Credit institutions in Ho Chi Minh City disbursed over VND608.600 trillion ($23.8 billion), or 119.3%, of a credit package for local businesses in 2024, according to the State Bank of Vietnam (SBV) branch in the city.

The figure surged 12.5% compared to 2023.

The credit package was launched by 17 commercial banks in the southern city early this year to provide preferential credit to local businesses in 2024, totaling over VND509.86 trillion ($19.9 billion).

It focuses on sectors considered to be growth drivers in the city, such as exports, agriculture, small and medium-sized enterprises (SMEs), supporting industry, and businesses applying high technology.

The SBV branch in the city organized 38 conferences connecting banks with businesses in 2024.