On March 20, in Dak Lak province, the State Bank of Vietnam held a conference to promote bank credit, contributing to economic growth in region 11 (including 5 provinces in the Central Highlands).
According to the State Bank of Vietnam, at the end of 2024, the unit has assigned credit growth targets for 2025 (about 16%) to credit institutions to be proactive, meeting the capital needs of people, businesses, and the economy.
In 2025, credit institutions must resolutely implement credit growth solutions that are correct and targeted. Units need to simplify the credit granting process and procedures... to facilitate access to bank credit capital.
As of February 28, total outstanding credit in region 11 reached over VND590,000 billion, up 0.54% compared to the end of 2024, accounting for about 3.75% of total outstanding loans in the whole economy.
The credit structure is in line with the economic development orientation of the region. Of which, lending for agricultural and rural development accounts for 62% of total outstanding loans in the region.
Some key agricultural products such as coffee account for 73% of outstanding coffee debt nationwide; pepper accounts for 47% of outstanding pepper debt nationwide....
At the conference, delegates focused on discussing and exchanging a number of important contents.
Including credit performance in Region 11 in the first months of 2025; lending interest rate policy; the ability to effectively expand credit in 2025, contributing to promoting sustainable economic growth; orientation for credit activities in the coming time...
Mr. Doan Thai Son - Deputy Governor of the State Bank of Vietnam - highly appreciated the achievements of the banking industry in the sector of 11 in the first months of 2025.
According to Mr. Son, to promote credit growth in the region, the State Bank will continue to closely follow the instructions and socio-economic programs of localities.
The State Bank will synchronously implement solutions on monetary policy management, credit, reduction of deposit interest rates and lending. The State Bank will direct credit to production and business sectors, priority sectors, and growth drivers.
"However, credit institutions need to strictly control credit for areas with potential risks. In addition, the unit also focuses on investing credit in key projects and works... to serve the development of key sectors of the region and locality", Mr. Son added.
