Illustrative image (Photo: VNA)
 
Hanoi (VNA) – Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu has stated that the SBV will continue stepping up administrative reform in the near future, with a focus on improving the business environment in monetary and banking fields, and corporate support. 

Tu said over the past few years, the SBV has reaped positive reform results in six fields under a comprehensive programme on state administrative reform, including cutting 31 percent of business requirements and 20 percent of periodic reporting, as well as ensuring openness and transparency to ISO 9001:2008 standards.

According to Tu, credit organisations also actively removed administrative procedures to make it easier for businesses and individuals to use services.

Last year, they lowered lending rates to help firms access loans at reasonable costs, providing them with nearly 100 preferential credit products, 15 of which were for small- and medium-sized enterprises and start-ups.

In order to achieve such results, the SBV directed credit organisations to accelerate reform in lending procedures and banking services, as well as suggesting that the Government work with ministries, agencies, and localities to offer e-payment solution to public services.

At a recent conference to announce the Public Administration Reform Index 2018 (PAR INDEX), the SBV ranked first in the administration reform index among ministries, ministry-level agencies, and the People’s Committees of centrally-run cities and provinces for the fourth consecutive year, scoring 90.57 percent. –VNA