State Bank to continue administrative reform

The SBV over past years has achieved positive reform results in six fields under a comprehensive programme on State administrative reform, including reducing 31 per cent of business requirements and 20 per cent of periodic reporting, as well as ensuring openness and transparency under ISO 9001:2008 standards, according to Tu.

Credit organisations have also removed administrative procedures to make it easier for businesses and individuals to use services.

Last year, they lowered lending rates to help firms access loans at reasonable costs, providing them with nearly 100 preferential credit products, 15 of which were for small- and medium-sized enterprises and start-ups.

To achieve such results, the SBV directed credit organisations to accelerate reform in lending procedures and banking services, and suggested that the Government work with ministries, agencies, and localities to offer e-payment solutions for public services.

At a recent conference to announce the Public Administration Reform Index 2018 (PAR INDEX), the SBV ranked first in the administrative reform index among ministries, ministry-level agencies, and the people’s committees of centrally-run cities and provinces for the fourth consecutive year, scoring 90.57 per cent.