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SBV reviews performance in quarter 1/2009
The State Bank of Vietnam (SBV) held a meeting on April 22 to review the SBV’s performance in the first quarter of 2009. The meeting was chaired by Governor Nguyen Van Giau with the attendance of other members of the SBV Management Board and leading officials from all the entities of the SBV Head Office.
As reported by the Director of the SBV Office, during the first quarter of 2009, SBV Management Board focused on the implementation of the Government’s directives set in Resolution No. 30/2008/NQ-CP of the Government dated December 11, 2008 on urgent measures to prevent economic recession, maintain growth, and ensure social protection, Resolution No. 01/NQ-CP of the Government dated January 9, 2009 and Decision No. 131/QD-TTg of the Prime Minister dated January 23, 2009 on assisting and supporting the business and productive corporate and individual borrowers in terms of interest rate under the stimulus package of the Government.
For their parts, several participants articulated certain issues to enhance the governance, i.e. strengthening the pro-activeness of and close co-operation among SBV entities, improving the working environment and facilities for SBV staff, and enhancing the combination professional operations with activities conducted by the Communist Party and the Trade Unions organizations, so as to make the working environment more professional, innovative and friendly.
The Governor spoke highly of the efforts and initial achievements of all the entities in renovating their organizational structures and functional tasks in line with Decision No.96/2008/ND-CP dated August 26, 2008 on the functions, tasks, mandates and organizational structure of the SBV. In particular, the Governor emphasized the effectiveness and necessity of decentralization of the management system of the SBV by delegating more power to the provincial and metropolitan SBV branches for better implementation of the monetary policies and mechanisms in their locations.
The Governor concluded by emphasizing that in the coming time all the SBV entities should make more efforts to implement the tasks in the second quarter as follows:
- To manage the monetary policy in a flexible and effective manner, while proactively preventing the risk of inflation hike;
- To review and strictly control all the prudent regulations applicable to the credit institutions;
- To secure the liquidity of the banking sector;
- To enhance SBV supervision toward the credit institutions, especially in the areas of foreign exchange operations and the implementation of the interest rate support program; and
- To strengthen information and communication on the achievements of banking operations and timely publication of the monetary directives and policies of the Government and the SBV to the public and enterprises.
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