual property companies haven’t been adequately supported by banks as a result of they’re nonetheless thought of a probably dangerous enterprise.
Just lately, 16 business banks have voluntarily agreed to decide to options to help companies, with the mortgage curiosity quantity to be minimize by about VND 20,300 billion from now till the top of the yr. Significantly, the four largest banks, specifically Vietcombank, VietinBank, BIDV, and Agribank, additionally dedicated to scale back the rate of interest of every financial institution by one other 1,000 billion VND to scale back rates of interest for purchasers with the rate of interest discount from 0.5-1.5%. Relying on the case, on the similar time, there are banks that scale back the rate of interest for medium and long-term loans to 7%/yr.
The Affiliation accordingly commented on the draft Round amending and supplementing a lot of articles of Round 01/2020/TT-NHNN dated March 13, 2020 “About rescheduling of debt compensation, exemption and discount of curiosity and costs, sustaining the identical debt group to help clients affected by the Covid-19 epidemic” (amended and supplemented in Round 03/2021/TT) – SBV on April 2, 2021, as follows:
(1) The affiliation proposes to the State Financial institution to permit credit score establishments, business banks and overseas financial institution branches to actively think about and resolve on rescheduling of debt compensation, exemption or discount of curiosity. , charges, protecting the client’s debt group unchanged (enterprises, together with actual property companies, households, and people) and is utilized to the excellent stability arising from January 23, 2020 to June 30, 2022 (as a result of Round 03/2021/TT-NHNN solely stipulates the extension till December 31, 2021), Particularly contemplating giving clients new loans, it would present extra sensible help to companies, together with actual property enterprises affected by the Covid-19 pandemic, serving to to scale back mortgage prices, scale back enter prices, entry to new loans, to have extra time to progressively restore manufacturing and enterprise in new regular situations.
(2) A few years in the past, the Affiliation really helpful business banks think about constructing a mechanism for figuring out mortgage rates of interest in keeping with the next fundamental method:
Mortgage curiosity = Common deposit price + NIM
with NIM = ~2.5% – 3% (or perhaps slightly increased) to each make sure the financial institution’s enterprise effectivity, construct a sustainable credit score market, and supply sensible help to companies and the financial system.
On the idea of the present common deposit rate of interest, the Affiliation recommends the State Financial institution to advocate: Business banks think about decreasing mortgage curiosity by 2%/yr for purchasers as affordable and affordable, making certain the concord of pursuits of the events.
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