So far this year, 18 commercial banks in Ho Chi Minh City have registered to provide preferential credit totaling nearly VND200 trillion ($7.8 billion) to local enterprises, cooperatives, and household businesses, according to the Ho Chi Minh City branch of the State Bank of Vietnam (SBV).

This is part of the southern city's program to support businesses and promote economic growth, according to the branch’s Deputy Director Nguyen Duc Lenh.

This year, the program will focus on disbursing the credit package and organizing dialogues between banks and businesses to seek solutions to help local enterprises, cooperatives and household businesses to get better access to credit.

Banks will be encouraged to reform administrative procedures to create favorable conditions for businesses to get credits, Mr. Lenh said.