Nghe An is forming a regional financial center.

(Baonghean.vn) – On the afternoon of September 13, comrade Nguyen Dac Vinh, member of the Party Central Committee, Secretary of the Provincial Party Committee, worked with the State Bank of Vietnam, Nghe An branch to grasp the industry's operations and direct development tasks in the coming time.

Also attending the meeting were members of the Provincial Party Committee: Le Xuan Dai, Permanent Vice Chairman of the Provincial People's Committee, Nguyen Thi Thu Huong, Secretary of the Provincial Party Committee of provincial agencies; representatives of the Department of Finance, commercial banks in the area...

Provincial Party Secretary Nguyen Dac Vinh chaired the meeting.

Overview of the working session

In the first 8 months of 2016, closely following the direction of the State Bank of Vietnam, the People's Committee of Nghe An province and the State Bank of Nghe An branch have promptly implemented mechanisms, policies and solutions on state management related to currency, credit and banking activities.

The report of the State Bank of Vietnam, Nghe An Branch shows that: The banking sector in Nghe An province currently has 19 grassroots party organizations established and operating. With the direction of the superior party organization, the grassroots party organizations in the banking sector have made great efforts in directing professional activities, and the mass organizations have successfully completed the assigned tasks.

Many grassroots Party organizations have achieved outstanding cleanness and strength, and mass organizations have been highly appreciated by higher-level mass organizations. By August 31, 2016, Nghe An had 97 credit institutions and level 1 credit institution branches.

Ms. Nguyen Thi Thu Thu, Director of the State Bank of Vietnam, Nghe An Branch, reported on the performance of the banking sector.

In the past time, the State Bank of Vietnam, Nghe An branch, has deployed and directed the implementation of 5 Directives, 25 Circulars and documents issued by the State Bank of Vietnam related to activities such as foreign exchange management, capital safety ratio in the operations of credit institutions, trading of corporate bonds, discounting of negotiable instruments and valuable papers, non-cash payments, foreign currency exchange, supporting and developing enterprises... Monitoring the credit growth situation at credit institutions. Actively and effectively implementing credit programs for specific sectors and fields according to the Government's policies.

As of August 31, 2016, mobilized capital in the area reached VND 86,763 billion, an increase of 12.5% ​​compared to the beginning of the year, higher than the same period last year (10%). Total outstanding credit balance reached VND 138,769 billion, an increase of 9.9% compared to the beginning of the year, higher than the same period last year (8.1%). Bad debt of banks in the area as of August 31, 2016 was VND 1,020 billion, accounting for 0.7% of total outstanding debt.

At the meeting, the leaders of the State Bank of Vietnam, Nghe An branch, also reported to the Provincial Party Secretary about some difficulties in the sector's operations and recommendations to create better operating conditions, especially removing difficulties for large projects so that the projects can repay loans on time.

Transaction at BIDV Bank branch. Photo: PV

After listening to opinions from banks and sectors, Comrade Nguyen Dac Vinh, Secretary of the Provincial Party Committee, acknowledged that over the past time, Nghe An's banking sector has closely followed the Party's policies to deploy them to the grassroots level, effectively implementing policy and priority credit programs.

In addition, the bank has done well in social security programs; outstanding loans are high. The system and operations of the industry are gradually forming a financial center of the North Central region.

The Provincial Party Secretary agreed with the direction and tasks set by the industry, striving to increase mobilization and outstanding loans to 15-20%, bad debt below 3% of total outstanding loans. Continue to implement the plan of the Governor of the State Bank on handling bad debts, effectively implement Resolution No. 35/CP of the Government, effectively restructure the banking sector; At the same time, request the State Bank of Vietnam Nghe An branch to effectively implement the Government's priority credit policies, serve the people to develop production and business, and strengthen inspection and supervision. Request the State Bank branch to proactively support and help credit institutions to perform better in business.

Speech video of Provincial Party Secretary Nguyen Dac Vinh

PV Group