The Government requested the restructuring of
Vietnam Development Bank (VDB) to heighten efficiency.
Under a
recent request by Deputy Prime Minister Vu Van Ninh, VDB has been asked to form
a restructuring strategy that would go into 2020.
Reports
from the bank were requested to be sent to the Ministry of Finance before
submission to the Prime Minister for approval.
The VDB
must also review their credit policies concerning exports involving the State's
investment, as well as reviewing the past experience of state development banks
in other countries, Ninh said.
He
added that the bank must be fully aware of its assumed role in developing the nation’s
economy.
The
deputy PM assigned the Ministries of Finance, and Planning and Investment as
well as the State Bank of Vietnam (SBV) to appraise VDB’s restructuring plan.
The SBV
and the Ministry of Finance, in coordination with other relevant agencies, have
been given the role of assisting the VDB in the risk appraisal for debts and
management operations.
The VDB
was established in 2006, with a total registered capital of VND5 trillion (USD239.69
million),
The
bank was intended to operate as a non-profit institution, with a charter to develop
the nation's export markets. The intention was for it to be an institution that
facilitated importers and exporters, foreign and domestic, working within
Vietnam.
An Ha |
dtinews.vn
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