On May 24, 2019 at the head office of the Government, the Government’s Steering Board for Administrative Reform organized a Conference to announce the Public Administration Reform (PAR) Index for 2018 of ministries, ministerial-level agencies, the People's Committees of provinces and centrally-controlled cities, as well as the Satisfaction Index of Public Administration Services (SIPAS) for 2018. The State Bank of Vietnam (SBV) was rated at the highest score of 90.57/100 points and continued to rank first in PAR Index 2018. This is the fourth consecutive year that the SBV has achieved the first rank in PAR Index.
The SBV ranked first and achieved positive results in many areas of reform, including: the component index on executive direction and administrative procedure reform. The results of the sociological survey evaluating the impacts of PAR show that the SBV continued to rank first and it is the fifth consecutive year the SBV has led in this indicator. In other component indicators of institutional reform, organizational reform, quality of civil servants and public financial reforms, etc. the SBV continued to hold high rankings.
SBV Deputy Governor Dao Minh Tu speaks at the Conference on announcement of PAR Index 2018
Banking industry takes people and businesses as center in renovating service methods
According to SBV Deputy Governor Dao Minh Tu: the goal throughout the SBV system is to promote 6 areas of PAR associated with renovating the services of the banking sector, which is to take people and businesses as center, making clear changes in improving the business environment in the banking operations. All administrative procedure reforms are essentially solutions to increase access to credit, and banking and monetary services for businesses and the people in the entire process, the conditions and procedures for borrowing and providing banking services. The viewpoint and focus of the SBV is to regulate the monetary policy and promote the administrative reform to ensure the dual targets of promoting the development of the business system and serving the people, as well as minimizing the risks in banking operations, contributing to the macroeconomic stability, improving and creating a positive and sustainable business environment.
Overview of the Conference
Improving business environment, supporting business development
Keeping abreast of the goals and the tasks assigned in Resolution No. 30c/NQ-CP and other Government Resolutions on improving the business environment, improving the national competitiveness, supporting the businesses, following closely the directions of the Government’s Steering Board for Administrative Reform, and with the determination in the direction and administration of the SBV Governor and the joint efforts of the whole banking sector, the SBV has made positive results in all of the 6 areas of the PAR master program as well as the tasks of improving the business environment and supporting the development of businesses. The business conditions, administrative procedures, reporting regimes have been reduced and simplified to the maximum for organizations and individuals. The administrative procedures have been standardized according to ISO standards, meeting the requirements of publicity, transparency, satisfactory and timely resolution. The organizational structure has been re-organized and streamlined and the quality of the civil servants has been enhanced. The public finance reform has contributed to effective and efficient use of the State budget.
The modernization of the administration and the introduction of e-Government have been strengthened and have positively contributed to improving the operational efficiency. The document management operations, the operating methods have been digitized and seamlessly connected with the national communication and document sharing database; the online webminar system has actively served the centralized management and training throughout the system, contributing to promoting the quality and efficiency of work, significantly reducing the administrative costs, travel and meeting costs. For the system of credit institutions, although they are also enterprises, however, as service-providers, the SBV has instructed the CIs to speed up the reform and renovation, and has determined that this is an important group of tasks in the general PAR plan of the banking sector. Following the orientations of the SBV, the system of credit institutions has had many reforms, renovations and has cut down on and abolished many procedures, reduced the interest rates, baking fees, promoted investment and applied technology in providing a variety of e-banking services, facilitating the businesses and the people to access to bank credit and to banking services.
With the efforts to promote PAR in the whole banking industry, the business environment in the monetary and banking sector has improved positively, making an important contribution to improving the national competitiveness. According to the World Bank's Business Environment Report 2019 (Doing Business 2019) published on October 31st, 2018, Vietnam's "Credit Access" index currently ranks 32/190 (rated at 75/100 points), ranking third in the region and on par with Singapore and Malaysia - the top countries in the ASEAN 4 Group. At the same time, Vietnam's Credit Access Index is also one of the two indicators where Vietnam could match the average of ASEAN 4 (along with the Index of Electricity Access). It is this reform that has created positive improvements for the credit operations, strengthened the lending capabilities, created a faster cycle of credit capital flows, and a more reasonable and efficient capital allocation structure.
PAR orientations in the coming time
Regarding the orientations for PAR, SBV Deputy Governor Dao Minh Tu said: “The SBV will continue to enhance the public administration reform, with focus on the solutions to improve the business environment in the monetary and banking sector, and supporting business development. This is the core element to realize the dual targets of promoting the development of the business system, serving the people, minimizing the time and human resource costs in the implementation of administrative procedures and business conditions, as well as minimizing the risks in the banking operations, contributing to the macroeconomic stability, improving and creating a sustainable business environment ”.
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