This event is part of a series of conferences organized by the State Bank of Vietnam at State Bank branches in the regions to exchange and discuss solutions to achieve credit growth targets, contributing to promoting economic growth.
Speaking at the conference, Deputy Governor of the State Bank of Vietnam Pham Thanh Ha said that the State Bank's management must achieve multiple goals, contributing to stabilizing the macro economy, controlling inflation, ensuring the safety of the banking system, and supporting economic growth.
Credit growth is right and on target
According to Deputy Governor Pham Thanh Ha, the Government has set out many key targets and solutions, including setting a national growth target of at least 8% in 2025 and striving for double digits in more favorable conditions. To achieve that goal, in Resolution 25/NQ-CP dated February 5, 2025, the Government assigned specific GRDP growth targets to each province and city; in which, provinces in Region III achieved from 8-10.5%; at the same time, the Government has resolutely implemented Resolution 18-NQ/TW of the Central Executive Committee on restructuring and streamlining the apparatus, avoiding work interruptions.
Realizing that bank credit capital is one of the important resources supporting investment, production and business of society, contributing to the realization of growth targets, the State Bank has recently implemented synchronous solutions to create favorable conditions and increase access to credit to serve production, business and consumption of people and enterprises.
In particular, for credit work, the State Bank has innovated credit management measures. In 2025, the State Bank set a credit growth target of about 16%, higher than previous years, and at the end of 2024, it publicly announced the target to credit institutions to proactively meet capital needs for the economy; at the same time, it will proactively adjust the credit growth target based on macroeconomic developments and the actual situation;...
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Deputy Governor of the State Bank Pham Thanh Ha speaks at the conference. |
The above solutions and management have initially achieved positive results. Although according to the seasonal laws of the years and the Lunar New Year, credit at the beginning of the year often decreases, credit growth in early 2025 showed signs of improvement, specifically by March 12, 2025, credit increased by 1.24% compared to the end of 2024 (the same period decreased by 0.74%).
Region III includes four provinces: Hoa Binh, Son La, Dien Bien, Lai Chau, of which three provinces are planned to belong to the Northwest sub-region of the northern midland and mountainous region: Hoa Binh, Son La, Dien Bien with many advantages in developing agriculture and forestry, processing industry, clean energy industry, tourism. In particular, Son La is identified as the growth pole of the sub-region; belonging to the Dien Bien-Son La-Hoa Binh-Hanoi economic corridor associated with the Northwest sub-region, connecting with Laos and ASEAN countries.
Acting Director of the State Bank of Region III Trinh Cong Van said: as of February 28, there were 27 credit institutions in the region (4 state-owned commercial banks; 7 joint-stock commercial banks, the Bank for Social Policies, the Development Bank; 13 people's credit funds and 1 microfinance institution). The network of credit institutions is spread throughout the district and city with 54 level I branches, 39 level II branches, 158 transaction offices, 668 transaction points, and 4 specialized mobile vehicles. The entire area has 243 ATM/CDM automatic transaction machines, 35,500 QR code points, in addition to 2,583 service introduction points of 8 financial companies.
The banking system in the region has done a good job of mobilizing capital to supply for production, business and consumption of people and enterprises with outstanding loans reaching nearly 135 trillion VND, accounting for 18.4% of the total outstanding loans of the northern midlands and mountainous region; focusing credit resources on sectors and fields that are the region's typical strengths: such as lending to agriculture and rural areas (accounting for more than 37% of outstanding loans in the region), lending to small and medium enterprises (accounting for 27% of outstanding loans in the region). In addition, the policy credit programs of the Vietnam Bank for Social Policies (accounting for 16% of outstanding loans in the region) have helped poor households and other policy beneficiaries access preferential credit capital from the state, to develop production, business, and escape poverty sustainably.
Region III needs to increase its credit scale in 2025, possibly up to nearly VND22 trillion (while in 2024, Region III's credit scale increased by VND9,600 billion). This is a challenge, requiring the efforts of the entire banking industry, cooperation from customers, businesses and support from the political system.
Deputy Governor Pham Thanh Ha
Sharing at the conference, Ms. Chu Thi Kim Oanh, Director of BHL Son La Agricultural Processing Joint Stock Company, said that the business activities of enterprises cannot be separated from the companions of banks, capital providers and services for enterprises. For example, BHL, from the first days of project implementation, the enterprise chose VietinBank Son La as the unit to provide comprehensive banking services from project investment loans, working capital for production, guarantee services, money transfers, deposits, etc.
By 2025, the company aims to expand its market, diversify its products and increase value in the agricultural supply chain. To achieve these goals, the support and companionship of the banking system is very important. The company hopes that in the coming time, banks will continue to strengthen preferential credit support policies for agricultural processing enterprises, especially in the investment phase of expanding production and developing products; support trade finance channels to create more favorable conditions for export activities and developing international markets...
Accompanying to remove barriers to capital access
In addition to the achieved results, Mr. Trinh Cong Van said that banking activities in the area still face many difficulties and challenges, with locally mobilized capital only meeting about 84% of the local credit capital demand. Credit growth by the end of 2024 will only reach 7.6% compared to the end of 2023 (lower than the growth rate of the northern midlands and mountainous region of 14.4% and the whole country of 15.09%). Many businesses and people also reported difficulties in production, business and access to bank credit capital.
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| Acting Director of State Bank Region III Trinh Cong Van reported at the conference. |
Mr. Nguyen Ngoc Son, Permanent Vice President of Son La Business Association, Director of Quynh Ngoc Joint Stock Company shared that although the economy is on the path of recovery and development, the business community, including businesses in Son La province, still faces difficulties and limitations. The majority of businesses in the province are small and micro-sized (accounting for nearly 97%), have low production and business capital, the proportion of businesses in industry groups is still unbalanced, mainly operating in the construction and service sectors, so they face many difficulties in accessing loans. Many businesses do not meet the requirements for collateral or are not eligible for loans, leading to limitations in expanding production and investment.
“The provincial business association and businesses hope that the banking sector will continue to promote its pioneering role, creating more suitable mechanisms and policies to help businesses overcome capital difficulties, especially cooperatives and small and medium enterprises,” said a representative of the Son La Business Association.
In addition, Mr. Nguyen Ngoc Son also recommended that the State Bank encourage credit institutions to expand the form of mortgage loans based on future assets because currently very few banks apply this form of loan.
In the context of many challenges, according to Deputy Governor Pham Thanh Ha, to achieve the credit growth target of 16% (outstanding debt increased by VND 2.5 million billion compared to 2024) contributing to achieving the economic growth targets of the whole country (at least 8%) and 4 provinces of the Region (8% to 10.5%) requires the entire banking industry in general and in Region III in particular to resolutely implement many solutions. In particular, in addition to balancing and ensuring credit "supply", it is necessary to closely coordinate with businesses and people to contribute to promoting the "demand" factor and promoting the connection between credit supply and demand, connecting banks and businesses to promptly grasp difficulties and problems and have appropriate solutions.
“Region III needs to increase its credit scale in 2025, possibly up to nearly VND22 trillion (while in 2024, Region III’s credit scale increased by VND9,600 billion). This is a challenge, requiring the efforts of the entire banking industry, cooperation from customers, businesses and support from the political system,” Deputy Governor Pham Thanh Ha emphasized.
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Delegates attending the conference. |
Based on the recommendations of enterprises at the Conference, Deputy Governor Pham Thanh Ha also requested the regional State Bank to perform well the function of state management of currency, credit and banking activities in the area according to the tasks assigned by the Governor of the State Bank of Vietnam; continue to direct branches of credit institutions in the area to provide credit to production and business sectors, priority sectors and economic growth drivers according to the direction of the Government and the Prime Minister; strictly control credit for potentially risky sectors; continue to actively implement solutions to remove difficulties for people and enterprises; promptly meet the capital needs of people and enterprises; actively participate and effectively and practically implement the bank-enterprise connection program in appropriate forms.
In addition, the Deputy Governor requested credit institutions at the Head Office and branches in the area to resolutely implement credit growth solutions that are correct and on target right from the beginning of the year, promptly meeting the credit capital needs of the economy. In particular, focusing on credit investment in feasible key projects and works serving socio-economic development and key agricultural products (forestry products, rice, vegetables and fruits); taking advantage of the support of localities and industry associations to develop credit in the area.
Notably, the Deputy Governor also emphasized the requirement to achieve credit growth targets but must ensure efficiency, compliance with regulations, ensure system safety, and limit bad debt. Banks need to continue to simplify credit granting processes and procedures, apply digital transformation to credit granting processes, minimize unnecessary expenses to create resources to reduce lending interest rates, support people and businesses; maintain stable and reasonable mobilization interest rates; continue to publish information on lending interest rates for credit packages, programs, and products on the credit institution's website;...
Source: https://nhandan.vn/day-manh-ket-noi-cung-cau-tin-dung-cac-tinh-thuoc-khu-vuc-iii-post867823.html
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