Competition - a driving force for improving the effectiveness of credit policies.

Bearing in mind President Ho Chi Minh's teachings on patriotic emulation, the staff of the Department of Credit for Economic Sectors have, for many years, persistently strived to fulfill their duties with a spirit of dedication, responsibility, and action for the development of the country. Emulation is not just a slogan, but is reflected in every advisory document, every policy implemented, and every difficulty faced by citizens and businesses that is promptly addressed.

Deputy Governor Nguyen Ngoc Canh spoke at a working session with representatives from the Ministries of Finance, Construction, Industry and Trade, Science and Technology , and 21 commercial banks to implement a preferential credit package of 500 trillion VND for businesses investing in infrastructure and digital technology.

完善 policies and maintain a smooth flow of capital for growth.

From that spirit, over the years, that patriotic emulation spirit has been realized in the work of advising on credit policy – ​​a field that plays a key role in economic growth, macroeconomic stability, and social welfare. One of the important tasks of the Department of Credit for Economic Sectors is to review and improve the credit policy framework to meet the requirements of innovation and development.

As an advisory unit assisting the Governor of the State Bank of Vietnam in performing the state management function in the field of banking credit for economic sectors, the Department of Credit for Economic Sectors always adheres closely to the policies and directions of the Party, the National Assembly , the Government, the Prime Minister, and the directives of the Governor of the State Bank of Vietnam, while also thoroughly understanding the practical situation to develop appropriate credit policies. In the past period, the Department has advised the Governor of the State Bank of Vietnam to issue or submit to competent authorities for issuance 3 Government Decrees, 2 Prime Minister's Decisions, and 13 Circulars of the Governor of the State Bank of Vietnam. These are important documents that contribute to concretizing the major policies of the Party and the State on socio-economic development, administrative procedure reform, and digital transformation in banking operations.

Alongside the completion of the legal framework, the Department of Credit for Economic Sectors has proactively issued numerous directives to credit institutions to promptly meet the capital needs for production, business, and consumption of people and businesses, creating favorable conditions for people and businesses to access bank credit. In the context of an economy affected by the intertwined impacts of epidemics, natural disasters, and global economic and financial fluctuations, timely and smooth credit flows have become a decisive factor in helping businesses overcome difficulties, maintain production, and ensure social welfare.

Along with perfecting the mechanisms, another prominent area of ​​work is the development and implementation of sectoral credit programs in accordance with the directives of the Government and the Prime Minister. The Department of Credit for Economic Sectors proactively coordinates with relevant ministries and agencies to resolve obstacles in the implementation of programs, ensuring that credit capital reaches the right target and is used effectively. A prime example is the High-Tech and Clean Agriculture Loan Program under Government Resolution 30/NQ-CP, with a scale of 100 trillion VND, which disbursed more than the set target by mid-2022. Similarly, the credit program for the agriculture, forestry, and fisheries sector has been expanded four times and currently stands at 185 trillion VND.

Particularly during the recent period, when the economy faced numerous challenges from the Covid-19 pandemic, natural disasters, and difficulties in production and business, the Credit Department actively implemented solutions, especially policies to restructure loan repayment terms and maintain the same loan classification for customers facing difficulties. This policy has facilitated debt restructuring for approximately 1.3 million customers, with a total principal and interest value of about 1 trillion VND. During the Covid-19 pandemic alone, credit institutions reduced interest by approximately 50 trillion VND for customers.

Another highlight is the strong nationwide promotion of the bank-business connection program. Over the past five years, approximately 4,000 meetings and dialogues have been organized to listen to the difficulties faced by businesses and promptly resolve obstacles related to credit access. In the first half of 2025 alone, over 1,000 meetings were held between banks and businesses; the State Bank of Vietnam successfully chaired 13 conferences on "Promoting Bank Credit" in 13 out of 15 regions. These dialogues not only create a bridge between banks and businesses but also help capital flow to the right recipients with good absorption capacity, creating new impetus for growth.

In the field of policy credit, the operations of the Vietnam Bank for Social Policies (VBSP) continued to grow steadily at an average rate of 12.2% per year. By the end of September 2025, the total outstanding loans of policy credit programs reached over 398 trillion VND with more than 6.7 million customers still having outstanding loans. Policy capital has become an important resource contributing to sustainable poverty reduction, rural development, and social security.

Bank credit officers are always attentive, ensuring that bank capital is used most effectively.

The results of performing professional duties are a measure of patriotism.

The aforementioned credit efforts and solutions have created an important foundation for promoting economic growth. On average, credit growth was approximately 14.16% per year during the 2021-2024 period. By the end of September 2025, the total outstanding loans in the economy reached over 17.78 trillion VND; in the first nine months alone, the banking sector added 2.1 trillion VND in outstanding loans to the economy. The credit structure has shifted in a positive direction and is consistent with the economic sector structure. Outstanding loans in the agriculture, forestry, and fisheries sector reached over 1 trillion VND, an average increase of 7.15%; the industry and construction sector reached over 4 trillion VND, an average increase of 10.63%; and the trade and services sector reached nearly 12 trillion VND, an average increase of 16.46%. Credit is strongly directed towards priority areas, with agriculture and rural areas accounting for about 23% and small and medium-sized enterprises accounting for about 19%. Notably, credit to high-tech and supporting industry businesses increased by an average of 17.51% and 19.91% respectively during the recent period.

Along with other sources of capital, bank credit has provided essential financing for the implementation of key infrastructure projects – one of the Party's three strategic breakthroughs. Many projects have been granted credit limits of up to tens of trillions of dong, contributing to the liberation of resources and creating a ripple effect for long-term growth.

Besides commercial credit, the policy credit activities of the Vietnam Bank for Social Policies (VBSP) have grown steadily over the past five years, with an average increase of 12.2% per year. By the end of September 2025, outstanding loans under policy credit programs reached over 398 trillion VND with more than 6.7 million customers still having outstanding loans.

The outstanding results mentioned above are the clearest evidence to affirm the role of bank credit in promoting economic growth, creating jobs, and improving people's lives; they also demonstrate the effectiveness of organizing and implementing emulation movements launched by the Prime Minister, the Chairman of the Central Emulation and Commendation Council, and the Governor of the State Bank of Vietnam, such as: "The whole country unites, works together, and competes to prevent, control, and defeat the Covid-19 pandemic", "The whole country works together to build new rural areas", "For the poor - no one should be left behind", "Promoting the development of synchronous and modern infrastructure; practicing thrift and combating waste", "500 days and nights of emulation to complete 3,000 km of expressways"...; In particular, many collectives and individuals in the Department have been honored with commendations and certificates of merit in these emulation movements.

Based on the practical results achieved and lessons learned over the past five years, the Department of Credit for Economic Sectors has determined that: the organization of emulation movements must be linked to the political and professional tasks of the unit; and the results of implementing political and professional tasks are the most practical measure of the implementation of emulation movements, and the clearest evidence of patriotism. Therefore, emulation movements should focus on completing assigned tasks in a responsible, timely, and effective manner with a number of key solutions.

That is, to continue proactively reviewing and amending legal documents, mechanisms, and policies related to banking credit activities and sectoral credit. At the same time, the Department will continue to direct credit institutions to further develop their role as financial intermediaries in the economy, along with other resources from the State, businesses, and the people, to contribute to promoting economic growth; to manage credit in accordance with macroeconomic developments, meeting credit capital needs, aligning with the economy's capital absorption capacity, directing credit towards production and business sectors, priority sectors, economic growth drivers, key and feasible projects, creating favorable conditions for people and businesses to access bank credit; and to organize, monitor, and promptly resolve obstacles in the implementation of credit programs and policies as directed by the Government and the Prime Minister. Implementing the tasks of the banking sector in national target programs…

In particular, as the country enters a new era, aiming to become a developed, high-income nation by 2045, the spirit of patriotic emulation will be the guiding light for the Department of Credit for Economic Sectors to continue researching, advising, and proposing key solutions on banking credit work to contribute to the successful implementation of the Party's major resolutions, policies, and guidelines on agriculture, rural areas, science and technology, digital transformation, private sector development, education, energy, etc. These efforts will not only contribute to promoting sustainable economic growth but also, together with the entire banking sector, realize the aspiration of a "strong and prosperous Vietnam".

Source: https://thoibaonganhang.vn/thi-dua-dong-luc-nang-cao-hieu-qua-chinh-sach-tin-dung-174056.html