Banks need to cut costs, reorganize operations to be more efficient, and especially sacrifice part of their profits to reduce lending rates, support the economy, people, businesses, and create livelihoods for people.
The Prime Minister discussed with the Governor of the State Bank and leaders of commercial banks on the sidelines of the conference - Photo: DOAN BAC
That was the direction of Prime Minister Pham Minh Chinh when chairing the Government Standing Committee meeting working with banks to promote growth and control inflation on February 11.
In particular, according to the Prime Minister, banks need to research specific credit packages for the real estate market, consumer loans, and new growth drivers...
Must remove obstacles to unblock credit
Speaking at the conference, the Prime Minister said that to achieve the growth target of at least 8% or more in 2025, credit growth must be around 16%.
Therefore, the banking industry in general and commercial banks in particular must take the lead in promoting growth, controlling inflation and stabilizing the macro economy.
The solutions focus on reducing costs, reorganizing operations more effectively, and especially sacrificing part of profits to reduce lending interest rates, support the economy, people, businesses, and create livelihoods for people.
It is especially necessary to focus on credit, contributing to renewing the three growth drivers: investment, consumption, and export, and promoting new growth drivers, in which public investment leads private investment.
Research on consumer credit packages, credit for key industries to solve many jobs, shift economic structure; preferential credit for industries, fields, priority subjects; credit for BOT projects, public-private partnerships; research on specific credit packages for the real estate market...
In particular, there will continue to be preferential credit packages for both supply and demand to develop social housing, housing for young people aged 35 and under, housing for the disadvantaged...
According to the Prime Minister, commercial banks must be pioneers in digital transformation, application of science and technology, innovation; build databases, implement Project 06; implement Resolution 57 of the Politburo on breakthroughs in science and technology development, innovation, digital transformation; have measures to pilot the implementation and management of virtual banks.
Promote the reduction of administrative procedures, inconvenience, harassment, negative manifestations, fight corruption and waste in banking activities, reduce bad debt, and create favorable conditions for people and businesses.
Implement smart governance, build a smart bank. The bank actively implements three strategic breakthroughs in institutions, infrastructure, and human resources, contributes to the development of laws, focuses on mobilizing resources to develop strategic infrastructure, and trains human resources.
In addition to paying attention to removing difficulties and obstacles for backlogged and prolonged projects that cause waste of private enterprises and supporting small and medium-sized enterprises, the Prime Minister also assigned Deputy Prime Minister Ho Duc Phoc to directly direct,
State Bank Governor Nguyen Thi Hong urgently builds documents to submit to the National Assembly in the upcoming May session to legalize Resolution No. 42 of the National Assembly on piloting the handling of bad debts of credit institutions...
Need to promote capital market development
Also at the conference, Mr. Do Minh Phu - Chairman of the Board of Directors of TPBank - said that Vietnam's economy is entering a relatively clear cycle of development and recovery, with better capital absorption capacity.
Commercial banks, including TPBank, have reduced lending interest rates by about VND1,900 billion, reduced and simplified procedures, reduced internal processes and applied technology...
With the desire to contribute to the country having 3,000km of expressway, Mr. Phu said that the bank has participated in many projects, such as Cam Lam - Vinh Hao expressway and recently signed a credit contract of 2,400 billion VND for the Huu Nghi - Chi Lang expressway BOT project, which will be disbursed this week. Therefore, according to Mr. Phu, it is necessary to eliminate the management of credit growth targets to better open up capital sources.
Ms. Nguyen Thi Phuong Thao, founder of HDBank, said that the bank and its partners are coordinating to implement contracts worth 48 billion USD with large US corporations, and are negotiating to increase it to 64 billion USD.
In order to contribute to promoting the National Digital Transformation Program, according to Ms. Thao, HDBank has established and supported the operation of an artificial intelligence (AI) and Blockchain investment fund to build "Make-in-Vietnam" technology products; ready to provide funding for businesses, prioritizing the semiconductor and high-tech sectors.
However, Ms. Thao recommended that the Government promote the development of the capital market, reduce pressure on bank credit, and support long-term growth. The State Bank should maintain stable interest rates, support social housing credit, develop digital credit, and flexibly manage exchange rates to promote exports.
The Government and the State Bank quickly and promptly support the restructuring process of DongA Bank according to the compulsory transfer plan.
"Growth above 8% is not a distant dream but a feasible goal, the foundation for the next stage of sustainable development with double-digit GDP growth, when there is drastic action and consensus from the entire system.
The government has taken the lead, businesses must innovate, and banks must accompany. We will make a strong breakthrough and not be afraid of challenges," Ms. Thao emphasized.
Bank leaders emphasized that digital transformation is becoming an inevitable trend. Vietcombank representatives have deployed many technological solutions to shorten the time for reviewing loan applications, helping customers access capital more quickly...
However, the State Bank still faces difficulties in exploiting citizen data due to the lack of connectivity between management agencies.
Hundreds of thousands of billions of dong to fund environmentally friendly projects
At the conference, Ms. Nguyen Thi Hong - Governor of the State Bank - pledged that the banking industry will focus on promoting credit growth, with a target of 16% and will flexibly adjust according to the actual situation to support the economy to achieve a growth rate of 8% or more, while at the same time operating a flexible monetary policy, controlling inflation, focusing on handling bad debt...
Accordingly, one of the priorities of the banking industry is to support and promote small and medium enterprises, because this is the sector that creates many jobs and makes a large contribution to the economy.
In addition, consumer credit will be strongly exploited, because when consumption increases, businesses will have the motivation to produce, thereby stimulating economic growth.
In particular, Ms. Hong said that from January 2026, goods exported to many international markets will have to meet strict environmental standards.
Therefore, green credit becomes an important factor, helping businesses improve their competitiveness. The State Bank encourages commercial banks to promote lending to environmentally friendly projects to best prepare businesses for export...
Agreeing with the governor, banks also said that green credit and social housing credit are also major focuses.
Accordingly, commercial banks such as Vietcombank, BIDV and VietinBank committed to spending hundreds of thousands of billions of VND to finance environmentally friendly projects, helping Vietnam meet green export requirements from 2026.
Early legalization of bad debt settlement solutions
However, one of the major barriers of the banking system is the problem of handling bad debt and difficulties in debt collection.
Therefore, many banks have recommended that the Government soon legalize debt settlement solutions to ensure the sustainability of the financial system.
Along with that, it is necessary to focus on institutional reform and digital transformation to improve operational efficiency and improve capital adequacy ratio (CAR) according to Basel 3 standards. Without additional capital, some banks may be limited in expanding credit.
Therefore, some commercial banks are proposing that the Government delay the implementation of CAR regulations to ensure sufficient credit space for the economy.
Unblocking mechanisms and human resources to promote innovation
According to experts, it is necessary to focus on training high-quality human resources to serve the science and technology innovation industry - Photo: P.SON
On the afternoon of February 11, speaking at the conference on developing science and technology, innovation and high-quality human resources to promote economic growth, Prime Minister Pham Minh Chinh requested to review institutional obstacles, policy mechanisms, and immediately pilot a number of policies to remove difficulties and obstacles for science and technology, while raising awareness of the whole society about science and technology, innovation and digital transformation.
According to the Prime Minister, it is necessary to promote infrastructure development, including digital infrastructure, information technology infrastructure, and transport infrastructure.
Diversify resources, increase socialization; innovate and diversify training forms; governance must be smart, optimize management, eliminate the mechanism of asking and giving, cumbersome procedures, increase decentralization and delegation of power; promote international cooperation and integration; closely coordinate between local ministries, institutes and schools and develop an innovation ecosystem...
Also at the conference, mentioning the issue of human resources in the field of artificial intelligence, Director of NVIDIA Vietnam Vu Manh Cuong said that he is working with many domestic universities and businesses to train students.
Accordingly, NVIDIA wants to train a large number of Vietnamese students in depth, so it needs a number of high-quality lecturers.
The program needs training in all three areas: upgrading, retraining, new training and high-quality training. However, there needs to be a support program from the State, combined with orders from large enterprises such as Viettel, FPT...
General Director of Samsung Vietnam R&D Center Suk Ji-won recommended that the Government should have incentive policies to recruit foreign managers and experts with the task of training and nurturing talents, such as visa support or tax exemptions, housing, health care and education support for the families of foreign experts, creating conditions for them to participate in training talents in a stable and long-term manner in Vietnam.
In addition, it is necessary to improve the investment environment to encourage FDI enterprises to actively invest in high-tech industries such as artificial intelligence and semiconductors...
Minister of Education and Training Nguyen Kim Son said that there should be preferential tax policies, access to loans for higher education institutions and investors in higher education, and financial support policies to attract more excellent students to study STEM majors...
Minister of Public Security Luong Tam Quang also said that it is necessary to invest in synchronous development of information technology infrastructure, national digital transformation associated with data protection and improving cybersecurity capacity.
At the same time, it is necessary to perfect policies and regulations to ensure information security, data security and intellectual property protection for high-tech technology and products. Along with training, there is a breakthrough in training and developing high-quality human resources.
'Discovering' the growth pillar of over 8%Source: https://tuoitre.vn/don-von-cho-cac-dong-luc-tang-truong-2025021208004988.htm
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