On October 4, 2023, the State Bank of Vietnam (SBV) organized a Bank-Enterprise Connection Conference in Thai Nguyen province. SBV Deputy Governor Pham Thanh Ha and a Vice Chairman of Thai Nguyen Provincial People’s Committee (PPC) co-chaired the Conference.
Regarding the credit accessibility and the capital absorption of the economy, Deputy Governor Pham Thanh Ha shared that, in the 9 months of 2023, the SBV had organized twelve conferences and meetings to discuss and issued eleven guiding documents on solutions to improve the credit accessibility applied to a number of subjects, industries and fields, as well as on the interest rates and the fees of the banking services.
In addition, the SBV has also organized several seminars to find out possible solutions to increase the credit absorbability. Especially, there had been 63 Bank-Enterprise Connection Conferences organized in the cities and provinces to listen to the voices of the businesses and the people, and to seek solutions to resolve the current difficulties, especially in relation to the credit access.
According to the SBV Deputy Governor, with the enormous efforts of the SBV, the overall credit growth nationwide has changed positively, with the growth of each month is higher than that of the previous month. As of September 29, 2023, the credit growth was up by 6.92% as compared to the end of 2022, with significant increases of credit for a number of priority sectors.
An overview of the Conference
According to Deputy Governor Pham Thanh Ha, Thai Nguyen province is one of the economic, political and social centers of the Northern midlands and mountains. It is also the gateway for the socio-economic exchanges between the Northern midlands and mountains and the Northern Delta. In the 9 months of 2023, the socio-economic situation in Thai Nguyen was basically stable, with steady development.
In 2022, the credit growth in Thai Nguyen province reached 15.8%, higher than the common credit growth rate. However, in the 8 months of 2022, the credit growth in the province was only 3.92%, lower than the credit growth rate of 5.56% for the entire banking sector, and lower than that of the same period in 2022 (10.85%).
Accordingly, the SBV Deputy Governor proposed that, in the spirit of companionship and sharing, the Bank-Enterprise Connection Conference in Thai Nguyen province was an opportunity for the SBV and the banks to listen to and exchange about the difficulties and problems faced by the businesses in the province, then to discuss and find possible solutions to continue promoting credit to support the production and business operations, helping the people and the businesses to access bank loans more easily and use them more effectively during the last months of 2023 and in early 2024.
Therefore, in the coming time, to contribute to promoting the production and business operations in Thai Nguyen province, in addition to the solutions implemented by the relevant Ministries, agencies and the local authorities, the SBV representative affirmed that the banking sector would continue to strongly implement the banking and credit solutions in the province, focusing specifically on:
Continuing to implement the solutions to manage the monetary policy and the banking operations with the goals of controlling the inflation, maintaining the macro-economic stability, supporting the economic growth at a reasonable level in collaboration with the credit investment to implement the programs and projects in accordance with the Provincial Plans.
Continuing to implement the solutions to remove the difficulties, support customers, and direct the credit institutions to actively implement the tasks of the banking industry in the Socio-economic Recovery and Development Program, focusing on the 2% interest rate support program through the commercial bank system, and the National Target Programs, etc.
Creating favorable conditions for customers to access credit; directing the credit institutions to continue reducing costs, enhancing digital transformation, applying information technology and other solutions to reduce their lending interest rates for both new and existing loans; actively reviewing and cutting down banking fees to create more favorable conditions for the businesses and the people; proactively developing credit programs and products with reasonable interest rates, etc.
Previously, the SBV had organized two other Bank-Enterprise Connection Conferences in Hanoi (on September 21, 2023) and in Bac Ninh province (on September 28, 2023).
Le Hang