On March 18, 2025, in Thai Nguyen, the State Bank of Vietnam (SBV) held a Conference on “Promoting bank credit to contribute to economic growth in Region 5”. Deputy Governor of SBV Doan Thai Son and Mr. Nguyen Huy Dung - Chairman of Thai Nguyen Provincial People's Committee co-chaired the Conference.
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| Conference "Promoting bank credit to contribute to economic growth in Region 5" |
Attending the Conference were leaders of the Provincial Party Committee, People's Committee, People's Council, National Assembly Delegation of provinces in Region 5 (Thai Nguyen, Bac Ninh, Bac Giang, Bac Kan, Cao Bang, Lang Son); Leaders of relevant Departments/sectors, mass organizations, associations, enterprises, and cooperation in the area. On the Banking side, there were also representatives of a number of units, Departments, Central State Bank Departments and the Board of Directors, key officials of the State Bank Region 5; Directors of credit institution (CI) branches in the area.
In 2025, under the strong direction and leadership of the National Assembly, the Government, and the Prime Minister, closely following the solutions and tasks in Resolution 158/2024/QH15 of the National Assembly on the socio-economic development plan for 2025, the Resolutions of the Government on the main tasks and solutions to implement the socio-economic development plan and the state budget estimate for 2025, the tasks and solutions to improve the business environment, enhance national competitiveness in 2025, the State Bank has urgently concretized them into goals and solutions for the entire system on currency, credit, restructuring, bad debt handling, inspection, supervision, administrative procedure reform, promoting non-cash payments, digital transformation of banking activities and ensuring security and safety of payment activities....
Regarding credit work, to facilitate credit institutions, from the end of 2024, the State Bank of Vietnam announced and immediately assigned credit growth targets for 2025 to each unit (with the target of credit growth for the whole industry of about 16%, adjusted according to the actual situation) so that credit institutions can be proactive in business activities; At the same time, the SBV directed credit institutions in 2025 to resolutely implement solutions to increase credit growth correctly and on target right from the beginning of the year, strengthen the review and simplification of credit granting processes and procedures, optimize the application of digital transformation to the credit granting process, create favorable conditions for accessing bank credit capital... On February 25, 2025, the SBV issued Official Dispatch 1328/NHNN-CSTT on stabilizing deposit interest rates and reducing lending interest rates, in which it urged credit institutions to strictly implement the direction of the Government, the Prime Minister, and the SBV to stabilize deposit interest rates, contribute to stabilizing the monetary market, strive to reduce lending interest rates, focus credit on production and business sectors, priority sectors...
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| Conference Overview |
SBV Region 5 has the management scope of 6 provinces, the areas of the provinces have quite different socio-economic development conditions between the mountainous, midland and plain areas; the geographical distance between the headquarters in Thai Nguyen and some provinces is quite far, transportation is difficult, infrastructure is limited, especially in mountainous districts, remote areas.
Regarding the network of credit institutions in Region 5, the entire region has 36 credit institutions operating with 136 level 1 branches; 03 branches of Microfinance Institutions (TYM) and 49 People's Credit Funds (QTDND); 52 district, city and town branches of the Bank for Agriculture and Rural Development; 449 transaction offices under the branches. In general, the banking system in the area is expanded from urban centers to districts, mountainous areas, remote areas, meeting the needs of using financial, monetary and banking services and serving the goals of local socio-economic development.
As of February 28, 2025, total outstanding credit in Region 5 reached over VND 511 trillion, an increase of 1.5% compared to the end of 2024, accounting for about 3.25% of total outstanding debt of the whole economy. The credit structure is consistent with the economic development orientation of the region, such as: credit for the trade and service sector accounts for more than 60%, industry and construction accounts for 30%. Credit is focused on priority areas according to the policies of the Government and the State Bank: Loans for agricultural and rural development account for 32% of total outstanding debt; small and medium enterprises (SMEs) account for over 14% of total outstanding debt. The Vietnam Bank for Social Policies has implemented 23 policy credit programs, with outstanding debt reaching over VND 30.9 trillion for poor households, near-poor households, ethnic minority households and mountainous areas.
Speaking at the Conference, Deputy Governor Doan Thai Son said that over the past time, the whole industry has made efforts to implement solutions to remove difficulties, increase credit supply for production and business of people and enterprises, and continue to support economic growth. In particular, since 2020, the banking industry has continuously adjusted to reduce interest rates; at the same time, the State Bank has flexibly and innovatively managed credit growth to create initiative for credit institutions. Credit institutions have also been very active in implementing many preferential credit programs for industries and sectors; implementing measures to support customers with difficult loans: restructuring debt repayment terms, exempting and reducing interest rates and fees without transferring debt groups... Promoting digital transformation, reforming administrative procedures, creating favorable conditions for customers in accessing credit.
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| Deputy Governor of the State Bank of Vietnam Doan Thai Son delivered the opening speech at the Conference. |
The bank's business support policy is implemented with the motto of sharing difficulties and accompanying people and businesses with the banking industry's own resources.
The Deputy Governor highly appreciated the achievements of banks in Region 5. In the coming time, to promote credit growth in the region, the State Bank will continue to closely follow the direction of the Party and the Government, coordinate with socio-economic development programs of localities in the region, synchronously implement solutions on monetary and credit policy management, focusing on promoting credit growth, directing credit to production and business sectors, priority sectors, growth drivers (especially sectors that are strengths of the region such as mechanical engineering, electronics, semiconductors, tourism, organic clean industry, etc.); Strictly control credit for sectors with potential risks; develop credit products for sectors and fields in line with the business strategy and resource balancing ability of credit institutions; Focus on credit investment in key projects and works, green credit, credit serving the development of strong sectors of the region and locality; Strengthening administrative reform, creating favorable conditions for people and businesses to access bank credit capital; continuing digital transformation, providing technology products in both credit and payment; promoting consumer credit and promoting policy communication...
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| Business leaders representatives attending the Conference |
However, according to the Deputy Governor, in addition to the solutions of the Banking sector, it is necessary to have the coordination of Departments, Boards, Sectors, Associations and Unions in the Region so that the support solutions and policies are effective and synchronous; helping people and businesses in the region stabilize production and business, develop sustainable socio-economy, contributing to the implementation of economic growth targets set by the Government and localities.
Source: https://thoibaonganhang.vn/day-manh-tin-dung-ngan-hang-gop-phan-tang-truong-kinh-te-161518.html
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