At a meeting with the Handicrafts and Wood Industry Association (HAWA) on May 24, Le Hoang Quan, chairman of the People’s Committee of Ho Chi Minh City, instructed relevant departments to provide wood processing companies with preferential interest rates.
The move aims to help businesses lease land for construction of centers to display their products. HCMC will also assist the wood industry in skills training.
Mr. Quan has asked the Department of Planning and Investment and Finance and the Tax Department to also create conditions for the wood processing companies to access loans more easily.
The State Bank of Vietnam in HCMC should work with HAWA to help more businesses get loans at preferential interest rates. At present only 5-6 out of 160 wood processing companies are able to access these loans, said Mr. Quan.
