Concentrating capital resources, promoting economic growth in the Mekong Delta

The provinces and cities in Region 14 have vibrant rice and seafood production and trading activities, with many products contributing significantly to the national export turnover. However, this region has a lower credit growth rate than the national average, and the locally mobilized capital of credit institutions meets about 77% of the credit growth in the region.

Establishment of State Bank Branch Region 14

On the morning of March 25, in Can Tho City, a conference was held to announce the decision of the State Bank of Vietnam (SBV) on the establishment of SBV Region 14 (including Can Tho, Hau Giang, Soc Trang, Vinh Long and Bac Lieu) and the decision to appoint leaders of Branch Region 14.

According to Director of the Department of Organization and Personnel (SBV) Tran Thu Huyen, implementing Resolution No. 18-NQ/TW dated October 25, 2017 of the 6th Central Conference of the 12th tenure on a number of issues on continuing to innovate and reorganize the apparatus of the political system to be streamlined and operate effectively and efficiently, the SBV has thoroughly grasped the spirit of urgency, implemented resolutely and effectively with the highest political determination throughout the system. In a very short time, the entire SBV system has united, unified, agreed, highly determined and basically completed the reorganization of the apparatus, ensuring the right roadmap.

To ensure the full implementation of the State management function on currency, banking and foreign exchange activities, and the implementation of the Central Bank function of the State Bank for the economy in provinces and cities, the State Bank has completed the reorganization of 63 State Bank branches in provinces and cities into 15 regional State Bank branches, ensuring the implementation of State management, payment activities, monetary security, and treasury for the banking system.

Of which, the State Bank of Vietnam Region 14 includes 5 provinces: Can Tho, Hau Giang, Bac Lieu, Soc Trang, Vinh Long. The State Bank of Vietnam region headquarters is located in Can Tho.

At the Conference, Governor of the State Bank of Vietnam Nguyen Thi Hong presented the Decisions on transfer and appointment to the position of Deputy Director of the State Bank of Vietnam Region 14 to comrades: Ly Nhat Truong - Director of the State Bank of Vietnam Vinh Long Branch, Le Thanh Tien - Deputy Director of the State Bank of Vietnam Hau Giang Branch, Tran Van Duong - Deputy Director of the State Bank of Vietnam Soc Trang Branch, Ho Canh Liem - Head of the Payment and Synthesis Department of the Payment Department.

Previously, comrade Tran Quoc Ha - Director of the State Bank of Vietnam, Can Tho branch, was awarded the Decision on acting Director of the State Bank of Vietnam, Region 14.

Boosting bank credit, promoting economic growth in region 14

Statistics show that, as of the end of February 2025, the total outstanding credit balance in provinces and cities in Region 14 is estimated at VND 387,350 billion, an increase of 0.42% compared to the end of 2024 (lower than the general credit growth rate of the whole country by 0.8%), accounting for 31.73% of the total outstanding debt of the Mekong Delta region, accounting for about 2.46% of the total outstanding debt of the economy.

In the first months of this year, in the context of the entire political system streamlining its apparatus according to the Politburo's policy, all levels and sectors still promoted economic growth to strive for 8% or more to prepare for the double-digit growth period for many years to come.

The Government assigns and quantifies economic growth for each province and city. The provinces and cities in region 14 are assigned by the Government a target of 8-9% growth in total product in the area.

Governor Nguyen Thi Hong said the banking sector will transfer capital from other regions of the country to areas lacking business capital to promote economic growth in the Mekong Delta.

Governor Nguyen Thi Hong gave a speech at the Conference.

To promote credit growth in the region, in the coming time, the State Bank will continue to synchronously implement solutions on monetary and credit policy management, focusing on directing credit institutions in the area. On the basis of closely following the policies, resolutions, and socio-economic development programs of the locality.

Governor Nguyen Thi Hong requested banks to continue implementing solutions to stabilize deposit interest rates and reduce costs, and increase the application of information technology to lower lending interest rates.

Accordingly, credit growth will be promoted from the beginning of 2025, directing credit to production and business sectors, priority sectors, and growth drivers; and credit will be strictly controlled in sectors with potential risks.

In particular, credit institutions build credit products for industries and fields that are suitable for the credit institution's business strategy and ability to balance resources.

At the same time, promote credit investment in feasible key projects and works to serve the socio-economic development of the region and the locality's strong sectors and fields, focusing on promptly meeting the loan capital needs of people and enterprises producing, processing, purchasing, storing, and consuming key export products.

Enterprises in the Mekong Delta region said that in recent times, the banking sector has actively supported the economy, highly appreciating the credit packages that have helped many enterprises have more opportunities to recover and contribute to economic development.

Mr. Nguyen Van Nhut - Director of Hoang Minh Nhut Rice Company admitted that the business cannot operate without banks and banks have witnessed the ups and downs of the business. Because the cost of interest on loans accounts for a very large proportion of rice production and business, stable interest rates are very important for the business.

Rice enterprises highly appreciate the preferential interest rate policies of banks. Sharing the secret to accessing bank capital, the representative of Hoang Minh Nhut Company said that to do this, enterprises need to have a clear and transparent financial plan and production and business plan.

In addition, businesses need to report to competent authorities to remove regulations related to bank mortgage activities, thereby allowing banks to flexibly use assets to secure loans instead of only prioritizing the use of real estate.

Concluding the Conference, Governor Nguyen Thi Hong said that the banking sector has recently reduced interest rates but still has to maintain macroeconomic stability, including controlling inflation at a reasonable level, ensuring major balances of the economy.

Governor Nguyen Thi Hong requested functional departments and credit institutions to record enterprises' opinions reflecting on issues related to interest rates, mortgaged assets, access to bank capital, etc.

Source: https://baodaknong.vn/tap-trung-nguon-von-thuc-day-tang-truong-kinh-te-dong-bang-song-cuu-long-247153.html