Directive No. 02/CT-NH12 On Strengthening Publicity of Banking Activities Through Mass Media

DIRECTIVE

OF THE HEAD OF THE STATE BANK

On the matter of enhancing publicity
for banking activities through mass media
Implementing Directive No. 101/NH-CT dated November 20, 1990 on information and press work in the industry and Directive No. 15/CT-NH12 dated December 14, 1996 of the Governor of the State Bank of Vietnam on improving the quality of provincial and city central bank newsletters, the banking sector has formed a relatively complete press system from the central to local levels.

In recent years, the press activities of the banking sector have followed the correct guidelines and orientation of the Central Committee's Ideological and Cultural Department and the Governor of the State Bank of Vietnam, reflecting achievements in banking operations, exemplary individuals and good deeds. At the same time, they have significantly contributed to disseminating new knowledge about market economy, policies, business practices, and management experience in the two-tier banking system.

However, the press activities of the banking sector still reveal many aspects that do not meet the requirements and tasks in promoting banking operations and disseminating banking knowledge to all social strata. The banking press system has not closely and regularly coordinated with central and local news agencies to publicize and explain banking activities in the market economy so that all sectors and people can understand and assist the banking sector in addressing issues arising in its operations.

To address these shortcomings, to encourage mass media to vigorously promote the ongoing reform of banking activities, the Governor of the State Bank of Vietnam instructs:

1. Editors-in-chief of banking newspapers and magazines shall, according to their editorial policies, publish appropriate contents in various forms (news reports, investigative articles, specialized research, topic-based discussions with guidance) to inform readers about issues of interest to them.

2. Emphasize positive aspects in the process of reforming banking activities across all fields: currency, payments, modernization of banks, ensuring capital for industrialization and modernization, agricultural economy, farmers, and rural areas...; report on exemplary individuals and good deeds, and advanced models in the industry over the past few years.

3. The Department of Economic Information and Banking Operations and the Governor's Office must develop plans and programs to closely coordinate with external news agencies to publicize banking activities, addressing both broad and focused issues that are urgent for banking operations.

4. Functional Departments, Bureaus, and commercial banks, together with the Department of Economic Information and Banking Operations, have the responsibility to write articles for external news agencies or discuss issues raised in those newspapers, considering this as their duty.

5. Leaders at all levels of the banking system within their authority and responsibilities shall create suitable conditions for news agencies to accurately and comprehensively reflect all aspects of banking activities through mass media.

6. Governors of the State Bank and commercial banks in provinces and cities must closely interact with local news agencies to regularly report on banking activities and disseminate banking knowledge through various forms on local mass media.

7. When there are prominent issues regarding banking activities in the locality or cases highlighted by central or local media, the Governor of the State Bank branch in the locality must proactively report to the local party committee and government and the central bank while explaining to the media so that the media, readers, and society fully understand the essence and content of the issues reported.

These are regular activities, therefore, the Departments and Bureaus at the Central Bank, Provincial State Banks, and General Directors of State-owned Commercial Banks are required to promptly implement the issues mentioned in this directive seriously.

The Head of the Department of Economic Information and Banking Operations and the Director of the Governor's Office are responsible for monitoring and urging the implementation of this directive.

PROPOSAL

PUBLICITY PLAN FOR BANKING ACTIVITIES IN 1997

Banking activities in our country during the process of renovation are gradually integrating into the international community; the network system and banking operations are expanding and developing rapidly, from legal systems, macro-management tools to new banking operations in the market economy are very new to our society. To gradually disseminate banking knowledge to the general public; based on the industry's activity orientation for 1997, the Central Bank has developed a plan to publicize banking activities through mass media in 1997, especially until May 1997 as follows:

I. OBJECTIVES AND REQUIREMENTS:

 

1. Objectives:

a. Enhance public awareness about banking laws and related codes affecting banking activities.

b. Enable the public to understand the legal environment to contribute to addressing issues arising in banking operations.

2. Requirements:

This is a concentrated, synchronized, extensive, and focused publicity campaign aimed at:

- All banking organizations and key personnel in the industry have the responsibility to participate.

- Mobilizing all available media resources within the industry.

- Attracting mass media outside the industry to respond.

- Leveraging opinions on policies and forums from local party committees and governments.

- Attracting media from business forums and customers.

- Covering topics that are both broad and focused on urgent issues.

- Conducting activities persistently and long-term, but focusing on the first six months of 1997.

II. CONTENT OF PUBLICITY:

The publicity content in 1997 will focus on the following themes:

1. Improving the legal framework for banking activities

- Achievements and shortcomings in the six-year implementation of the Banking Ordinance.

- The process of supplementing and perfecting regulations and mechanisms to create a legal framework for banking activities.

-The process of supplementing and perfecting regulations and mechanisms to create a legal framework for banking activities.

-The process of drafting the Law on Banks. There are still differing opinions duringthe process of drafting the Law on Banks.

-Theoretical and practical foundations for drafting the Law on Banks.

2.On monetary policy:

-Affirming the successes of the industry in implementing monetary policy.

-Discussing and presenting issues raised in the operation of certain tools forimplementing current monetary policy (exchange rates, interest rates, credit limits...).

-The combination between monetary policy and fiscal policy to achieve the goal ofeconomic growth under current conditions. The role of the State Bank and itsindependence in managing monetary policy.

3.On rectifying banking activities following inspections:

-An overall assessment of banking activities in recent years.

-Lessons learned.

-Directions for rectifying banking activities in the future.

+Steps to be taken.

+Organizational measures for implementation.

4.On lending activities:

-Affirming positive aspects of lending activities for economic growth.

-Issues raised and approaches to improve the quality of current lending.

-Causes and methods of handling overdue debts at banks in recent times.

-Difficulties in credit work that need to be resolved to enhance the quality oflending.

5.On capital for industrialization and modernization of the country:

-General solutions for mobilizing capital for the economy and responsibilities ofbanks.

-Current forms of capital mobilization, their effectiveness, and directions fordevelopment.

-How to increase the ability to mobilize medium and long-term capital for economicdevelopment.

-Measures to attract foreign capital.

6.On meeting capital needs for agriculture, farmers, and rural areas (responsibilityof the Agricultural Bank, the Bank for the Poor, and People's Credit Funds):

-Capital requirements for agriculture, especially for remote areas. The role of theAgricultural Bank in recent years.

-Assessing the performance of the system of people's credit funds and the system ofthe Bank for the Poor. Requirements for development and improvement.

-How to enhance the efficiency of capital from people's credit funds and the Bankfor the Poor.

-Difficulties that need to be overcome to create capital and effectively serve thedevelopment of agriculture and rural areas.

7.On modernizing banks:

-The bank modernization program until the year 2000.

-Bank modernization programs that have been and are being implemented. Introducingmodern payment methods currently being implemented. Prospects for modernizingpayments and other areas of bank operations in the future.

-Management methods of modern banks in some countries.

8.On external activities:

-Relations between the Vietnamese Bank and banks in other countries.

-Relations between the Vietnamese Bank and international financial organizations.

-Handling old debts, managing new loans and repayments.

-Expanding international relations of the Vietnamese Bank in the future.

9.On cadre work:

-Evaluating the cadre situation.

-Training programs to upgrade skills and cultivate the qualities of bank staff.

10.On exemplary individuals and good deeds and advanced models:

Thisis a topic rarely covered in mass media, but it deserves attention in 1997. Throughthis topic, we can affirm exemplary models for the entire industry to emulate.

III. PROGRAM AND SOLUTIONS FOR PROPAGANDA

1.Responsibilities of the banking press system:

Dependingon the mission and purpose of each newspaper or magazine, they should publish thecontents mentioned above in various forms: news reports, investigative reports, researchspecial topics, debates with guidance and direction... Especially the topic "Goodpeople and good deeds," the central and local banking press must publish this topicto affirm positive aspects and new models of the banking industry in recent years.

2.Cooperation with non-banking press: (Vietnam News Agency, Hanoi New, Vietnam EconomicTimes, Saigon Economic Times, Financial Times, Investment Newspaper...) to promote theten topics above. These are major economic newspapers in Vietnam that are closelyfollowed both domestically and internationally. Forms include:

-Providing materials for them to write articles.

-Inviting them to conduct field surveys.

-Assigning departments and bureaus to write articles for these newspapers.

-Clarifying or discussing further issues raised in those newspapers. For localnewspapers and local radio stations, local banks must assign personnel to writearticles or organize special banking sections.

3.Cooperation with audio-visual media: Cooperating with the Voice of Vietnam Radio, CentralTelevision, and local television stations.

-Cooperating to provide news on banking activities.

-Cooperating to produce short documentaries.

-Spreading banking knowledge to society. This program is carried out through the"Radio and Television Talk Show" section of the Voice of Vietnam Radio; the "DistanceEducation Program" of Central Television or Hanoi...

4.Staff working for the Project on a part-time basis will be compensated according to current regulations, while staff working under labor contracts will be paid from the Project's operational budget. The Director of the Project Management Board decides on the allocation and specific duties of staff grouped into teams.Propaganda products:

-Issuing special editions of newspapers and magazines to address each issue;

-Publishing special studies on urgent issues (For example: A Q&A book on Banking).

5.Organizing seminars on topical themes.

(Dependingon the situation, specific seminar topics will be determined).

6.Cooperating with foreign-language publications and foreign journalists to report onbanking activities according to guidelines or special topics.

IV. ORGANIZATIONAL MEASURES FOR IMPLEMENTATION

Toimplement the contents and programs above, the following organizational measuresare required:

1.Forming a 1997 Propaganda Steering Committee, consisting of the following members:

a.One Deputy Governor: Chairman

b.The Director of the Information Department of the State Bank and the Head of theOffice: Vice-Chairman.

c.Some Department Directors: Members.

d.The General Director of the Joint Stock Commercial Bank: Member.

2.Meeting with departments and bureaus within the industry to implement the project.

-Conveying the project and the Governor's directive on this matter.

-Assigning writing tasks based on topics and needs;

-Assigning responsibility to answer questions raised in related newspapers accordingto the functions of departments and bureaus.

3. The Steering Committee shall work bilaterally with each editorial board of out-of-sector mass media outlets to unify the content of propaganda, the time for implementation, and the budget (if necessary).

4. Organize for some reporters from economic newspapers and radio stations to go on field trips (carefully select participants to ensure effectiveness).

5. Draft the Governor's Directive on propaganda work for the year 1997 throughout the entire system.

6. The implementation time for these programs will be divided into two phases.

Phase 1: From now until April 30 (specific plans attached).

Phase 2: From May to the end of 1997 (in accordance with the project proposal).

To effectively carry out this propaganda campaign, it is recommended that the Governor allocate a budget to implement the above contents, especially in relation to out-of-sector newspapers and radio stations.

URGENT PUBLICITY TASKS
IN MARCH AND APRIL

(Phase 1)

In March and April, the focus of publicity will be on the following topics:

1. The process of building and perfecting business mechanisms, regulations, and drafting the Law on Banks.

2. Credit work serving economic growth and measures to improve credit quality.

3. Capital for industrialization and modernization.

4. Monetary policy and the management of monetary policy by the State Bank.

To urgently implement these four topics and other topics according to the project proposal, it is recommended:

a. Establish a 1997 Propaganda Steering Committee including the following comrades:

- Comrade Deputy Governor Nguyen Ngoc Anh - Chairperson

- Comrade Director of the Information Department of the State Bank Nguyen Vo Ngoan and Comrade Head of the Office Nguyen Van Binh - Vice Chairpersons.

- Comrades Directors of the Departments of Cadres and Training, Accounting-Finance, Economic Research, Credit, International Relations, Foreign Exchange, Legal Affairs, Inspection, General Control, Management of Credit Organizations, Administration Bureau, Banking Association, and four General Directors of State-owned Commercial Banks as members.

b. Identify key articles needed immediately and assign relevant departments to write and publish them in industry newspapers, radio stations, and other mass media outlets.

c. Assign the Information Department of the State Bank to coordinate with the Banking Association and related departments to organize:

- A roundtable discussion with business leaders to hear their views on bank operating capital and issues requiring resolution.

- A scientific seminar on the issue of the 0.35% discrepancy to have results published before the 11th session of the National Assembly in April 1997.

d. Contract with some economic newspapers to reserve pages dedicated to banking activities and certain topics outlined in the plan.