Bank leaders propose solutions to promote credit growth

Speaking at the Conference on implementing monetary policy management tasks in 2024 on March 14, Mr. Pham Duc An, Chairman of the Board of Directors of Agribank, said that in order to contribute to promoting economic growth, it is necessary to solve issues related to public investment, fiscal policy, etc.

Mr. An said that in order to thoroughly handle the problem, it is also necessary to conduct direct surveys of typical problems to handle them, thereby proposing common solutions to quickly resolve the shortcomings and increase disbursement opportunities for the banking system.

In addition, the State also needs to soon have policies to support and encourage investment in production development to meet competitive requirements in the context of increasingly stringent environmental standards of goods importing countries.

Finance - Banking - Bank leaders propose solutions to promote credit growth — Mr. Pham Duc An, Chairman of the Board of Directors of Agribank, spoke at the Conference (Photo: VGP).

Mr. Phan Duc Tu, Chairman of BIDV, suggested that the Government continue to direct ministries and branches to make efforts to perfect the institutions just approved by the National Assembly; perfect policies to improve the business environment and promote market development.

BIDV also requested the Government to continue directing the acceleration of public investment disbursement and implementing policies to support businesses.

At the same time, it is recommended that the State Bank and relevant ministries and branches continue to improve the legal framework for digital transformation and provide products and services through electronic means in banking activities; strengthen direction and create conditions for non-bank credit institutions to improve their credit granting capacity for the economy.

Finance - Banking - Bank leaders propose solutions to promote credit growth (Figure 2). — Mr. Phan Duc Tu, Chairman of BIDV, spoke at the Conference (Photo: VGP).

Ms. Nguyen Thi Phuong Thao - Vice Chairwoman of HDBank's Board of Directors said that credit growth should go hand in hand with reviewing financial policies, exempting and extending taxes, fees, charges and land rents to support people and businesses; adjusting personal income tax rates to "ease people's burdens" and increase consumption capacity.

HDBank recommends that the Government Working Group, ministries, local authorities and the banking sector resolutely implement measures to remove obstacles in licensing procedures for businesses implementing investment projects in the fields of real estate, production and business, creating jobs and thereby supporting credit disbursement.

At the same time, it is necessary to restore confidence soon so that the corporate bond market can develop again, in addition to capital from banks so that businesses and projects have long-term, sustainable capital. Support the lending sector for rural agriculture, women, startups, and the unskilled labor sector, and loosen regulations on assets to secure debt repayment.

"All different economic sectors should gather together under organizations such as associations, industry-combined conferences such as: aviation, tourism, real estate, services," said Ms. Thao.

According to Mr. Nguyen Duc Vinh, General Director of Vietnam Prosperity Joint Stock Commercial Bank (VPBank), he expressed his wish that the State would have a separate program to support with fiscal policies, because credit policy alone is not enough.

Mr. Vinh also proposed a solution to the problem of debt settlement because banks not only cannot recover assets and do not dare to lend, but also increase costs and capital. The field of bad debt settlement must be an object of great concern to the State, there needs to be a separate Law to handle bad debt and at the same time propose to extend Resolution 42 .

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