Vietnam Banking Sector Tender

In Hanoi the State Bank of Vietnam SBV held a meeting with socio-political organizations to assess the coordination results between the banking sector and political organizations. - society in implementing credit extension solutions contributing to limiting black credit and implementing coordination orientation in the coming time. The meeting was chaired by the SBV Deputy Governor Dao Minh Tu. Attending the meeting were representatives of units departments and agencies under the State Bank credit institutions CI and socio-political organizations Central Vietnam Farmers Association Central Womens Union Vietnam Central Veterans Association Vietnam Fatherland Front Central Committee Central Communist Youth Union of Ho Chi Minh City Vietnam General Confederation of Labor.Recently to improve access to capital for production and business to meet consumption needs of people especially the poor low-income people in rural areas the State Bank in the scope of its functions and tasks have issued many positive policies and solutions. Specifically the State Bank has issued a system of legal documents on lending activities of credit institutions and foreign bank branches in accordance with reality issued Decree 412010 ND-CP dated April 12 2010 followed by Decree 552015 ND-CP dated June 9 2015 and most recently Decree 1162018 ND-CP on September 7 2018 amending and supplementing Decree No. 552015 ND-CP on credit for agriculture and rural areas with many breakthrough preferential mechanisms.Besides the State Bank has also implemented many credit programs such as interest rate support loans to enhance mechanization and reduce losses in agriculture Lending to encourage the development of high-tech agricultural applications clean agriculture Loans for housing support Lending to policy credit programs at VBSP. At the same time the SBV also instructed credit institutions to step up administrative reforms simplify procedures for borrowing capital publicly post up and fully guide people when borrowing capital diversified credit products suitable for production and consumption activities of the people.With the above positive solutions the banking sector has basically met timely capital needs for production and business the legitimate life needs of the people. By March 27 2019 credit balance for the economy reached 7.39 million billion up 2.5 compared to the end of 2018 in which loans for agriculture and rural development reached 1.82 million VND up 2 compared to the end of 2018. Besides in the past time banks such as Vietnam Bank for Agriculture and Rural Development Agribank and Social Policy Bank VBSP have cooperated closely with socio-political organizations in the communication policies credit policies and programs to support the development of agriculture and rural areas in all villages regions and regions of the country becoming an effective channel of capital and managing capital helping farmers gradually reduce poverty and improve their lives.Through socio-political organizations Agribank has provided loans to 68871 groups with total outstanding loans of VND 122203 billion VBSP has loaned through 180967 savings and loan groups with a total outstanding loan of VND 193314 billion of which 56958 groups with outstanding loans of VND 60362 billion and 67944 billion with outstanding loans of VND 75675 billion VND Veterans Association is 31292 groups with outstanding loans of VND 31466 billion HCM Communist Youth Union is 24773 groups with outstanding loans of VND 25811 billion.The fact that credit institutions provide loans through borrowing groups savings groups - loans managed by socio-political organizations have helped to save costs of credit institutions in managing loans creating conditions for customers. reduce interest rates support credit institutions in assessing and evaluating customers as well as urging and recovering loan debts especially in areas where population is not concentrated difficult traffic conditions. towels communication facilities are limited. At the same time create conditions for borrowers to have no security assets for production - business and consumption in order to improve incomes and improve their lives. In addition socio-political organizations can gather and encourage people to participate in production strengthen the sense of repayment of banks improve credit quality create cohesion between banks and principal. Local rights Unions and borrowers.In the coming time the banking sector will continue to coordinate with socio-political organizations to drastically implement solutions to boost credit investment effectively to serve the agricultural production of the people. rural areas boosting lending to meet the needs of peoples living and legitimate consumption contributing to reducing black credit. Using rich and diversified forms of communication to educate people to understand the risks and harms of black credit introduce channels of official credit capital supply banking products and services goods for people to access healthy financial services meet capital needs for production - business and consumption contributing to limiting and repelling black credit.