Bank Executives pledge reforms
Ha Noi, June 2 (VNA) -- The State Bank Governor and his aides who run the country's four major banks all have pledged to restructure the banking system so as to ensure investment capital to serve the national yearly economic growth target of at least 7.2 percent in the first decade of the 21st century.
State Bank Governor, Le Duc Thuy, told Ha Noi Moi (New Ha Noi) daily that the national banking system, including credit institutions, would concentrate on restructuring its apparatus and upgrading infrastructure facilities.
"The Prime Minister has approved our masterplan for restructuring the whole banking system as well as our projects regarding each State-owned commercial bank, each group of joint-stock banks, and people-instituted credit funds," Thuy said.
The banking industry is strongly resolved to develop healthily, efficiently, and sustainably enough to be competitive in the world market and at the same time, serve as a conduit for the national socio-economic growth, the banking chief concluded.
General Director of the Bank for Agriculture and Rural Development, Le Van So, said financial transparency and establishment of a bank for the poor are his bank's major targets for the next ten years. They will come along with measures to mobilise more medium and long-term deposits and increase investments in agricultural industrialisation and modernisation, said So.
We are resolved to meet the demand of millions of farmer households for production capital. We will join the national effort for an annual agricultural growth of 4.5 percent, said the agricultural bank chief.
Viet Nam's 10-year targets call for a food output of 40 million tonnes a year, a rice export of 4 million tonnes, an aquatic production output of up to 3 million tonnes, and a farm produce export value of up to USD 9 billion.
The country plans to bring the agricultural proportion up to 17 percent of the gross domestic product, GDP, by 2010.
Chairman of the Managerial Board of the Viet Nam Bank for Investment and Development, Phung Thi Van Anh, said the top priority for her bank is to reorganise the management methods and debt structures so as to play a key role in a multi-purpose financial group, thus facilitating the nation's global integration process.
In the first two years, the bank is set to achieve 60 percent of its decade targets, Van Anh emphasized.
Director General of the Viet Nam Industrial and Commercial Bank, VIETINCOMBANK, Dr. Phung Khac Ke, expressed his belief that advanced technology will make up around 70 percent of his bank's operations by 2010, in line with the world trend of E-commerce.
It plans to reduce overdue debts to below three percent by 2010. Economic projects and individuals will be the bank's major targets and are expected to account for up to 80 percent of the bank's debts. The remaining 20 or 25 percent will be channelled into monetary and capital markets, said Ke.
The Foreign Trade Bank Director General, Dr. Vu Viet Ngoan, unveiled his restructuring and development plan for 2001-2005, thus increasing the bank's prestige not only at the domestic but also in the world markets.--VNA
