While nearly a million businesses in Vietnam struggle to cope with Covid-19, a number of banks have announced huge first-half profits because 25 to 40 per cent of businesses require loans to maintain operations. Sixteen banks in Vietnam have also agreed to reduce lending rates from July to the end of the year.

The State Bank of Vietnam and credit institutions have actively promoted solutions to help enterprises overcome the impact of Covid-19 since it first broke out in the country. The accumulated amount of interest exemptions and reductions for enterprises from January 23, 2020 to June 14, 2021 is VND18.27 trillion ($793.6 million). Such exemptions and reductions are expected to continue to rise.