Deputy Chief Inspector of the State Bank of Vietnam appointed Director of the State Bank of Vietnam Region 5

Deputy Governor of the State Bank of Vietnam Doan Thai Son presented the decision and congratulated the leaders of the State Bank of Vietnam Region 5, including 6 provinces of Thai Nguyen, Bac Ninh, Bac Giang, Cao Bang, Bac Kan and Lang Son - Photo: VGP/HT

According to the decision of Governor of the State Bank of Vietnam Nguyen Thi Hong, the State Bank of Vietnam Region 5 was established on the basis of merging the State Bank branches of six provinces: Thai Nguyen, Bac Ninh, Bac Giang, Bac Kan, Cao Bang, Lang Son. The head office is located in Thai Nguyen and the organizational structure includes 7 specialized departments. The total number of civil servants, public employees and workers at the State Bank of Vietnam Region 5 after the reorganization is 219 people, down from 249 people before. The streamlining of the apparatus helps improve operational efficiency, focusing on management, supervision and unified monetary policy operation.

SBV Region 5 includes: Mr. Le Quang Huy, Deputy Chief Inspector of SBV, holding the position of Director of SBV Region 5; 6 Deputy Directors of SBV Region 5 include: Mr. Bui Van Khoa, Mr. Nguyen Thac Quang, Mr. Doan Sy Quy, Mr. Hoang Van Cao, Ms. Vi Thi Hoa and Ms. Le Thi Hoang Ha.

Deputy Governor of the State Bank of Vietnam Doan Thai Son speaks - Photo: VGP/HT

Speaking at the announcement ceremony, Deputy Governor Doan Thai Son said: Implementing the direction of the Politburo, the Secretariat, the Government and the Prime Minister, the SBV has completed the arrangement of 63 provincial SBVs into 15 regional branches since March 1, 2025. Although it has only been more than 3 months, the SBV and the entire political system have made efforts to organize, rearrange and streamline the apparatus not only at the Central Bank but also at the SBV branches in provinces and cities. This is an important turning point, marking a major change in the SBV system.

"Changes in the organization, from changing job positions, downgrading management positions to changing work positions between provinces. These changes require great sacrifices from officials and civil servants, especially those holding leadership and management positions. They have been exemplary and proactive in making sacrifices, willing to retire early or take on lower positions to stabilize the organization," the Deputy Governor expressed.

Region 5 – comprising 6 provinces – will focus on developing key industries such as mechanical engineering, trade, goods services and sustainable tourism. In addition, this region also plays an important role in the economic corridor connecting Lang Son – Bac Giang with the capital Hanoi and major economic centers such as Nanning and Chongqing (China). With the goal of becoming the cultural and economic center of the North, this region has up to 39,000 operating enterprises, attracting more than 55,000 billion VND of FDI capital into 461 industrial park projects.

Although the banking system in the region has achieved positive results with credit institutions and a wide network of transaction offices, there are still many difficulties and challenges. In fact, credit growth in the region is still low, showing that some businesses and people still have difficulty accessing bank capital, especially credit for social housing.

According to the SBV leader, this event marks an important turning point in the process of streamlining the apparatus and improving the efficiency of state management of currency, banking and foreign exchange. This event not only affirms the SBV's commitment to implementing major policies of the Party and Government, but also opens up new opportunities for economic and financial development in the Northern region.

This not only helps reduce administrative burden, but also creates conditions for the State Bank to have a more comprehensive view of the financial market in each region, thereby developing appropriate management policies. In addition, the new model also helps optimize human resources, improve monitoring capacity and ensure monetary security, especially in the context of the financial market increasingly developing and integrating deeply with the world.

In addition to organizational consolidation, the State Bank of Region 5 also focuses on promoting bank credit to contribute to regional economic growth and meet the capital needs of businesses and people. However, in addition to opportunities, there are still many challenges in the operation and implementation of monetary policy in this region.

Mr. Le Quang Huy - Director of State Bank of Vietnam Region 5 speaks - Photo: VGP/HT

Mr. Le Quang Huy - Director of the State Bank of Vietnam Region 5 commented: The policy of promoting bank credit to support economic growth is also completely consistent with the Government's socio-economic development orientation in 2025. Solutions to lower interest rates, promote green credit, agricultural credit, and support small and medium enterprises will continue to be vigorously implemented by the State Bank of Vietnam Region 5 in the coming time.

However, to achieve this goal, there needs to be close coordination between the State Bank of Region 5 with local authorities, credit institutions and the business community. Only with consensus and joint efforts can the banking system perform its role well, contributing to macroeconomic stability and promoting sustainable growth.

Previously, at the Conference to announce the decision to establish the State Bank Party Committee and the Decision on the organization and personnel of the State Bank (SBV), SBV Governor Nguyen Thi Hong noted: Regional SBV Directors have a higher management requirement than the previous provincial SBV Directors, and need to enhance the ability to connect and coordinate with the People's Committees and People's Councils of the region.

The head of the State Bank of Vietnam requested that unit leaders pay attention to building work programs and new points in coordination and operation methods to ensure efficiency.

"It is necessary to ensure overall responsibility for state management activities in the area, personnel management, and have a systematic, scientific, and effective management assignment. If there are any problems, they must be promptly reported and discussed. The SBV leaders also have a plan to work with the newly established regional SBV leaders to effectively implement the new tasks," said the SBV leader.

Mr. Minh

Source: https://baochinhphu.vn/pho-chanh-thanh-tra-nhnn-lam-giam-doc-nhnn-khu-vuc-5-102250318160529588.htm