The State Bank of Vietnam (SBV) has required commercial banks to accelerate the implementation of the credit package worth VND100 trillion ($3.8 billion) for businesses operating in the field of agro-forestry and fishery sector.

The move is aimed at increasing the credit program for the sector to over VND100 trillion, as directed by the Government.

So far, 15 banks have registered to participate in the program.

The central bank encouraged other commercial banks to join the initiative to support the development of the sector which is considered one of key industries of the economy, while helping to ensure national food security and boost exports.

The sector involves the operation of many cooperatives and small- and medium-sized enterprises which are eligible for credit priority, according to the central bank.

In 2024, total export revenue of agro-forestry and aquatic products hit a record high of $62.4 billion, up 18.5% year-on-year.