On June 09, 2022, at the headquarters of the State Bank of Vietnam (SBV), SBV Deputy Governor Pham Thanh Ha had a meeting with Mr. Tim Evans, Chief Executive Officer (CEO) of the HSBC Vietnam.
At the meeting, Deputy Governor Pham Thanh Ha highly appreciated the support and contributions of Mr. Tim Evans, not only as CEO of the HSBC Vietnam but also as the former Chairman of the Banking Working Group (BWG), to the SBV and the whole banking industry over the past years.
On behalf of the HSBC Vietnam, Mr. Tim Evans congratulated Vietnam on its impressive results in the fight against the COVID-19 pandemic and the quick economic recovery. Especially, the CEO of the HSBC Vietnam made high evaluation for the SBV’s performance in managing the monetary policy in the context of increasing inflation worldwide.
Talking about potential support for the Government's green growth strategy, Mr. Tim Evans announced a plan to mobilize a credit package worth USD 12 billion over the next 9 years to support Vietnam’s realization of its commitments at COP26. Until now, the HSBC has successfully mobilized about USD 1.3 billion (more than 10% of the total credit package) to support the companies in green investments, shifting the production structure towards green and sustainability. Mr. Tim Evans also updated the SBV Deputy Governor on the HSBC's support to the relevant Government ministries and agencies, such as supporting the Ministry of Finance in the issuance of green bonds; supporting the Ministry of Natural Resources and Environment in developing a green and emission-neutral portfolio.
SBV Deputy Governor Pham Thanh Ha speaks at the meeting.
At the meeting, SBV Deputy Governor Pham Thanh Ha confirmed that the credit package mobilized by the HSBC would be a useful resource to help Vietnam to move closer towards the Net Zero target, in line with the roadmap of the banking industry towards emission neutrality. The SBV Deputy Governor emphasized that the SBV has been actively working with the international financial institutions to mobilize the needed financial/credit resources for the promotion of green economy and green growth; trying to raise the ratio of green credit over the total credit outstanding higher than the current modest figure of about 5%. The Deputy Governor also informed the HSBC Vietnam side about the tasks assigned to the SBV in the implementation of the National Strategy on Green Growth for the 2021–2030 Period, and Resolution No. 54/NQ-CP in 2022 of the Government on the economic restructuring plan for the period of 2021–2025.
Mr. Tim Evans, CEO of the HSBC Vietnam, speaks at the meeting.
About the SBV’s proposal to organize a Conference to mobilize more international resources for green growth and sustainable development, Mr. Tim Evans assessed that the resources needed to fulfill all of Vietnam's COP26 commitments would be huge, requiring the strong cooperation, sharing and support from a lot of international financial institutions and international organizations. Therefore, the HSBC Vietnam is very supportive of the initiative to organize such event. In the coming time, with its position as a big, reputable and long-established bank in Vietnam and around the world, the HSBC is willing to share with the SBV its international experience and best practices, support the implementation of training courses and the communication to raise awareness about green growth/green credit, as well as introduce and support the SBV to join the international networks in this area in order to leverage all development opportunities.
At the end of the meeting, the two sides agreed to further maintain the existing policy dialogues and share both sides’ views on the domestic and international issues in the coming time, and thereby consolidating and further developing the good cooperative partnership between the SBV and the HSBC Vietnam.
LK