The motto of the SBV is to create the most favorable conditions, as well as minimizeexpenses for citizens and businesses in having access to banking services. This has contributed to raising the national credit access index, enhancing the prestige of Vietnam’s investment environment and supporting the businesses.
Drastic direction and implementation
SBV Deputy Governor, Mr. Dao Minh Tu, said: "In implementing tasks, we always consider citizen and businesses as the focus of public administration reform. This has beenclearly reflected in the efforts ofthe SBVand the whole banking system. Particularly, for those organizations which have direct contact with citizens and businesses, it is necessary to be deeply aware ofthe reform objectives and office culture in order to create the most favorable conditions for citizen and enterprises in transactions with banks”.
Accordingly, in order to realize the objective of buildingthe government of creativity development, integrity, and action,improvingthe quality of service delivery for people and businesses,under the direction of the Prime Minister and the PAR Steering Committee, during the year of 2017, there was a significant change in awareness and actions of the SBV’s leaders, from the SBV’s Governor to all officials, civil servantsand employees of the banking sector, demonstrated by the issuance and direction of implementing all PAR contents and administrative procedures.
Supporting businesses and improving business environment
Adhering to the objectives and tasks set in the Government Resolution No. 30c / NQ-CP dated 08/11/2011 on the State Administration Reform Master Program for the period2011-2020, the SBV hasdeemedadministrative reform as afocal task tocarry out the strategy of reforming and renovating banking operations.Based on this, the SBV made specific PAR plans and programs (every year and 5 years), and instructed the whole banking sectorto implement drastically.
The SBV’s Governor asked heads of units to viewadministrative reform and administrative procedure reformasa very important and urgent task, and the main solution to improving the operational efficiency and quality oftheir units. The head of the unit should set a good example; have a caring and responsible attitude; give specificdirections to this work; recognize and reward groupsor individuals whohave a good performance, criticize and penalizegroupsor individuals who violate regulations or are neglectful of their duties in a strict manner. The SBV regularly monitored, supervisedall units in the banking sector to properly assess the implementation and correct those units that haven’t done well in a timely manner.
In order to ensure unity and synchronization of reform solutions in the banking sector, the State Bank directed the system of credit institutions (CIs) to implement specific tasks of simplifying administrative procedures, cutting down lending interest rates and service charges, enhancing transparency and access to credit, facilitating organizations and individuals in transactions with CIs, directly supporting enterprises, showing the enthusiasm and responsibility of the banking industry towards the development of the businesses contributing significantly to the improvement of the business environment and enhancing the competitiveness of the economy.
In addition to the implementation of the objectives and tasks under the State Administration Reform Master Program for the period2011-2020, the SBV also actively carried outinternal reforms, with the focus on comprehensivelyimplementingreform measures in governance, tightening discipline in administration and public service delivery, thereby effectively using available resources, timely solving key and urgent tasks with good quality, especially in recent years.
Regardinginstitutional improvement, the SBVformulated, submitted to the National Assemblyfor approval a Resolution on bad debt settlement and the Law on the amendment of a number of articles of the Law on Credit Institutions, and issued the new regulations on management of lending activities…As for administrative procedure reform, in 2017, the SBV reviewed and ruled outnearly 70 administrative procedures, the total cost for completing administrative procedures decreased by 20%, exceeding the target of 10%/ year assigned by Government. Concerning administrative modernization, all administrative procedures of the SBV have been implemented in accordance with the TCVN ISO 9001: 2008 national standard and posted on the Web Portal to meet the requirement of transparency and to facilitate institutions and individuals to supervise SBV inhandlingadministrative procedures.Information technology has also been applied comprehensively in all administrative activities such as an unifiedinformation system for governance& document management in the entiresector andanonline television system, which are prompt, timely and convenient and have contributed to improving work efficiency, significantly reducing administrative costs, paperwork, travelling, meetings, etc., with greaterefficiency.
Reforms in organizational structure, civil service delivery, civil servants and public financewere implemented in line with the set objectives and plans, contributing to streamlining organizational structures, practicing thrift and combating waste in using labor.
Following the instructionsof the SBV, the system of CIs reviewed, cut down and abolished many administrative procedures in order to facilitate people and enterprises to access loans and other services. In 2017, the system of credit institutions launched more than 70 programs and credit products in order to support enterprises with concessional loans, including 15 programs applied to small and medium enterprises, and start-up enterprises.
Thanks to the efforts of the whole system, Vietnam’s “getting credit” index in 2018 was ranked 29/190 by the World Bank, moving up by 3 notches and occupying the 4thplacein ASEAN. Forthree consecutive years 2015, 2016 and 2017, the SBV took the first placeamong ministries and branches in terms of the PAR Index.
Administrative Reform without breakpoints
In order to further promote PAR, Deputy Governor Dao Minh Tu said: "PAR has no breakpoint or ending points. The dynamics, development of the economy and the requirements in relation withbusinesses and citizens are higher andhigher. Therefore, the SBV’s leaders continue deeming PAR as an important keyworkto be implemented regularly and continuously in all banking activities".
With the aim of continuing the active implementation of PAR tasks under the Government Resolution 30c/NQ-CP, the SBV would focus on the following areas: to continue to implementthe PAR tasks and banking industry action plans drastically and comprehensively, thereby contributing to improving the business environment, enhancing national competitiveness and business development; to tighten discipline&administrative disciplinefor civil servants and public servants, especially heads of units in order to create motivation forand responsibilitypressure on public officials and staff in delivering civil services; to improvethe legal system; to consolidate the organizational structure, streamline staff; to promote the application of information technology in modernizing banking operations, enhance the operation of E-government; to increasingly direct credit institutions to improve and innovate banking products and services, in order to facilitate and timely meet the needs of people and enterprises.
In order to achieve these goals, the SBV would carry out a series of policies, mechanisms and solutions that would be set up appropriately for each period of time and built on the foundation of highest determination, unified political will of the whole banking sector and a satisfactory and effective investment in human resources.