Linking Party work with practical professional tasks
During the 2020 - 2025 term, the Central Party Committee of the Social Policy Bank issued 12 action programs (including 2 action programs to implement the Resolutions of the Party Congresses at all levels), 16 Resolutions and many important directives to lead the implementation of the unit's political tasks. 100% of key leaders develop personal action plans, demonstrate the spirit of innovation, dare to think, dare to do, dare to take responsibility. The implementation of the coordination regulations between the Party Committee and the General Director of the VBSP has clearly promoted its effectiveness, creating high unity in leadership and direction of the implementation of political tasks of the entire system.
The Party Committee has firmly achieved the goal of national independence and socialism, taking Marxism-Leninism and Ho Chi Minh's ideology as the ideological foundation, focusing on improving the leadership capacity and fighting strength of the Party organization; promoting the political nuclear role of the leader. Inspection, supervision, self-criticism and criticism work is maintained regularly, ensuring discipline and principles in Party activities.
The unions have promoted their role in caring for and protecting the rights of workers; the team of cadres, party members, and workers maintain political courage, work with peace of mind, agree, and accompany the development of the system.
This is the foundation for each content of the Party Resolution to be realized. For example, Directive No. 40-CT/TW, Resolution of the 5th National Assembly identifies leadership and direction as a key task, throughout the term. On that basis, the Central Committee of the Social Policy Bank has concretized into Resolutions, Programs, and operational Plans with specific and synchronous goals, tasks, and solutions. Proactively coordinate with central departments and ministries to study and advise the National Assembly, the Government, and the Prime Minister to promptly remove difficulties and "bottlenecks" in resource allocation. At the same time, direct the VBSP at all levels to actively advise local Party committees and authorities to increase resources from local budgets to entrust through the VBSP to supplement lending capital; link social policy credit with the implementation of socio-economic development goals and the implementation of national target programs; propose and advise the Party, the National Assembly and the Government to perfect the policy mechanism on social policy credit, on the organization and operation of the VBSP. At the same time, from the requirement of principle and lessons learned from the practical implementation of social policy credit, it is necessary to place it under the unified leadership of the Party, management of the State and the participation of the entire political system, the VBSP closely coordinates with Party agencies at the central level and ministries and branches to advise the Central Party Secretariat to issue Directive No. 39-CT/TW dated October 30, 2024 on improving the effectiveness of social policy credit in the new period.
This is the foundation for each content of the Party Resolution to be realized. For example, Directive No. 40-CT/TW, Resolution of the 5th National Assembly identifies leadership and direction as a key task, throughout the term. On that basis, the Central Committee of the Social Policy Bank has concretized into Resolutions, Programs, and operational Plans with specific and synchronous goals, tasks, and solutions. Proactively coordinate with central departments and ministries to study and advise the National Assembly, the Government, and the Prime Minister to promptly remove difficulties and "bottlenecks" in resource allocation. At the same time, direct the VBSP at all levels to actively advise local Party committees and authorities to increase resources from local budgets to entrust through the VBSP to supplement lending capital; link social policy credit with the implementation of socio-economic development goals and the implementation of national target programs; propose and advise the Party, the National Assembly and the Government to perfect the policy mechanism on social policy credit, on the organization and operation of the VBSP. At the same time, from the requirement of principle and lessons learned from the practical implementation of social policy credit, it is necessary to place it under the unified leadership of the Party, management of the State and the participation of the entire political system, the VBSP closely coordinates with Party agencies at the central level and ministries and branches to advise the Central Party Secretariat to issue Directive No. 39-CT/TW dated October 30, 2024 on improving the effectiveness of social policy credit in the new period.
Or as soon as the Prime Minister approved the Social Policy Bank Development Strategy to 2030, the Central Party Committee of the Social Policy Bank issued a Resolution; the Board of Directors of the Social Policy Bank established a Steering Committee, issued an Implementation Plan, the General Director of the Social Policy Bank issued a Specific Action Program; agreed on the perception of viewpoints and goals; at the same time, specified tasks and solutions on the basis of clearly assigning people, work, time, authority and progress for implementation. In particular, the VBSP continues to maintain and improve the effectiveness and efficiency of the organizational model and specific management methods, in line with Vietnam's reality. Maintaining, consolidating and improving the effectiveness of the trust and strict management of the operations of 168,460 Savings and Loan Groups, constantly improving the quality of transaction activities at 9,970 commune transaction points, continuing to bring many modern banking utilities, products and services, at low costs, suitable for the poor and other policy beneficiaries.
The VBSP has proactively coordinated with the State Bank of Vietnam and ministries and branches to advise the Government and the Prime Minister to submit to the National Assembly amendments and supplements to many important contents in the Law on Credit Institutions, legalizing issues of principle on the organizational model and operation methods of policy banks that have been proven correct and appropriate in practice.
Innovation, building a team of cadres for the people
The 2020 - 2025 term also witnessed a breakthrough in digital transformation of the VBSP. Determining that promoting the application of information technology (IT) and implementing the Digital Transformation Plan is a key and continuous task throughout the term, the Central Committee of the Vietnam Bank for Social Policies has established a Steering Committee, issued 02 thematic Resolutions; the General Director of the Vietnam Bank for Social Policies has issued an Implementation Plan. With specific goals and requirements, the VBSP has focused on human and material resources to implement 11 projects, 27 investment items to upgrade technical infrastructure, communication network systems, monitoring systems, security, safety and security solution systems; upgrade and develop 12 software.
The promotion of modern IT application has contributed to improving the effectiveness of governance, operation, supporting professional handling, inspection, supervision... to ensure accuracy and safety; diversifying modern products and services, improving customer service quality and effectively implementing credit programs; at the same time, contributing to the successful implementation of the Comprehensive Financial Strategy under the direction of the Government and the Social Policy Development Strategy to 2030.
Along with professional work and digital transformation, the Party Committee has paid attention to directing the implementation of solutions, creating an environment and conditions for comprehensive development for cadres and workers. During the term, the VBSP organized 141 classes for 9,170 cadres in the system, contributing to the formation of a team of cadres with political courage, self-respect, autonomy in living and working according to the law, and wholeheartedly serving the people. At the same time, through the Regulation in coordination with members of the Board of Directors - General Director, the Party Committee has led and directed the launch of many emulation movements to excellently complete political tasks; encourage scientific research, innovation, promote initiatives, and improve professional processes. During the term, the VBSP approved 4,504 initiatives, accepted 64 scientific research topics and applied them in practice, bringing practical results.
Promoting inclusive growth, no one is left behind
In leadership and direction, the Central Committee of the Social Policy Bank has realized and most clearly reflected in the credit picture for the 2020 - 2025 term that policy capital continues to grow stably, increasingly meeting the demand for loans of the poor, policy beneficiaries and implementing the orientation of expanding the scope, scale, and subjects, raising lending levels in accordance with the goals of national target programs, socio-economic development goals and policies to promptly respond to epidemics and natural disasters on a large scale.
As of May 31, 2025, total policy credit capital reached VND 410,857 billion, an increase of VND 1989:64 billion (+94%) compared to the beginning of the term, with an average annual growth rate of 12.8% (higher than the average capital growth rate in the previous term).
In particular, receiving capital entrusted from local budgets is a highlight of the term on the basis of effectively implementing the policy of "Central and local cooperation", focusing on mobilizing resources to implement policy credit nationwide. By May 31, 2025, the capital entrusted from localities at all levels reached VND 61,427 billion, of which the capital entrusted to the provincial level was VND 50,906 billion, the capital entrusted to the district level was VND 10,521 billion, an increase of VND 45,993 billion (298%) compared to the beginning of the term, an average annual growth rate of 28.3%; bringing the proportion of local capital entrusted to the province compared to before the Directive from 3% to 15% of total credit capital.
Policy credit continues to be effectively invested in 100% of communes, wards and towns across the country. By May 31, 2025, total outstanding loans of credit programs reached VND 389,388 billion, an increase of VND 182,583 billion compared to the beginning of the term, the average annual outstanding growth reached 12.2%, an increase compared to the average of the previous term, with more than 6.8 million customers still in outstanding loans.
During the term, more than 12 million poor households and policy beneficiaries have borrowed capital from the VBSP with a total lending turnover of VND 555,044 billion. Policy capital has contributed to attracting and creating jobs for more than 3.8 million workers, of which over 37,000 workers are working abroad for a limited period; nearly 12,000 workers who have completed their prison sentences have borrowed capital to create jobs; helped nearly 351 thousand students in difficult circumstances borrow capital to study; built over 8.1 million clean water and sanitation works in rural areas; over 49,000 social housing units and over 24,000 houses for poor households and policy beneficiaries.
Entering the 2025 - 2030 term, in the context of the world and regional situation still facing many potential uncertainties, in addition to opportunities and many challenges in socio-economic development, the need to improve the effectiveness of social policy credit becomes more urgent. The effective implementation of Directive No. 39-CT/TW will continue to be a consistent orientation, ensuring that policy credit is a humane economic tool, promoting inclusive growth, leaving no one behind.
In the new period, the Central Committee of the Social Policy Bank determined to continue perfecting the mechanism and policies for social policy credit in a synchronous direction with socio-economic development strategies, Comprehensive financial strategies, and the Social Policy Bank Development Strategy to 2030. Building a social policy bank into a modern public financial institution, capable of autonomy, operating not for profit but effectively and professionally, focusing on serving disadvantaged groups and areas that the market cannot meet.
Along with that, it is necessary to continue to improve the leadership capacity and fighting strength of the Party organization; build a truly strong and comprehensive Central Committee of the Social Policy Bank, as the core in orienting, organizing and supervising the implementation of social credit policies nationwide, contributing significantly to ensuring the social policy orientation in implementing the National Target Programs, social security policies, and socio-economic development of the country.
