Enterprises 'penetration attack' interest

Monetary policy tightening, anti-inflation objectives causes side effects in the second quarter. Raw materials and rising interest rates that companies operating in moderation, not growth.

Monetary policy tightening, anti-inflation objectives causes side effects in the second quarter. Raw materials and rising interest rates that companies operating in moderation, not growth.

According to the Ministry of Industry and Trade, exports in May reached 7.5 billion USD, up 0.8% from April and up 18.8% over the same period. In particular, the export enterprises of foreign investment (excluding oil) is estimated at USD 3.4 billion, up 0.9% from April. Generally, 5 months, total exports reached 34.75 billion USD, up 32.8% over the same period.

At a briefing by the Ministry of Trade and Industry online held on 6 / 6, Mr Phan Van Chinh, Director of Export analysis cycle, the May, 6, 7 is the most strong export But in May this year only reached 7.5 billion USD, while in April the figure was 7.44 billion. Mr. Chinh stressed that monetary policy tightening, anti-inflation targets has caused adverse reactions in the second quarter.

Enterprises will be difficult to complete the business and production targets because of high interest rates

"The bank is raising up to 20%, the interest rate is also higher, respectively, in the third quarter of businesses will see the 'absorption'. Enterprise will be difficult to complete the production and business targets," Mr Chinh said.

Mr. Le Phu Hung, general director of Vietnam Steel Corporation, acknowledged the difficult situation of enterprises to pay higher interest rates. April 4-5 and steel consumption decreased over the same period in 2010. "With monetary policy now, the difficulty is found before and actually going on. 6 months, the steel industry can not grow," Mr Hung said.

Deputy Director of HCM City, Department of Trade Huynh Khanh Hiep said that industrial production in the city tends to slowdown. Businesses tend to produce moderation, no growth.

Agreeing with this point on, Ms. Cao Thi Ngoc Hoa, deputy director of the Southern Food Corporation, said rice exports in the five months to reach 1.6 million tons, 450,000 tons of inventory, contracts are made is 300,000 tons. The problem facing businesses is the difficulty in accessing bank loans, loan case was also fortunate to have eyes under high interest rates. "Coming into the summer, but investors treasure milling plant of the business decline because interest rates are too high," said Ms. Hoa.

No stress just because interest rates, foreign exchange businesses are concerned. According to deputy general director of Petrolimex Dam Thi Huyen, in April and 5, the banking corporation has purchased 1.3 billion dollar trade. The balance of foreign currency loans of about $ 400 million per month, a relatively stable level, but Ms. Huyen concerns about potential foreign steel in the coming months: "We dare not claim to buy the currency stable How long this ".