Create conditions and provide the best services for the poor

The Government Office has just issued Notice No. 177/TB-VPCP dated April 14, 2025, concluding the conclusion of Deputy Prime Minister Ho Duc Phoc at the working session with the Bank for Social Policies.

The conclusion announcement stated that after more than two decades of accompanying the poor and policy beneficiaries, the Vietnam Bank for Social Policies (VBSP) has gradually affirmed its key role in poverty reduction and ensuring social security in the country.

Formed and developed under the leadership of the Party, the close direction of the Government and the close coordination of the entire political system, the Vietnam Bank for Social Policies has become a solid financial support for millions of poor households, helping them access preferential capital to gradually stabilize their lives and escape poverty sustainably.

The Vietnam Bank for Social Policies has actively implemented its assigned tasks and achieved many important results: it has mobilized diverse and increasingly large capital sources, with total policy credit capital reaching over VND 416 trillion, serving over 6.8 million poor people and policy beneficiaries. The quality of policy credit has been improved, the rate of overdue debt and frozen debt has been maintained at a low level (0.55% of total outstanding debt).

Illustration photo.

However, the Deputy Prime Minister also pointed out the limitations in the operation of the VBSP, especially in terms of capital structure. Currently, mobilized capital is not really diverse, not meeting actual needs; entrusted capital in some localities; capital from charitable sources and other legal capital sources account for a small proportion of the total capital; there are no mechanisms and policies to attract highly qualified personnel, especially personnel working in the field of information technology; the application of information technology in the operation of the VBSP is still limited.

Faced with that reality, Deputy Prime Minister Ho Duc Phoc emphasized the need for comprehensive innovation, improving operational capacity and enhancing the adaptability of the VBSP in the new period. First of all, the bank needs to closely follow the orientation of arranging and perfecting the organizational apparatus of the political system and administrative units according to the Party's policy, ensuring consistency with the practical operations and the specific characteristics of a bank serving social security.

In addition, the Vietnam Bank for Social Policies needs to continue researching and promoting the application of information technology, digital transformation, artificial intelligence (AI) and big data to reduce costs, human resources, save time, optimize management processes, control operations, perform tasks accurately and safely, help improve the operational efficiency of the entire system, create conditions to serve and provide the best services for the poor and other policy beneficiaries.

Focus on effectively implementing the inspection and supervision work of the Board of Directors, the Board of Directors' Representative Board, the internal control and inspection system; inspecting and supervising the activities of entrustment, delegation, and use of borrowed capital. Strengthening the work of governance and capital management strictly and effectively.

Focus on researching and thoroughly reviewing regulations and administrative procedures related to the operations of the Social Policy Bank, cutting and simplifying procedures to the maximum to improve work efficiency and reduce operating costs of the Social Policy Bank and customers.

Source: https://thoidai.com.vn/tao-dieu-kien-cung-cap-dich-vu-tot-nhat-cho-nguoi-ngheo-212575.html