VBSP implements tasks in the last 6 months of 2019

(VBSP News) On July 6, 2019, VBSP organized a conference to evaluate the performance of the first 6 months and deploy tasks in the last 6 months of 2019. Mr. Duong Quyet Thang, General Director of VBSP attended and chaired the conference.

Mr. Duong Quyet Thang - General Director speaks at the conference

Attending the conference included the representatives of the Central Organization Commission; Central Inspection Committee; Party Committee of the Centrally-run Businesses and State Bank of Vietnam.

Besides, there are the Chief of the Supervisory Board; Deputy General Directors; Chief Accountant; Chairman and Vice Chairman of Trade Union; Chief of Office, Deputy Chiefs of Office; Directors and Deputy Directors of functional Departments; Training Center, IT Center, Transaction Center and Directors of 63 VBSP’sprovincial branches.

At the conference, Mr. Duong Quyet Thang emphasized: “In the first 6 months of 2019,VBSP implemented well the Directive No. 40-CT/TW dated November 22, 2014 of the Party Central Committee's Secretariat on strengthening the Party's leadership on social policy credit; actively exploited and mobilized capital sources serving the poor and other policy beneficiaries; strengthened supervision on implementing measures of improving credit quality.

As of June 30, 2019, total capital was VND 207,217 billion, of which local authorized funds transferred to VBSP to provide loans to social policy beneficiaries was VND 14,128 billion, reaching 104% of the plan of 2019. Especially, branches in the whole system actively advised the Party Committee,local authorities at all levels to implement well the Directive No. 40-CT/TW and the Decision No. 401/QD-TTg.

Mr. Nguyen Duc Hai - Deputy General Director presents the performance results of VBSP in the first 6 months and operational direction for the last 6 months of 2019

As of June 30, 2019, total outstanding loans reached VND 198,505 billion; in which, the outstanding loans of credit programs under the growth plan which was assigned by the Prime Minister reached VND 173,855 billion, completing 66% of the plan. Besides, credit quality is greatly improved. As of June 30, 2019, the total overdue and frozen debt was VND 1,488 billion, accounting for 0.75% of the total outstanding loans.

The General Director also mentioned some positive results on administrative procedure reform; international cooperation and communication on credit policy to domestic and international individuals and organizations; maintaining good operation of IT system, etc.

The scene of the conference

Following the viewpoint of the Prime Minister which is "Never give up when facing with difficulties and challenges, be consistent with the assigned objectives and tasks”, the General Director asked the units to be determined and focused to complete the tasks assigned in 2019 by the Government. Moreover, these units also need to enhance the handling and recovery of due debts to create revolving capital for credit programs, efficiently use capital and advise the Boards, Ministries, Party Committee and local authorities at all levels to continue to well implement Directive No. 40-CT/TW and Decision No. 401/QD- TTg.

Furthermore, all units must continue to improve the quality of policy credit, especially, focusing on branches having low or unstable credit quality; carry out a comprehensive inspection program; review organizational structure to promptly appoint the unfilled positions of leaders and managers and supplement officials for weak units; well organize the training plan and scientific research to improve the capacity and professional levels for the staff; inspect investment capital plans to ensure proper investment‘s purposes; strengthen the application of IT to improve product quality and banking services; well propagandize on policy credit; promote emulation movements of successfully completing the assigned political tasks; and actively responding to patriotic emulation movements.

The General Director emphasized the key task of 2019 to be organizing the preliminary summary of 5 years implementing the Directive No. 40. Therefore, from now the whole system must focus on promoting activities in all fields so that credit quality can be improved and be sustainable. The propaganda also needs to be enhanced so that the Party Committee and authorities can understand and care about VBSP's activities, thereby contributing to increasing resources for people to focus on production and escape from poverty.

On this occasion, the Emulation and Commendation Council of VBSP also announced the reward decisions of VBSP's General Director for individuals and teams who successfully completed the tasks in the first 6 months of 2019.