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Official Gazette

Wednesday, July 8, 2020

Decision No. 369/QD-TTg: PM approves development strategy for Development Bank of Vietnam

Updated: 14:47’ - 29/03/2013

The Prime Minister approved the Development Bank of Vietnam (DBV) development strategy through 2020, and vision toward 2030 under Decision No. 369/QD-TTg of February 28.

Accordingly, the strategy’s targets are to continuously consolidate and develop the bank as the Government’s policy bank operating on a sustainable and non-profit basis and capable of realizing investment credit policies, providing state export credits and performing other tasks assigned by the Government and the Prime Minister.

During 2013-20, it will maintain an average annual credit growth of 10 percent. Its total assets by 2020 will probably reach VND 500 trillion.

Its credit quality will also be improved, especially in loan appraisal and grant and debt collection management. It will classify non-performing loans in accordance with its operation characteristics, apply a mechanism of appropriating risk provisions and measures for settlement of non-performing loans previously provided to programs, and step up debt collection and risk management aimed reduce the total non-performing loan rate to below 7 per cent by 2015, 4-5 per cent by 2020 and below 3 per cent by 2030.

The Prime Minister allows DBV to comply with both the Law on the State Budget and the Law on Credit Institutions. It will have a Members’ Council for governance of its operations as a wholly state-owned credit institution instead of the Board of Directors as at present. The Council will have more powers to decide on management of capital, assets, mobilization of interest rates, investment and export loan interest rates, and offsetting of credit risks.-

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