Talking to reporters, Mr. Bui Van Nu, Director of Binh Duong Branch of State Bank of Vietnam, informed financial supporting measures for enterprises affected by overt reactions of anti-China protesters to recover operations.Reporter: Sir, what actions has State Bank of Vietnam (SBV) carried out to support the affected enterprises locally?Mr. Bui Van Nu: Currently, credit institutions in the province in relation to the bank have hundreds of enterprises, individuals, and organizations, prompting the grasping up of information about clients related to the enterprises. SBV and the working team of Provincial People’s Committee met enterprises, on the one hand, to encourage them, and on the other hand, to investigate the reality that those enterprises have been facing to propose reasonable supporting measures.As for banking sector, we have coordinated with credit institutions locally to propose some measures and policies of SBV to help enterprises recover from damages.Reporter: What are the measures, sir?Mr. Bui Van Nu: Through our consideration, we consulted with Provincial People’s Committee to propose to the government some measures of SBV. Local banking system of the locality has been maintained to ensure trading on capital supply to enterprises and organizations as well as keepitng credit lines as signed with enterprises. In posible conditions, credit institutions shall consider loan offerings to enterprises qualified for the support to recover their production as well as implementing purchase orders. It was proposed to SBV Governor and the government that policies of extended, exempted and limited debts should be implemented on the basis of particular situations of enterprises so that they could recover their production. If we fail to do this, enterprises may fall trapped to overdue debts, causing them to be more in difficult situations where the bank would eventually fail to recover the debts.All the policies should be implemented timely with guidance based on evaluation of damages made and in accordance with enterprises’ needs.The evaluation shall be made by SBV while credit institutions make evaluation together with specific proposals. After the decisions are made, Binh Duong Branch of SBV shall promote necessary procedures to accelerate the decisions.As for enterprises suffering from banking document damages, they shall be supported by the bank to recover from bank document archive.Reporter: Does the damage done to enterprises affect banking, sir?Mr. Bui Van Nu: Actually, if enteprises are affected, banks does too as their debt guarantees should be declined as the damages incurred. That is the risky part of banking; however, we shall try all our best to implement measures to support the enterprises. We are ready for sharing information through such measures. Currently, the banking status of our system is very stable to support enterprises in terms of financial needs. Reporter: Thank you!Interviewed by Thanh Hong – Translated by Vi Bao
Banking sector actively and robustly support enterprise community, confirmed Director of Binh Duong Branch of State Bank of Vietnam
Talking to reporters, Mr. Bui Van Nu, Director of Binh Duong Branch of State Bank of Vietnam, informed financial supporting measures for enterprises affected by overt reactions of anti-China protesters to recover operations.Reporter: Sir, what actions has State Bank of Vietnam (SBV) carried out to support the affected enterprises locally?Mr. Bui Van Nu: Currently, credit institutions in the province in relation to the bank have hundreds of enterprises, individuals, and organizations, prompting the grasping up of information about clients related to the enterprises. SBV and the working team of Provincial People’s Committee met enterprises, on the one hand, to encourage them, and on the other hand, to investigate the reality that those enterprises have been facing to propose reasonable supporting measures.As for banking sector, we have coordinated with credit institutions locally to propose some measures and policies of SBV to help enterprises recover from damages.Reporter: What are the measures, sir?Mr. Bui Van Nu: Through our consideration, we consulted with Provincial People’s Committee to propose to the government some measures of SBV. Local banking system of the locality has been maintained to ensure trading on capital supply to enterprises and organizations as well as keepitng credit lines as signed with enterprises. In posible conditions, credit institutions shall consider loan offerings to enterprises qualified for the support to recover their production as well as implementing purchase orders. It was proposed to SBV Governor and the government that policies of extended, exempted and limited debts should be implemented on the basis of particular situations of enterprises so that they could recover their production. If we fail to do this, enterprises may fall trapped to overdue debts, causing them to be more in difficult situations where the bank would eventually fail to recover the debts.All the policies should be implemented timely with guidance based on evaluation of damages made and in accordance with enterprises’ needs.The evaluation shall be made by SBV while credit institutions make evaluation together with specific proposals. After the decisions are made, Binh Duong Branch of SBV shall promote necessary procedures to accelerate the decisions.As for enterprises suffering from banking document damages, they shall be supported by the bank to recover from bank document archive.Reporter: Does the damage done to enterprises affect banking, sir?Mr. Bui Van Nu: Actually, if enteprises are affected, banks does too as their debt guarantees should be declined as the damages incurred. That is the risky part of banking; however, we shall try all our best to implement measures to support the enterprises. We are ready for sharing information through such measures. Currently, the banking status of our system is very stable to support enterprises in terms of financial needs. Reporter: Thank you!Interviewed by Thanh Hong – Translated by Vi Bao
