The second stimulus package to aid the economy amid the COVID-19 pandemic would focus on the most affected sectors, including aviation, tourism and consumption.
The State Bank of Viet Nam (SBV) will keep the interest rate of the VND30 trillion (US$1.32 billion) preferential credit package for low-income homebuyers at 5 per cent in 2017.
The disbursement of the housing stimulus package, valued at VND30 trillion (US$1.4 billion) in preferential loans, will finish on schedule, according to the State Bank of Viet Nam (SBV).
The Tien Phong Commercial Joint Stock Bank (TPBank) started offering its
business support package worth VND3 trillion (US$134 million) at a
lowered annual rate of 6.8 per cent on October 20.
The deadline for social housing developers who signed borrowing
contracts before March 31, 2016 to get cheap loans from the VND30
trillion stimulus package will not be extended to December 31 this year
as they wished. However, capital disbursement for low-income buyers
still continues.
Vietnamese shares ended mixed on the two local exchanges this morning, even as property developers and banks benefited from the central bank''s latest proposal to increase the housing stimulus package.
Prime Minister Nguyen Tan Dung has approved the State Bank of Việt Nam''s
(SBV) proposal to extend the VNĐ30 trillion (US$1.3 billion) housing
stimulus package until disbursement of all associated funds is
completed.
The VND30-trillion (US$1.3 billion) housing stimulus package''s
disbursement will end in April as more than 70 per cent of it has been
handed out, Construction Minister Trinh Dinh Dung said.
The State should amend regulations for receiving loans as part of the
VND30 trillion (US$1.42 billion) stimulus package, to promote the future
disbursement of loans, according to the Ministry Construction.
Property developers called for quick disbursement of the Government''s
VND30 trillion (US$1.43 billion) stimulus package so that home buyers
can pay in time at a meeting with Minister of Construction Trinh Dinh
Dung in HCM City on Monday.
Low-income buyers will be allowed to mortgage their new houses or
apartments to access loans from the VND30 trillion (US$1.3 billion)
housing stimulus package.
The VND30 trillion (nearly $1.5 billion) credit stimulus package granted
by the Government has still not shored up the local real estate market,
which has been stagnant over the past two years.
Deputy Prime Minister Hoang Trung Hai has asked commercial banks to act
fast and remove impediments to disbursement of the VND30 trillion
(US$1.5 billion) housing stimulus package introduced by the government.