“Each day that passes, actual property companies must rush to borrow cash, even must “take a sizzling mortgage” to pay salaries and financial institution curiosity…”
Just lately, Ho Chi Minh Metropolis Actual Property Affiliation (HoREA) commented on the Draft Round amending and supplementing quite a lot of articles of Round 01/2020/TT-NHNN and Round 03/2021/TT-NHNN restructuring the time Debt compensation time period, exemption, discount of curiosity and costs, retaining the identical debt group to assist prospects affected by the Covid-19 epidemic.
In line with HoREA, the Covid-19 pandemic has created a world disaster and critically affected our economic system, every enterprise, every family and every particular person. After greater than a yr and a half of accompanying the State within the prevention and management of the Covid-19 pandemic and efforts to endure to save lots of themselves, it may be clearly seen that the majority companies, together with actual property enterprises, had been progressively exhausted, even some enterprises fell into exhaustion and exhaustion, their assets had been eroded, and so they had been at risk of chapter, if they didn’t obtain additional assist from the State in a well timed method.
The affiliation discovered that 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 thousands and thousands of employees. Subsequently, the State has mechanisms and insurance policies to assist actual property companies to beat this Covid-19 pandemic storm, to proceed to contribute to financial progress and guarantee social safety for housing. for all courses of individuals.
At present, many difficulties are surrounding most companies, together with actual property companies, once they must implement social distancing by way of four outbreaks of illness, from the start of 2020 till now. and the Covid-19 epidemic continues to be difficult and unpredictable.
The primary issue “speaking and speaking endlessly” is “congestion and issues” as a consequence of quite a lot of “insufficient” authorized laws and overlapping administrative procedures for industrial housing tasks. Nevertheless, actual property companies all the time insist that they don’t ask the State for monetary assist, solely ask the State to take away “obstacles and obstacles” by way of establishments and legal guidelines and create a clear enterprise and funding atmosphere. clear, truthful and wholesome, companies and the actual property market will progressively recuperate and develop once more after the Covid-19 pandemic is managed.
However now, “lack of money move” is the most important direct downside and most worrying, as a result of just like the physique’s “lack of oxygen”, the “lack of oxygen in money move” could make companies are “suffocated” instantly, as a result of there is no such thing as a cash left to pay curiosity and debt funds, no cash to take care of the equipment and assist, retain workers, no cash to “maintain” by way of. Throughout this very troublesome interval, as a consequence of the truth that tasks couldn’t be carried out on schedule, needed to cease development, lack of merchandise whereas the market was “stagnated”, transactions dropped sharply, merchandise couldn’t be bought. merchandise, gross sales had been “falling vertically”, unable to boost capital as earlier than.
The problem of lack of money move is straight associated to the issue of credit score as a result of right now the rate of interest on financial institution loans has not decreased as anticipated and companies nonetheless must pay financial institution curiosity each month.
“Each day that goes by, companies must rush to borrow cash, even must “take sizzling loans” to pay salaries, to take care of minimal operations, to pay financial institution curiosity, particularly incoming credit score loans. As a result of, in keeping with the financial institution’s working laws, if the mortgage can’t be paid due, the financial institution will robotically swap to dangerous debt, or worse debt group, which has been categorised as “dangerous debt” , the more severe debt group”, enterprises shall be caught as a result of they can not entry new loans to beat difficulties”, the HoREA consultant emphasised.
Together with that, “caught in cash, caught in capital, misplaced in liquidity” is the most important danger and danger that each enterprise has to face, though it might nonetheless have belongings, however as a result of it has not been bought but, it results in “lack of cash” money move”, so the enterprise will be “useless by itself belongings”.
Accordingly, gaining access to credit score right now greater than ever is an emergency “credit score oxygen” for companies and should depend on “money move ventilators” from credit score sources of economic banks. industrial.
In line with the Ho Chi Minh Metropolis Actual Property Affiliation, whereas the Covid-19 pandemic is difficult, industrial banks sharing and supporting the enterprise group can be a enterprise ethic, as a result of they’re all on the identical web page. boats, rowing collectively to beat storms and storms, however initially, companies want to scale back rates of interest; extending the compensation interval, freezing debt to maturity, not changing to “dangerous” debt, or “worse” debt group, and creating favorable circumstances for companies to entry new credit score loans for venture implementation.
Companies that “stay” can solely “stay nicely”. It’s unattainable for the economic system to develop usually if there’s a scenario the place most companies undergo from difficulties and losses, and banks make massive earnings, as the information introduced the “horrible” earnings of the airline business. Few industrial banks in 2020 and the primary 6 months of 2021 look fairly “offensive”, contrasting with the overall image of the economic system, as a result of there are too many companies and folks struggling to deal with numerous issues. troublesome.
Nevertheless, companies additionally want to know and share with the “private difficulties” of economic banks as a result of banks are additionally companies, have to be chargeable for enterprise outcomes, so banks and companies should be chargeable for their very own enterprise outcomes. Companies have to work collectively to harmonize the pursuits of the events.
Over the previous two years, the Affiliation extremely recommended the State Financial institution for drastically directing industrial banks to implement efficient assist options for companies. Banks have restructured the compensation time period, saved the identical debt group, exempted and lowered lending rates of interest for practically 800,000 prospects, together with companies and households with excellent loans of practically VND 2 million billion. . By which, direct and oblique mortgage curiosity for previous or new loans for companies has been lowered by about VND 18,830 billion.
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 industrial banks have voluntarily agreed to decide to options to assist 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 4 largest banks, Vietcombank, VietinBank, BIDV, and Agribank, additionally dedicated to scale back the rate of interest of every financial institution by 1,000 billion VND to scale back the rate of interest for purchasers with the rate of interest discount from 0.5% to 1.5. % relying on the case, on the identical time, there are banks that cut back the rate of interest for medium and long-term loans to 7%/yr.
The Affiliation want to touch upon the draft Round amending and supplementing quite a lot of articles of Round 01/2020/TT-NHNN dated March 13, 2020 “On rescheduling of debt compensation, exemption and discount of curiosity and costs , sustaining the debt group to assist prospects affected by the Covid-19 epidemic” (amended and supplemented in Round 03/2021/TT-NHNN dated April 2, 2021).
On the identical time, the affiliation proposed the State Financial institution to permit credit score establishments, industrial banks and overseas financial institution branches to actively take into account and resolve on the rescheduling of debt compensation, exemption or discount of curiosity. , charges, maintain the identical debt group of shoppers (enterprises, together with actual property companies, households, and people) and are utilized to the debt steadiness arising in the course of the interval from January 23, 2020 till June 30, 2022 (as a consequence of Round 03/2021/TT-NHNN solely extending till December 31, 2021), particularly the consideration of latest loans for purchasers, will present extra sensible assist. for companies, together with actual property companies affected by the Covid-19 pandemic, to assist cut back mortgage prices, cut back enter prices, achieve entry to new loans, to have extra time progressively. restore manufacturing and enterprise beneath new regular circumstances.
