Delegates attending the Government Standing Committee Conference work with commercial banks on the morning of February 11 - Photo: VGP/Nhat Bac
According to Ms. Nguyen Thi Phuong Thao, in 2025, the Government is setting a target of GDP growth of over 8%, macro stability, promoting new double-digit growth drivers from 2026 - the beginning of the era of national development. This is a symbol of the will and aspiration for Vietnam to become an economic nation, a new growth pole of the region.
Vietnam has weathered the COVID-19 pandemic with great courage. Stable growth, sustainable exports, strong production, continued FDI inflows, and industry-wide credit growth of more than 15%, the highest in 5 years. These are the results of the drastic, specific, and timely direction of the Government, the Prime Minister, and the State Bank.
In addition to the Government's drastic directions, the State Bank has proactively followed domestic and foreign market developments to synchronously and drastically manage monetary and credit policy solutions to remove difficulties, create favorable conditions for businesses and people to access bank credit capital, develop production and business, promote economic growth associated with macroeconomic stability, and control inflation.
Sharing about the results achieved by HDBank and her belief in the Government's policies, Ms. Nguyen Thi Phuong Thao said that in 2024, the Government and the State Bank of Vietnam have resolutely implemented the step of transferring 4 weak banks to banks with strong resources and financial capacity.
Most notably, in January 2025, the Government issued a resolution and the State Bank of Vietnam decided to transfer Dong A Commercial Joint Stock Bank to HDBank: "For us, this is an honor and responsibility of HDBank in accompanying the Government and the State Bank of Vietnam to ensure the safe and sustainable development of the national financial and banking system".
According to Ms. Nguyen Thi Phuong Thao, in 2025, the Government is setting a target of GDP growth of over 8%, macroeconomic stability - this is a symbol of the will, of the aspiration for Vietnam to reach the level of an economic nation, a new growth pole of the region - Photo: VGP
HDBank accelerates and breaks through
Contributing to the overall development of the entire banking industry, HDBank has been on a journey of continuous innovation for over 10 years, with a high growth rate, an average of 25-30%/year, good asset quality, safe and sustainable financial indicators.
In 2024, HDBank will have total assets of nearly VND 700 trillion, serving more than 30 million customers in 63 provinces and cities, with a capital safety ratio of over 14%; the bad debt ratio is controlled below 1.5%; providing the economy with about VND 420 trillion in credit capital.
In 2024, HDBank will contribute VND 5,200 billion to the budget. HDBank has contributed over VND 15,000 billion to the budget (excluding land use fees) and created 24,000 jobs in the banking industry, and over 40,000 jobs in enterprises.
In particular, HDBank in particular and Sovico Group in general have actively participated in foreign affairs and economic activities. Through the recent meeting with President Donald Trump, the company is implementing a contract worth 48 billion USD and is negotiating to increase it to 64 billion USD, creating nearly 500,000 jobs for Americans.
The Government's general target is GDP growth of 8% in 2025, the State Bank of Vietnam sets the general credit growth target for the whole industry at 16%. Based on that mission, HDBank, in addition to increasing capital supply, outstanding loans for traditional areas continue to grow and account for the main proportion of total outstanding loans such as rural agriculture, remote areas, small and medium enterprises, supply chains, industrial real estate, social housing, and microfinance.
Restructuring Dong A Bank Limited to become a new generation digital bank, thereby supporting businesses and people across the country, especially small and medium enterprises, to access capital at the lowest cost with the simplest procedures through digital channels.
Support to promote and provide capital for businesses in programs to improve labor productivity and apply technology such as AI, Bigdata, Blockchain.
Participate in funding projects to promote public investment, transport infrastructure, logistics, highways, aviation infrastructure, and seaports. Funding smart logistics systems, reducing transportation costs, and improving the competitiveness of Vietnamese enterprises. Funding tourism and service enterprises, prioritizing the application of digital technology, connecting with modern consumer ecosystems in the world.
"We support the exploration of new growth-generating areas. We prioritize funding for digital transformation activities, building a digital economy, developing cashless payments, promoting e-commerce, digital finance, and digital banking," said Ms. Thao.
Promote green credit, invest in renewable energy and smart infrastructure, circular economy. Establish and support the operation of AI investment funds, innovation and Blockchain investment funds to build "Make-in-Vietnam" technology products. Prepare funding sources for businesses, prioritizing the semiconductor and high-tech sectors.
Implement cashless payment solutions and encourage the use of public transport to reduce costs, increase transparency, promote e-commerce, increase labor productivity, reduce traffic congestion, reduce environmental pollution and develop sustainable public transport.
Solutions for strong growth
In order to go along with the Prime Minister's goal of upgrading the stock market, there needs to be a sustainable solution to harmonize bank credit and the capital market, creating a balanced driving force, supporting long-term growth until 2030. At the same time, in order to further promote growth, HDBank representative, Ms. Nguyen Thi Phuong Thao proposed a number of recommendations to the Government to promote the development of the capital market, reducing pressure on bank loans.
Firstly, it is necessary to provide quick and timely support to HDBank according to the approved compulsory transfer plan, to quickly restore operations and increase credit supply and banking services for businesses and people.
Second, it is recommended that the State Bank continue to maintain stable interest rates to facilitate businesses' access to capital. Support interest rates for social housing investment programs and credit for workers. Have a mechanism to encourage the development of digital credit, operate flexible and stable exchange rates to attract investment and promote exports, and exploit the EVFTA, CPTPP, and RCEP agreements.
"We are facing a decisive moment when growth of over 8% is not a distant dream, but a feasible goal, the foundation of the next stage of sustainable development with double-digit GDP growth, when there is drastic action, and the consensus of the entire system. The Government has pioneered, businesses must innovate, banks must accompany. We will make a strong breakthrough, not afraid of challenges" - Founder, Permanent Vice Chairman of HDBank emphasized.
Source: https://baochinhphu.vn/ty-phu-nguyen-thi-phuong-thao-khong-ngai-thach-thuc-thi-se-but-pha-manh-me-10225021117011992.htm
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