In the morning of March 12, 2025, in Da Nang City, the State Bank of Vietnam (SBV) held a ceremony to announce the Decision on the establishment of the SBV Regional Branch No.9, while also hosting a conference on promoting the banks’ credit in support of the economic development in the region.
Deputy Governor Pham Tien Dzung speaks at the conference
Deputy Governor Pham Tien Dzung speaks at the conference
The events were attended by SBV Deputy Governor Pham Tien Dzung, Mr. Ho Ky Minh, Vice Chairman of Da Nang City People's Committee, and many other participants representing the government agencies, the People's Councils, the National Assembly delegations, the relevant departments, and the banks operating in the region. There were also many leaders from the state-owned commercial banks, the joint-stock commercial banks, Vietnam Bank for Social Policies, Vietnam Deposit Insurance, as well as leaders of the credit institutions’ branches operating in the region.
Announcement of the Decision establishing SBV Regional Branch No.9
The establishment of SBV Regional Branch No.9 is part of the efforts to implement Resolution No.18-NQ/TW of the 6th Plenum of the 12th Central Executive Committee, aiming to continue reforming and reorganizing the political system's apparatus. Following the Central Executive Committee's directions, the SBV has been working to consolidate its organizational structure and reorganize its provincial and municipal branches into 15 regional branches. Regional Branch No.9’s area of responsibility covers the city of Da Nang and the provinces of Quang Tri, Thua Thien-Hue, Quang Nam, and Quang Ngai, with the head office of the SBV Regional Branch located in Da Nang City.
Mr. Ho Ky Minh, Vice Chairman of Da Nang City People's Committee, speaks at the conference
Previously, on February 24, 2025, the SBV had announced the Governor’s Appointment Decisions of the leaders of the SBV Regional Branch No.9. Accordingly, Mr. Le Anh Xuan was appointed as Director of the SBV Regional Branch No.9, while Mr. Vo Minh, Mr. Nguyen Duc Dong, Mr. Pham Trong, Mr. Dinh Van Cong, and Mr. Pham Ba Nam were appointed as Deputy Directors.
Speaking at the ceremony, Deputy Governor Pham Tien Dzung stated that Region 9 is home to many important coastal economic zones, capable of connecting the economic development of Vietnam's coastal regions with dynamic economic centers in the region and the world. The area is rich in mineral resources, which serve as inputs for several industries. The potential for both aquaculture and marine fisheries in this region is also significant. Additionally, the region has considerable potential for offshore wind and wave energy, making it suitable for developing clean energy industries. Da Nang is also in the process of establishing a Free Trade Zone and an International Financial Center. Therefore, this region has great potential to attract capital and achieve a high credit growth in the coming period.
According to the Deputy Governor, to contribute to achieving the government's target of at least 8% economic growth, the SBV has set a national credit growth target of 16% for 2025 (an increase of 2,500 trillion VND). For Region 9, under Resolution 25/NQ-CP dated February 5, 2025, the Government has assigned a GRDP growth target of 8%-10% for the five provinces in the region. This is a challenge that requires the concerted efforts of the entire banking sector, the cooperation from the customers and businesses, and the strong support from the political system, especially the attention of the local authorities.
Mr. Le Anh Xuan, Director of the SBV Regional Branch No.9, speaks at the conference
With this spirit, the SBV, in collaboration with Da Nang City People's Committee, organized the conference "Promoting Banks’ Credit to Contribute to Economic Growth in Region 9". Through the conference, the organizers hoped that the participants would exchange and discuss to assess the current situation, identify opportunities, advantages, challenges, and existing issues, and then propose possible solutions to boost the credit growth, contributing to achieving the economic growth target for 2025.
Promoting credit to contribute to the economic growth in Region 9
2025 has been identified as a crucial year for the banking sector, particularly in promoting credit to support the economy. The SBV has announced a credit growth target of 16% for 2025, aiming to create favorable conditions for the credit institutions to expand credit and meet the capital needs of businesses and the people. The measures being implemented include administrative procedure reforms, enhancing the digital transformation, expanding cashless payments, and reducing the lending interest rates to support the priority sectors.
At the conference, the participants discussed about credit growth performance in Region 9, focusing on promoting credit for the priority sectors such as manufacturing, transportation, social housing, and the key projects. Specifically, Region 9 is assessed to have significant development potential due to its coastal economic zones, fisheries, clean energy, and other industries.
According to Mr. Le Anh Xuan, Director of the SBV Regional Branch No.9, with the total credit outstanding in Region 9 reaching 581,602 billion VND by the end of January 2025, accounting for 3.72% of the total credit outstanding of the economy, the SBV has developed a specific work program to enhance the credit efficiency, including implementing various support measures and addressing the difficulties for the credit institutions and businesses. By the end of February 2025, the credit outstanding of the credit institutions in the region was approximately 586,381 billion VND, an increase of 1.36% as compared to the end of 2024.
Deputy Governor Pham Tien Dzung presents flowers to congratulate the establishment of the SBV Regional Branch No.9
Identifying 2025 as a year of acceleration and breakthroughs to achieve the highest socio-economic development goals for the 2021-2025 period and aiming for a double-digit growth in the 2026-2030 period, Mr. Xuan stated that the SBV Regional Branch No.9 had identified the key tasks and solutions to focus on, in line with Directive 01/CT-NHNN on organizing the implementation of the key tasks of the banking sector in 2025, Directive 02/CT-NHNN on promoting the digital transformation and ensuring the information security in the banking operations in 2025, and other directions of the SBV at the specific times.
Specifically, the banking sector in Region 9 will focus on providing credit to production and business sectors and the priority areas as per the Government's policy; continue to strictly control credit in high-risk areas; facilitate access to bank credit for the people and businesses; ensure compliance with the legal regulations; and contribute to limiting black credit. In addition, the banking sector in the Region will actively participate in and effectively implement the Bank-Enterprise Connection Program through appropriate means (conferences, meetings, exchanges) to engage in direct dialogues and address any difficulties and obstacles related to accessing bank loans. This will promptly resolve any issues, especially in providing credit to the priority sectors and the economic growth drivers as per the Government's policy, as well as to the local sectors with comparative advantages.
Enhancing the implementation of the credit programs as directed by the Government and the Prime Minister, with a particular focus on effectively promoting the 145 trillion VND credit program for social housing, workers’ housing, and the renovation and reconstruction of old apartment buildings under the Government’s Resolution 33/NQ-CP, and the 60 trillion VND credit program for the forestry and fisheries sectors,…
With strong commitment, the SBV pledges to promote the development of Region 9 while helping the credit institutions in the region achieve the credit targets. The conference also affirmed the importance of the close coordination among the competent agencies and departments in implementing the policies to stimulate investment and consumption, promoting a sustainable economic growth for the region.
The leaders of several commercial banks, such as Agribank and Vietcombank, also proposed possible solutions regarding the credit packages, the credit programs, and other measures to remove the difficulties for businesses. A representative from the BIDV Quang Nam provincial branch also recommended that the local authorities and the competent departments enhance their support in resolving the collaterals for bank loans...
With the determination of the SBV and the relevant sectors, Region 9 is expected to continue to be a crucial driver for the economic development of the Central region and the entire country. The credit solutions discussed at the conference would serve as an important foundation for promoting a sustainable economic growth, as well as for supporting businesses and the people in accessing bank credit effectively and conveniently.
HM