On the morning of April 10, Deputy Governor of the State Bank of Vietnam (SBV) Nguyen Ngoc Canh attended the 3rd National Cooperative Forum in 2026 with the theme "Connecting cooperative economy with the private economic ecosystem".
Speaking at the Forum, Deputy Governor of the SBV Nguyen Ngoc Canh emphasized that the collective economy and cooperatives are one of the important economic components that the Party and State are interested in, consolidating and developing together with the state economy and the private economy to become a solid foundation of the national economy.
With the role of a state management agency on currency and banking operations, the Deputy Governor said that in the past time, the SBV has implemented many synchronous solutions to create favorable conditions for the collective economic sector and cooperatives to access capital and financial and banking services.
The SBV manages monetary policy (MP) proactively and flexibly to control inflation, contributing to maintaining macroeconomic stability and supporting economic growth. In 2025 and the first months of 2026, the SBV will continue to maintain operating interest rates to create conditions for credit institutions (CIs) to access capital from the SBV at low costs.
The SBV has also directed credit institutions to reduce operating costs to have the opportunity to share loan interest with customers; Regulations on short-term lending interest rates for priority sectors, in which cooperatives borrow capital to implement priority sectors, enjoy a maximum interest rate in VND currently at 4%/year, lower than the general interest rate.
The SBV also regularly reviews and completes regulations on credit granting through submitting to the National Assembly for promulgation the Law on Credit Institutions in 2024, the Law amending and supplementing in 2025 and completing guiding documents for the Law on Credit Institutions, including supplementing regulations on forms of electronic credit granting, regulations on the value of small loans that do not require proof of loan plans, creating a favorable legal corridor to increase access to capital for people, businesses, and cooperatives.
Deputy Governor Nguyen Ngoc Canh emphasized that the SBV always pays attention to implementing credit solutions to develop linkages in production, especially linkages between cooperatives and businesses in agricultural production. Accordingly, since 2015, the SBV has advised and submitted to the Government for promulgation Decree No. 55/2015/ND-CP stipulating preferential credit mechanisms for non-secured lending and preferential interest rates to encourage linkages in agriculture.
According to the Deputy Governor, these mechanisms are regularly reviewed by the SBV, promptly proposing amendments and supplements in accordance with practical requirements, such as Decree No. 116 in 2018 and in June 2025, the SBV continued to submit to the Government for promulgation Decree No. 156/2025/ND-CP with more preferential mechanisms, including beneficiaries being cooperatives, cooperative unions (LHHTX), and cooperative members.
In particular, the Deputy Governor said that the SBV has designed preferential interest rate policies to support cooperatives to borrow capital at low costs to serve production development through the implementation of credit programs to promote linkages between cooperatives and businesses, such as:
The loan program for the agricultural, forestry and fishery sector with a scale of 185,000 billion VND (scale has been increased 3 times), the loan program for 1 million hectares of high-quality and low-emission rice in the Mekong Delta region is implemented by the SBV in coordination with the Ministry of Agriculture and Environment.
With the synchronous implementation of the above solutions, the lending results for cooperatives and LHHTX reached about 7 trillion VND. In addition to outstanding loans for cooperatives and LHHTX, CIs also lend to individuals and households who are members of cooperatives to meet the production needs of cooperatives and LHHTX.
To date, outstanding credit balance for individuals and households, including individual members of cooperatives, has reached over 8.5 million billion VND, accounting for about 46% of the total outstanding debt of the entire economy.
Regarding the orientation for the coming time, the Deputy Governor said that, implementing the policy of the Party and State, to contribute to the development of the KTTT sector, the SBV will focus on key solutions such as:
Continue to review and improve mechanisms and policies, creating favorable conditions for credit institutions in credit granting activities; direct credit institutions to improve and innovate credit granting processes, procedures, and conditions in accordance with the requirements and practical operations of cooperatives to gradually expand and strengthen capital support as well as access to bank credit capital for cooperative types; Direct credit institutions to actively implement preferential credit policies and programs with low interest rates; Increase credit for cooperative and business production linkage models.
