The State Bank of Vietnam (SBV) held a conference to work out the tasks for the banking sector in 2016 in Hanoi on December 25.
The conference was attended by Deputy Prime Minister Vu Van Ninh, representatives of the National Assembly, the Central Office and various Commissions of the CPV Central Committee, the President’s Office, the Government’s Office, the National Financial Supervisory Commission, ministries and agencies, members of the SBV Management Board and representatives of the SBV departments and entities; Directors of the SBV municipal and provincial branches, Chairmen of the Boards of Directors of credit institutions, the Vietnam Bank for Social Policies, the Vietnam Development Bank, the Deposit Insurance of Vietnam, joint – venture banks in Vietnam, branches of foreign banks in Vietnam, wholly foreign owned banks, finance companies and others.
Governor Nguyen Van Binh addressing the conference
In his key note speech, Governor Nguyen Van Binh emphasized that the year of 2015 in particular and 2010 – 2015 period in general, under the leadership of the Communist Party of Vietnam and the strict guidance of the Government, the close coordination of the relevant ministries and agencies and with the solidarity and efforts of all state employees in the banking industry, the banking sector has successfully fulfilled the assigned tasks.
The SBV Governor said that entering 2016 which is the first year of the implementation of five –year plan (2016-2020), the banking sector determines to continue striving to fulfill the tasks assigned by the CPV and the Government in 2016 on the solid basis of experience, lessons and determination of the banking sector obtained in the recent time.
As the main presenters of the conference, SBV Deputy Governor Nguyen Thi Hong delivered a report on monetary policy management and banking operations in 2015 and directions for 2016; SBV Deputy Governor Nguyen Phuoc Thanh delivered a report on the results of supervision, NPL reschedule and resolution in 2015 and key tasks in 2016; SBV Deputy Governor Dao Minh Tu delivered a report of the task of governance and management in 2015 and orientations and tasks in 2016 (For the full reports, please read the press release in the SBV Website on December 25).
In his speech, Mr. Nguyen Dong Tien, Deputy Governor and Chief of the Emulation Committee of the banking industry launched the emulation program on fulfilling the tasks of the banking industry in 2016. This program aims at encouraging all best employees of the banking sector to make their efforts to successfully fulfill the tasks, while heightening the sense of discipline and responsibility.
Addressing the conference, Deputy Prime Minister Vu Van Ninh spoke highly of the efforts of the banking sector in 2015 in the implementation of directives and policies of the State and the Government in order to continue stabilizing macro-economy, curbing inflation and implementing solutions to remove difficulties, support businesses, and promote economic growth, thereby contributing to promoting socio-economic development and ensuring social protections. Notably, he said, in 2015 the banking sector has taken strict implementation of programs and policies in order to boost production and business; extending loans for agricultural and rural development, exporters, supporting industries and SMEs. In addition, the year 2015 also marks the significant success in the management of monetary policy, credit growth, forex management, the restructuring of credit institutions, NPL resolution in accordance with the CPV and Government’s guidance.
The Deputy Prime Minister required the banking industry to take advantage of the achievements obtained in 2015, while taking decisive measures in accordance with the guidelines and policies of the CPV and the Government in stabilizing and developing the economy. He expressed his agreement with the missions and measures that were proposed in the SBV’s reports. He emphasized that the banking sector should decisively deploy the following tasks: Flexibly managing synchronous monetary policy tools in combination with the fiscal policy in order to curb inflation, strengthen macro-economic stability and ensure economic growth at a reasonable rate; proactively regulationg interest rates and exchange rate, ensuring the value of VND, mitigating the dollarization and goldization; Continuing to implement programs on connecting bank loan initiative with economic policies; Accelerating the progress of NPLs resolution and credit institution restructuring; Strengthening the coordination of monetary policy with the other macro-economic policies.
In his closing remarks, the SBV Governor expressed his sincere thanks to the CPV, the Government and the Deputy Prime Minister for their wholehearted support and guidance to the banking sector. He committed that the whole banking industry will do its best to successfully fulfill its set tasks in 2016.
The SBV Governor required the banking sector to promote the management, the implementation of monetary policies and banking operations, improve the task of forecasting, recommend measures of resolving arising difficulties and determine to successfully accomplish the set objectives in 2016; at the same time, continue to enhance the reform of administrative procedures at the SBV and commercial banks. He expressed his belief that although the banking sector will have many challenging tasks in the coming time, with the obtained results over the past time and experience in guiding and managing, the banking industry will excellently fulfill the assigned tasks.
TLH