VDB's conference to deploy the State investment credit policy

11/03/2024 12:03

On March 5, 2024, in Hanoi, the Vietnam Development Bank (VDB) has held a conference on the new State investment credit policy implementation by the Decree No. 78/2023/ND-CP in effect from from December 22, 2023, amending and supplementing a number of articles of the Government’s Decree No. 32/2017/ND-CP dated March 31, 2017 of the Government on State investment credit.

  Have attended the conference  Mr. Nguyen Long Hai - Alternate Member of the Party Central Committee, Secretary of the Party Committee of the group of essential companies to the government; Mr. Nguyen Duc Chi, Deputy Minister of Finance; Mr.Nguyen Ngoc Canh, Vice Chairman of the Commission for Management of State Capital at Enterprises; Representatives of ministries and agencies such as Ministry of Health, Ministry of Planning & Investment, SBV, Ministry of Industry and Trade, Ministry of Transport. Along with VBD’s leaders, there were also representatives of groups, corporations, businesses, investors - customers interested in state investment credit at VDB.

VDB's General Director Dao Quang Truong at the Conference 

       In his opening speech, Mr. Dao Quang Truong, VDB’s General Director has stressed on the Decree No. 78/2023/ND-CP role to unlock the State investment credit funding source of through VDB; he has also presented State credit activities in VDB  as well as its policies to customers and investors.
       For an efficient implementation of the investment credit policy prescribed by the new government regulation, VDB has directed its branches to proactively review and look for eligible projects. There are currently 104 projects in request of loan through VDB’s branches and operation centers with a funding demand of up to VND 67.430 billion (of which the disbursement requested in 2024 of VND 18.018 billion).
       VDB has also amended and promptly issued regulations and professional procedures related to lending, appraisal, loan guarantees process, and operating regulations of the credit council...,calculated and made public State investment credit loans rate. With the current regulation and with a credit growth target of 3% - 5% (period 2023 - 2025), VDB's credit limit can be up to VND 15.000 billion for a customer and VND 20.000 billion for a group of customers. In 2024, VDB’s funding capacity may satisfy the loan demand of VND 18 – 20.000 billion.
              The General Director Dao Quang Truong confirmed VDB’s wishes to listen to the guidance and evaluation opinions of ministries and agencies; exchanges and feedback from customers attending this Conference, to continuously improve its State investment credit management, in order to successfully and effectively complete the tasks assigned by the Government and the Prime Minister. At the Conference, VDB has signed cooperation memorandum with several of its customers, namely: PetroVietnam Power Corporation (PV Power); Vietnam Expressway Corporation (VEC); BIM Group Joint Stock Company; Viet Lao Electricity Joint Stock Company; DNP Water Industry Investment Joint Stock Company.
       Closing the Conference, Mr. Le Van Hoan VDB’s Chairman affirmed that as a state FDI, VDB always strives to carry out its mission of creating driving forces for the economy, contributing to rapid and sustainable socio-economic development. On behalf of VDB board of leaders and its staffs, Mr. Le Van Hoan sent his most sincere thanks to the leaders of ministries, agencies, corporations, and businesses that have been who are and will be VDB’s partners, VDB’s customers. He thanked for their cooperation and companionship during the past time and hoped that in the coming time, VDB would continue to receive their trust, close and effective coordination./.

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