Following the success of the Bank-Enterprise Connection Conference held in Hanoi on April 18, 2019, the State Bank of Vietnam (SBV) organized another Bank-Enterprise Connection Conference in Ho Chi Minh City (HCMC), which was co-chaired by Deputy Governor Dao Minh Tu of the SBV and Mr. Le Thanh Liem, First Vice Chairman of HCMC People’s Committee. The Conference aimed at removing difficulties in accessing capital sources for the businesses, focusing capital on production and business operations, and contributing to the acceleration of the local economic growth.
Bank-Enterprise Connection Conference in Ho Chi Minh City
The event is a part of a series of the Bank-Enterprise Connection Conferences organized in Hanoi, HCMC and Da Nang by the SBV in coordination with the local municipal People's Committees. In implementing the Government's Resolution No.35/NQ-CP dated May 16, 2016 on supporting and developing enterprises to 2020 and the instructions of the Government and the Prime Minister, the SBV has formulated the Action Plans of the banking industry, drastically implemented the measures to improve the business environment and the national competitiveness, with a view to facilitating the development of enterprises. With the efforts of the whole banking system, the credit outstanding of the economy by the end of 2018 increased by nearly 14%, and in the first 3 months of 2019 it continued to increase by 2.8% compared to the end of 2018.
Deputy Governor Dao Minh Tu speaks at the Conference
HCMC has been actively implementing a lot of activities to support the businesses, and especially has taken the national lead in effectively implementing the Bank-Enterprise Connection Program. The results of this Program have contributed to helping HCMC achieve the credit growth of 14.69% at the end of 2018, with the loan outstanding for SMEs reached VND 346,248 billion, thereby contributing to HCMC’s economic growth of 8.3%.
The above results have shown the efforts of the banking industry and the enterprises over the past time, contributing significantly to the development of HCMC’s economy as well as the performance of the Bank-Enterprise Connection Program.
In order to improve the efficiency of specific credit programs targeted to supporting the businesses, promptly removing the difficulties and meeting the capital needs for production and business development, according to Deputy Governor Dao Minh Tu, in the coming time, the banking sector would continue to manage the monetary policies in an active and flexible manner, contributing to controlling inflation and stabilizing the macro-economy to create a favorable business environment for enterprises; continue to drastically implement the tasks and solutions in the Banking Sector's Action Plan on improving the business environment and the national competitiveness in accordance with Resolutions No.19, No.35, and No.02 of the Government, creating favorable conditions for businesses’ accessibility to bank loans.
In addition, the banking sector would continue to implement solutions to support the credit institutions to focus on production and priority areas; at the same time, the sector would strictly control credit for potentially risky areas, and regularly coordinate closely with the local authorities to remove the obstacles and difficulties for the enterprises; direct the credit institutions to promote the implementation of the credit programs and policies under the direction of the Government and the SBV; continue to review and improve the lending processes, lending procedures, and diversify the banking products and services.
Moreover, the SBV would continue to coordinate with the line ministries, agencies and local authorities to develop and improve the mechanisms and policies, and effectively implement the credit programs for different sectors and areas in accordance with the Government’s orientations; improve and synchronously implement policies to support SMEs, especially policies on credit guarantees for SMEs to borrow from the credit institutions, and support capital through the SME Development Fund.
Le Hang