Directive No. 10/2000/CT-NHNN14 on credit to serve the development of agriculture and rural areas, aiming to implement Resolution No. 09/2000/NQ-CP dated June 15, 2000 of the Government.

DIRECTIVE OF THE GOVERNOR OF THE STATE BANK

Regarding credit services for agricultural and rural development,

to implement Resolution No. 09/2000/NQ-CP dated June 15, 2000 of the Government.

Implementing Decision No. 67/1999/QĐ-TTg dated March 30, 1999 of the Prime Minister on certain credit policies of commercial banks serving agricultural and rural development; in recent times, the entire banking industry has made many efforts in expanding investment credit in the agricultural and rural sectors and has achieved some notable results, contributing to promoting agricultural production and economic and social development in rural areas.

To implement the target set forth by the Government in Resolution No. 09/2000/NQ-CP dated June 15, 2000, which is: "To build a strong agriculture, sustainable development, applying high and new technologies, gradually modernizing, striving to become an agricultural sector with large-scale commodity production, increasingly competitive in the process of international integration, achieving high productivity and income per unit area, meeting the demand for food and raw materials for industry, increasing export turnover and protecting the ecological environment, contributing to improving farmers' living standards, stabilizing the economy and society," the Governor of the State Bank requests the General Directors of state-owned commercial banks, the General Directors (Directors) of credit organizations, Heads of units under the State Bank, and the Governors of provincial and municipal branches of the State Bank to implement the following contents:

I. For state-owned commercial banks and credit organizations:

1. Strengthen capital mobilization from all sources to fully and promptly meet the capital needs and expand credit investment in the agricultural and rural sectors based on actively approaching effective production and business plans, ensuring the ability to recover capital, and being consistent with the planning and development plans of the industry and localities.

Specifically examine, based on actively grasping market information for each type of agricultural, forestry, aquatic, and marine products to plan investment capital for developing short-term industrial crops (oil plants, mulberry trees, cotton), some long-term crops with high value such as coffee, cashew nuts, rubber, tea, vegetables and fruits, livestock breeding, aquaculture and fishing.

Pay attention to credit investment in production stages, creating job opportunities for laborers in agriculture and rural areas, focusing on developing processing industries, post-harvest technology, industries producing high-value processed export products, developing production in traditional craft villages in rural areas, prioritizing those industries with significant potential and comparative advantages, and employing a large number of workers.

2. Regarding loans to Cooperatives and farm households:

a. Commercial banks need to proactively consider expanding credit investment in the Cooperative economic model in accordance with the guidance of the Prime Minister in Decision No. 67/1999/QĐ-TTg dated March 30, 1999 of the Prime Minister. Focus on cooperatives that have transformed according to the Law on Cooperatives to approach and develop appropriate investment solutions; carefully examine the stages requiring investment where cooperatives can leverage their advantages and economic efficiency.

b. Commercial banks need to closely follow the guidance of the People's Committee of provinces and cities on the orientation for developing farm households in accordance with Resolution No. 03/2000/NQ-CP dated February 2, 2000 of the Government and conduct surveys to determine the number of farm households in the area according to the guidelines at Circular Joint Circular No. 69/2000/TTLT-BNN-TCTK dated June 23, 2000 of the Ministry of Agriculture and Rural Development and the General Statistics Office on the criteria for determining farm households to understand the quantity and characteristics of production and business activities of this type and develop specific investment measures, especially farm households producing under contract sales agreements.

3. Closely monitor the use of credit capital, take measures to resolve difficulties in the investment process in a timely manner, ensuring rapid, safe, and efficient capital circulation.

4. Develop measures to enhance the capacity and competence of credit officers to enable them to effectively approach projects, supplement the number of credit officers to meet the requirements of credit organization operations, and link the benefits and responsibilities of credit officers.

Review files and procedures; streamline business processes to ensure safety. Strictly prohibit arbitrary actions and guidance contrary to the general regulations of the Governor of the State Bank. In case of issues arising during implementation regarding mechanisms and policies, report to the Governor of the State Bank for prompt resolution.

Study and reasonably arrange organizational structures and service networks to facilitate the vigorous investment of comprehensive credit into agriculture and rural areas.

II. For units under the State Bank::

1. Units at the headquarters of the State Bank:

a. Need to continue researching to perfect regulatory documents of the State Bank in guiding credit activities, creating a favorable environment for credit organizations to operate safely and smoothly.

b. To ensure smooth management by the State Bank, within their functional scope, Departments and Bureaus need to promptly and timely address issues and proposals in the credit activities of credit organizations and related units.

2. Provincial and Municipal Branches of the State Bank:

a. Urge and direct credit organizations in the area, review and identify shortcomings and weaknesses in business operations, eliminate bureaucratic practices and fear of responsibility, improve work styles in banking activities to better serve and conduct business.

b. Monitor and inspect the implementation of lending mechanisms by credit organizations, promptly identify difficulties and obstacles faced by credit organizations, report to relevant authorities for timely resolution.

c. The Director of the Branch of the State Bank of Vietnam in provinces and cities requests credit institutions within their jurisdiction to fully and promptly report in accordance with Circular No. 320/CV-NHNN14 dated April 16, 1999, issued by the Governor of the State Bank of Vietnam on the implementation of Decision No. 67/1999/QĐ-TTg dated March 30, 1999, of the Prime Minister.

d. To enhance cooperation between the banking sector and local authorities, mass organizations at the grassroots level, the Director of the State Bank of Vietnam's branch in provinces and cities shall develop specific plans to implement common tasks related to credit for rural and agricultural development, aiming to fulfill Resolution No. 09/NQ-CP dated June 15, 2000, of the Government; organize regular meetings between the directors of credit institutions participating in lending for rural and agricultural development and representatives of the People's Committee of the province/city, relevant departments, the Fatherland Front, the Farmers' Union, and some elected representatives to report on completed activities and seek opinions on future actions in credit and investment activities for agriculture and rural areas.

The above are some directives from the Governor of the State Bank of Vietnam regarding credit services for rural and agricultural development to implement Resolution No. 09/2000/NQ-CP of the Government. Heads of units under the State Bank of Vietnam, Directors of the State Bank of Vietnam's branches in centrally governed provinces and cities, General Directors (Directors) of state-owned commercial banks, and General Directors (Directors) of credit institutions participating in lending for rural and agricultural development are responsible for strictly implementing this Directive./.