Promoting credit, aiming for regional growth target of 8-12.5%

Conference on Promoting bank credit, contributing to economic growth in region 6 - Photo: VGP/HT

This was the opinion of Deputy Governor of the State Bank of Vietnam Pham Thanh Ha at the Conference on Promoting Bank Credit, Contributing to Economic Growth in Region 6 organized by the State Bank of Vietnam (SBV) on March 21. The conference brought together many local leaders, banks and enterprises to discuss solutions for sustainable economic development.

Boosting credit capital to support regional economic growth

Speaking at the conference, Deputy Governor of the State Bank of Vietnam Pham Thanh Ha noted: In Resolution No. 25/NQ-CP dated February 5, 2025 on growth targets for industries, sectors and localities to ensure the national growth target in 2025 reaches 8% or more, the Government sets a GRDP growth target of 8-12.5% ​​for localities in region 6 (including 5 provinces of Hai Phong, Hai Duong, Hung Yen, Quang Ninh and Thai Binh).

Deputy Governor of the State Bank of Vietnam Pham Thanh Ha speaks at the Conference - Photo: VGP/HT

The State Bank's leaders commented: This is a higher level than the national average, this target requires strong participation of the banking industry and localities to promote growth.

To contribute to achieving the goal, Deputy Governor of the State Bank of Vietnam Pham Thanh Ha said: The State Bank of Vietnam has assigned a credit growth target of about 16% for 2025 from the beginning of the year, and at the same time issued a series of documents directing credit institutions (CIs) to implement effective credit growth solutions.

According to Ms. Nguyen Thi Dung, Acting Director of the State Bank of Vietnam Region 6: By February 2025, regional credit will increase by 1.02%, higher than the national average growth rate. In particular, Hai Phong and Hung Yen are among the groups with the highest credit growth rates in the country, reaching 24.67% and 18.24% in 2024, respectively.

"Banks in the region are actively simplifying procedures and promoting digital transformation to help businesses access capital more easily," said Ms. Nguyen Thi Dung.

From a local perspective, Mr. Nguyen Duc Tho, Vice Chairman of Hai Phong City People's Committee, assessed that the banking sector has recently implemented many solutions to promote credit growth to meet the capital needs of people and businesses, accompanying localities in implementing economic recovery and development programs. In 2024, the regional economic scale will reach more than 1 million billion VND, with a growth rate of 7-11%, Hai Phong alone will have an economic growth of over 11% (ranked 3rd in the country), demonstrating the efforts of the entire political system, people and businesses, including the great contribution of banks.

Mr. Nguyen Duc Tho, Vice Chairman of Hai Phong City People's Committee speaking at the Conference - Photo: VGP/HT

In order to strive to achieve the highest socio-economic development goals and targets for the 2021-2025 period, aiming for double-digit growth in the 2026-2030 period, Vice Chairman Nguyen Duc Tho suggested that in 2025, the banking sector in region 6 focus on implementing a number of contents.

Firstly, continue to implement solutions to manage monetary policy and banking activities with the aim of controlling inflation, stabilizing the macro-economy, and supporting local economic growth.

Second, continue to work with localities to implement solutions to remove difficulties, support customers, and direct credit institutions to actively implement the tasks of the banking sector in specific credit programs and policies for a number of sectors and fields under the direction of the Government and the Prime Minister (145,000 billion VND credit program for loans for social housing, workers' housing, renovation and reconstruction of old apartments; 100,000 billion VND credit program for loans for forestry and fisheries...). Control credit for potentially risky sectors such as real estate, securities, BOT and BT traffic projects; control credit quality and prevent bad debt.

Third, create favorable conditions for customers in region 6 to access credit, direct credit institutions to continue to reduce costs, increase digital transformation, apply information technology and other solutions to create conditions to continue to reduce lending interest rates for both new loans and existing outstanding loans...

Fourth, coordinate with local departments, agencies and sectors to promote the bank-enterprise connection program to enhance information, grasp needs, promptly handle difficulties and problems in credit relations...

Fifth, continue to simplify procedures in transactions with customers to improve access to credit capital and banking services for businesses and people in the area.

Merging 5 branches, launching State Bank of Region 6

In order to streamline the apparatus according to Resolution 18-NQ/TW, the State Bank has restructured its branch system, establishing 15 Regional State Bank branches nationwide. On March 21, the State Bank of Region 6 officially launched, merging branches in Hai Phong, Hai Duong, Hung Yen, Quang Ninh and Thai Binh.

Deputy Governor Pham Thanh Ha presents the appointment decision and congratulates the Board of Directors of the State Bank of Vietnam Region 6 - Photo: VGP/HT

According to the personnel decisions of the State Bank of Vietnam Region 6, Governor of the State Bank of Vietnam Nguyen Thi Hong has transferred and appointed: Ms. Nguyen Thi Dung, Director of the State Bank of Vietnam Hai Phong City Branch to hold the position of Acting Director of the State Bank of Vietnam Region 6; Deputy Directors of the State Bank of Vietnam Region 6 include: Mr. Nguyen Duc Hien, Ms. Nguyen Thi Thanh Binh, Mr. Nguyen Duc Thiep, Mr. Nguyen Minh Chien, Mr. Mai Viet Trung.

SBV Region 6 has its headquarters in Hai Phong, with four satellite locations in the provinces and cities. The organizational structure includes 7 functional departments, with 236 civil servants.

Speaking at the launching ceremony of SBV Region 6, SBV Deputy Governor Pham Thanh Ha emphasized: Reorganizing the apparatus not only helps improve management efficiency but also creates more favorable conditions for credit institutions and enterprises in the region to access capital.

"The merger of State Bank branches helps improve management capacity and create conditions for localities to better exploit investment capital sources. This is considered a strategic step to strengthen monetary and credit management in localities," said a State Bank leader.

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 requested that SBV Regional Directors/Acting Directors be ready to approach and implement new tasks. In particular, the Governor noted that unit leaders need to pay attention to developing work programs and new points in coordination and operation methods.

"In particular, the regional SBV Directors have a management style that requires higher requirements than the previous provincial SBV Directors, and need to enhance their ability to connect and coordinate with the People's Committees and People's Councils of the region. Regional SBV leaders need to ensure that they are responsible for all state management activities in the area, manage personnel, and have a systematic, scientific, and effective management assignment. If there are any problems, they must be promptly reported and discussed. SBV leaders also have a plan to work with regional leaders to effectively implement the new tasks," the SBV leader emphasized.

Huy Thang