On June the 8th , the University of Finance and Marketing in conjunction with the Institute of Strategy and Financial Policies - Ministry of Finance and Ho Chi Minh City Business Association held a Scientific Seminar on "Restructuring the commercial banking system in Vietnam" in Ho Chi Minh City. Representatives of the State Bank and Ministry of Finance, scientists, managers, leaders of commercial banks (CBs) and leaders of enterprises attended the seminar.
The workshop focused on discussing and exchanging ideas, sharing academic knowledge, experiences and recommending the solutions for restructuring Vietnamese commercial banking system, improving operational efficiency of commercial banks, enabling banks actually become a positive factor contributing to the country's economic development in the context of international economic integration.
The papers presented at the seminar clearly stated that: After 5 years of international economic integration, the system of commercial banks in Vietnam has grown rapidly in quantity and quality, expanded business networks throughout the country, created a firm basis for Vietnam to change into economic market, and also contributed greatly to the country's economic growth. However, besides the successful integration, commercial banks in Vietnam has revealed some shortcomings and weaknesses such as low capital, low liquidity, increase in bad debt ratio, poor management level, disqualified man power... In this situation, urgent solutions arise to restructure the system of commercial banks.
Contributing solutions for commercial banking system restructuring, the papers presented at the seminar and sent to the workshops specify more clearly than ever that restructuring of commercial banks becomes one of the key issues of national economy, and raises the solutions to contribute to the possible and effective implementation of restructuring process. It is necessary to emphasize the need to enhance the financial autonomy of the bank, promote capital mobilization and efficient use of capital and restructuring route, minimize big impacts on the economy, and actively penetrate into international markets. Participants also raised the issue: restructuring of high-quality human resources is urgently needed to restructure the banking system, it is also important to pay much more attention to banking brand in the process of restructuring ...
Dr. Pham Huu Hong Thai, Vice President of Finance and Marketing University proposed: The State Bank needs to improve management, administration, policy constructing capacity, forecasting capacity, quality of employment and modernization of banking technology. It is necessary to restructure the organization and functions to improve the efficiency of macro management towards building a modern central bank in accordance with common practices of the world, in the meantime, continue to supplement and complete legal framework and policy mechanism, and ensure smooth, safe and effective operation of the banking system.
M.A Vu Thi Phuong Hoa, coming from Institute for Strategy and financial policy emphasized: In the context of carrying out the restructuring in order to ensure the security and sustainable stability of financial market, a lot of important work has to be conducted at the same time, not only restructuring the market but also make fundamental reforms, comprehensive management system from the institution, law, technology to human problems. Market restructuring measures are applied by state agencies and their efficiency should be considered in the overall macroeconomic condition.
Source: Vietnam News Agency
