Agribank branches in Thanh Hoa province have been playing a crucial role in supporting local businesses, particularly in the realm of production and trade. Over the years, these branches have not only provided loans to households and individuals but have also implemented various solutions to support credit investments for businesses aiming to enhance their operational efficiency. This initiative has significantly contributed to job creation and the overall economic development of the region.
One notable example is the partnership between Agribank Bac Thanh Hoa and Lam Son Production and Trading Company, which was formalized with a contract amounting to nearly 30 billion VND. Nguyen Quang Quy, the Chairman of the Board of Directors of Lam Son Company, highlighted the importance of this collaboration, stating, "Our company specializes in producing various types of bricks for both local and external markets. Throughout our development, Agribank has consistently supported us with necessary funding. Not only do they provide favorable capital conditions, but they also regularly adjust interest rates downwards, which allows us to invest in modern facilities and equipment, thereby improving our productivity and product quality. Currently, Agribank Bac Thanh Hoa offers us working capital at an interest rate of 5.2% per year, which is a very advantageous rate, facilitating effective business operations."
In the first four months of 2025, Lam Son Company produced and sold approximately 30 million bricks, providing employment for 240 workers with an average monthly income of 10 million VND per person. This success story is reflective of the broader efforts by Agribank branches to provide flexible and proactive credit solutions that support production and business activities.
Agribank has focused its efforts on three primary growth drivers: consumption, export, and investment. Currently, the bank is implementing a program aimed at supporting import-export businesses in 2025, with a total funding scale of 35,000 billion VND. This program is designed for companies engaged in production and trade within the import-export sector that require short-term loans in Vietnamese Dong. The interest rate for these loans is set 1.6% lower than the standard lending floor, making it an attractive option for businesses.
This initiative will be available until December 31, 2025, or until the funding scale is reached. New businesses and projects that aim to develop essential services within the locality are prioritized for investment, alongside support and consultation to help clients build feasible and effective investment plans.
With a robust capacity for capital and modern technology, coupled with a professional and dedicated team, Agribank branches in the region are poised to provide comprehensive banking services. They offer a wide range of products and services including deposit services, loans, guarantees, domestic and international payments, and border trade payments. In addition, Agribank continuously rolls out promotional programs and fee reductions for customers who register for modern banking services, such as e-banking, card services, and bill payments.
To better serve customer needs, Agribank branches are expanding their network and distribution channels to bring banking products closer to clients. Currently, they operate across all localities in the province, featuring three type I branches, 31 type II branches, 34 transaction offices, two mobile transaction points via specialized vehicles, 91 ATMs/CDMs, and over 500 POS machines. Agribank is currently serving more than 1.3 million customers with deposits, loans, and various financial services.
Throughout its operations, Agribank branches in Thanh Hoa province have been at the forefront of implementing the government’s monetary and banking policies, utilizing innovative and effective solutions that significantly contribute to local economic and social development. This includes active participation in national programs aimed at rural development, sustainable poverty reduction, digital transformation, and comprehensive national financial strategies, all while combatting illegal lending practices to ensure social order and safety in local communities.
In addition to these banking initiatives, the overall industrial landscape in the region has shown promising growth. According to recent statistics, the industrial production index in the first four months of 2025 increased by 8.4% compared to the same period last year, with the manufacturing sector alone growing by 10.1%. The electricity production and distribution sector saw a rise of 5.1%, while the water supply and waste management sectors increased by 10.2%. However, the mining industry experienced a decline of 4.5% during this period.
In the first quarter of 2025, industrial production was estimated to have grown by 7.8% compared to the same period last year, marking the highest growth rate for the first quarter since 2020. This increase was primarily driven by the manufacturing sector, which rose by 9.5%, and the electricity production and distribution sector, which increased by 4.6%. The water supply and waste management sector also saw significant growth at 11.6%, while the mining industry faced a decrease of 4.7%.
As for consumer prices, the Consumer Price Index (CPI) in April 2025 increased by 0.07% compared to the previous month. The second quarter of 2025 is projected to see a CPI increase of 3.22% compared to the same period in 2024. The rise in CPI during the first quarter was attributed to several factors, including a 3.78% increase in food and food services, a 5.11% rise in housing, electricity, water, fuel, and construction materials, a notable 14.4% increase in medical services, and a 2.16% rise in cultural, entertainment, and tourism sectors.
Overall, the collaborative efforts between Agribank and local businesses, alongside the positive trends in industrial production, paint a hopeful picture for the economic landscape in Thanh Hoa province as it navigates through 2025.
