On May 15, in Hanoi, the Vietnam Development Bank (VDB) held a ceremony to celebrate its 20th anniversary, marking the journey of building, growing and continuing to affirm its role as an important financial tool of the Government in promoting investment and development.
Speaking at the anniversary ceremony, Deputy Minister of Finance Nguyen Duc Chi affirmed that this is an important milestone of a key policy financial institution of the State.
After nearly two decades of operation, the bank has affirmed its role as an important financial tool in promoting growth, economic restructuring and ensuring social security.
According to Deputy Minister Nguyen Duc Chi, VDB has played the role of "paving the way", leading capital into key areas where commercial credit is difficult to meet due to large capital needs, long investment times and needing state support.
State credit capital through VDB has contributed to the implementation of many key national projects such as Son La and Lai Chau hydropower plants, Dung Quat Oil Refinery, VINASAT 1 and 2 satellites, Hanoi - Hai Phong expressway, Bac Lieu wind power and a series of energy, transportation, telecommunications and other socio-economic infrastructure projects.
Not only focusing on economic growth, VDB also links credit activities with social security and national defense goals through rural infrastructure programs, schools, hospitals, clean water and social housing.
In the field of export credit, the bank has supported businesses to expand markets, improve competitiveness and participate more deeply in the global value chain, thereby contributing to mobilizing resources for large-scale infrastructure development investment and creating a foundation for sustainable growth.
Leaders of the Ministry of Finance said that VDB is in the restructuring phase and has initially achieved many positive results. The bank's financial situation and credit quality have gradually improved, close to achieving the goal of offsetting accumulated losses and handling bad debts according to the approved plan.
Along with that, VDB has implemented investment credit activities under a new mechanism. In 2024, the growth of outstanding investment credit reached nearly 8%. The bank has also gradually streamlined its apparatus, improved human resources quality and modernized information technology.
According to the assessment of the Ministry of Finance, the VDB restructuring process is going in the right direction with substantial changes in three aspects: financial sanitation, governance innovation and restoring the capacity to implement the State's investment credit policy.
This is considered the foundation for VDB to complete its goals by 2027 and prepare a suitable operating model for the next phase.
Representative of VDB, Mr. Le Van Hoan - Chairman of VDB - said that in the coming time, VDB will continue to effectively implement the restructuring project for the period 2023-2027; consolidate financial capacity; improve the efficiency of management and risk management; promote digital transformation and information technology modernization.
The bank also aims to continue to provide medium and long-term financial resources for important infrastructure sectors, strategic areas, remote and isolated areas, digital transformation, green transformation and basic industries of the economy," Mr. Le Van Hoan shared.
