HOREA pushes for revisions in central bank’s circular

August 22, 2023

HCMC – The HCMC Real Estate Association (HoREA) is pushing for changes in Circular 06 over concerns that the circular might hinder enterprises’ ability to secure bank loans. This circular, scheduled to take effect in early September, amends and supplements certain provisions of Circular 39/2016 governing bank lending. If implemented, banks could be restricted from offering loans for crucial activities such as capital contributions, equity transfers, and capital repayment. With over 40,000 real estate enterprises nationwide, encompassing both listed and non-listed companies, HoREA’s suggestions aim to level the lending landscape. It emphasized that the proposed changes would foster equality among enterprises, facilitating a broader spectrum of real estate projects’ access to credit.

The source of this news is from The Saigon Times