On November 7, 2018, the Governor of the State Bank of Vietnam (SBV) issued Document No. 8424/NHNN-TTGSNH on the enhancement of the coordination in the implementation of Resolution No.42/2017/QH14, to be sent to the Chairpersons of the People’s Committees of the provinces and centrally-controlled cities.
Accordingly, the SBV requested the Chairpersons of the People’s Committees of the provinces and centrally-controlled cities to further support the credit institutions and VAMC in their non-performing loan (NPL) resolution and implementation of the comprehensive measures, thus contributing effectively to the implementation of Resolution 42. The SBV also requested the local authorities and other relevant entities to continue to cooperate closely with the SBV local branches to implement Resolution 42, facilitate credit institutions to resolve NPLs and the collateral assets of bad debts.
In case of any newly-emerging difficulties and obstacles in the implementation of Resolution 42, the People’s Committees are requested to coordinate with the SBV and/or other competent agencies to resolve and promptly report to the Government any difficulties and obstacles which are beyond their authorities or capabilities.
Le Hang