Phát triển hoạt động tín dụng xuất khẩu tại Ngân hàng Phát triển Việt Nam

instrument. Vietnam could use this instrument to enhance the exports to the market. Thirdly, export credit of the State is not only an economic instrument, but also a social and political instrument. Through export credit of the State instrument, many countries have increased their influence over other countries by the implementing subsidising policy for foreign importers, making beneficiaries are increasingly dependent on donors. Countries with strong financial backgrounds can do this, nevertheless, other countries may also have these opportunities.

Through analysis and explanation of three (3) assumptions above, the author believes that assumption one (1) is considered as the best approach for development of export credit of the State in Vietnam.

Chapter 3

DEVELOPMENT OF EXPORT CREDIT OF THE STATE ACTIVITIES AT VIETNAM DEVELOPMENT BANK

3.1 VIETNAM STRATEGIC DEVELOPMENT PLAN AND VIETNAM DEVELOPMENT BANK STRATEGIC DEVELOPMENT PLAN UNTIL 2020

3.1.1 Vietnam strategic development plan until 2020

3.1.2 VDB strategic development plan until 2020

3.1.2.1 VDB strategic goals

General goals: Maintaining and developing VDB as a bank for social policies with non-for-profit drive, also with sustainable and efficient development, adequate capability in the implementation of Investment Credit and State-owned export credit policies as well as other designated mission by the Government, Prime Minister; taking part in achieving social economic strategic and development plan.

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Specific goals

 Sustaining credit growth around 10%/per year for the period 2016 – 2020, given that, VDB’s asset in 2020 would reach 500.000 billion VND. After 2020, credit growth level would remain reasonable in regard with social-economic development.

 Determining the proportion between shareholder equity and capital mobilisation. Having a progress plan to increase reasonably shareholder equity compared to total outstanding balance of VDB’s export credit appropriately for each specific period of time.

 Advancing the credit quality with the aim to reduce the total bad debt proportion to under 7% in 2015, 4-5% in 2020 and this proportion would be under 3% for the period of 2020 – 2030.

 Standardising banking procedure to meet the development support requirement by the Party and State.

3.1.2.2. VDB’s operational orientation

 Serving subjects

 Safe financing indicators

 Renovation of banking management

 Restructuring of banking operations: 1st period up to 2015; 2nd period from 2016 to 2020 and 3rd period beyond 2020.

3.2 SOLUTION FOR THE DEVELOPMENT OF CREDIT OF THE STATE ACTIVITIES AT VIETNAM DEVELOPMENT BANK

3.2.1 Suggestions for VDB

3.2.1.1 Revising management regulation of export credit in line with practical circumstances

The revision of management regulation is to strengthen the managing of export credit with the aim to improve the efficiency and the promotion of export in the new era:

 Expanding the subject of export credit granting.

 Adding regulation for fishery industry in which specifies the conditions of selling aquatic products to seafood processing companies.

 New regulation on risk management and risk approaches regarding export credit of the State.

 With loan guarantee level: new regulation should be made on that the loan guarantee level would be at maximum of 90% of total exporting contract value or the financial requirement of the company.

3.2.1.2 Increase the capital mobilisation of VDB

 Issuing VDB’s bond, which is guaranteed by the State, as a main capital source.

 Researching and preparing of the issuing of mentioned VDB’s bond to capital markets around the world.

3.2.1.3 Strengthen the credit management with decentralised distinctive

 The purpose of strengthening the credit management: to build an efficient online- based credit management system as a mean to fulfil customer’s credit demand at VDB.

 Decentralising the credit approval process: this could lead to a necessary growth for export credit activities.

3.2.1.4 Strictly follow the export credit procedure

This type of activity, export credit, contains potential risk within, thus, it is a must- complied requirement that all export credit procedures should be followed accordingly such as: improving credit approval, detecting and controlling for bad debt.

3.2.1.5 Need of internal control activities

Internal control plays an important role in advancing both the quality of management and the quality of export credit activity.

3.2.1.6 Growing of VDB’s promotion

From marketing aspect

 To list targeted customers which are companies operating in exporting industries for approaching purpose.

 To inspect the potential and demand of both current and going-to-be customer for appropriate credit policies.

 To promote the State’s credit policy in stimulating exporting activities and to play a supporting role for companies in need.

From VDB’s brand promotion aspect

 Through vary channels to publicise the VDB’s image towards companies in different economic sectors with the aim to gain a comprehend of VDB’s operations, missions, and supporting role regarding to export credit ground.

3.2.1.7 Cooperating with other commercial banks in export credit function

 To maintain a regularly direct communication with commercial banks or through State Bank’s Credit information central for any update of customer’s status.

 To hold meetings, conferences for the purpose of engaging local commercial bank’s support.

 To sign operational agreement with other commercial banks.

3.2.1.8 Extending the export services

 To extend the export credit guarantee services.

 To extend the bid security and export contract fulfilment services.

3.2.1.9 Deploying “two-way export credit” practice

The “two-way export credit” practice was implemented by many countries around the world as a mean for national exporting elevation.

This practice could be considered as a subsidising approach for both exporters and importers. For that reason, a stimulating export could be encouraged. However, such practice could be seen as a difficult task for countries that have weak financing system such as Vietnam.

3.2.2 Suggestions for exporting companies

3.2.2.1 Comprehending of State’s export credit policy

3.2.2.2 Strengthening both the technology innovation and the quality of exporting items

3.2.2.3 Exploring of world markets and modern business approaches

3.2.2.4 Advancing exporting competing capability

3.2.2.5 Strengthening business financial management

3.2.3 Suggestion for in-cooperation

3.2.3.1 Deploying insurance services for export credit activities

3.2.3.2 Establishing export credit of the State Insurance company

RECOMMENADTIONS AND CONCLUSIONS

RECOMMENADTIONS

1. Recommendations for the State

1.1 Expanding the list of products subjected to export credits

It is necessary to expand list of mentioned products. Specifically, the government should focus on high-tech products or multi-staged products and to reduce the export of raw material. This kind of action could help in restructuring export characteristic. In long-term, as the capital need are adequate, the government could remove restricted list of product subjected to export credits paving opportunities for other products in the future.

1.2.Expanding “export credit institution” model in Vietnam

VDB is current the only institution designated by the State to employ export credit

policy in Vietnam. This does not certainly mean for a monopoly position, however, with only one designated institution, such as VDB, it is believed that the efficiency and scale of export credit policy remains at modest level. The actual data has showed for such belief. Thus, author would like to place a suggestion, for the State, on expanding the number of export credit institution in Vietnam as a method to increase export activities.

In order to implement State’s export credit policy, besides VDB, the government could appoint a number of commercial banks, with suitable reputation and experience, for similar duty such as Vietcombank, VietinBank, BIDV, Eximbank, etc.

1.3 Adjusting for the frequency of interest rate announcement and shaping for a common frame of interest rate

Leading cause of slowing growth in export credit activities at VDB includes the impact of interest rate announcement. Therefore, the author believes that VDB should actively implement State’s export credit policy. The Ministry of Finance could regulate the limit for the export credit interest rate, including Floor Interest rate and Cell Interest rate, that VDB could announce and adjust within that limit accordingly with the interest rate movements on the market.

1.4 Allowing VDB with implementation of lending to export chains

The combination among production chains has become more popular in many industries and sectors; it proves to provide businesses with high level of efficiency. Therefore, commercial banks have increased the credit granting to export chains. The research would recommend for an allowance of this type of export chains model.

2. Recommendations for the Ministries, Central and Local authorities

2.1 Recommendations for Ministry of Finance

Perfecting and creating legal framework for VDB’s activities in a professional and efficient manner which lead to a contribution in increasing potentials and enhancing national competitiveness

Reconciling between the State Bank and VDB on Risk Management and Financial Management regulations which best meets VDB’s in the new developing phase.

2.2 Recommendation for Ministry of Planning and Investment

To strike a balance between medium and long-term plans on investment credit capital

and State’s export credit capital. Especially, the Ministry of Planning and Investment would remain the balance of export credit to encourage export activities. By this, VDB could become more active in performing its tasks to develop the export credit.

To coordinate with the Ministry of Finance in arranging financial resources and implementing the VDB's strategic plan, in the direction of enhancing and strengthening VDB’s financial capacity. These two Ministries need to come to a solution in dealing with the subsiding of VDB’s outstanding interest rate gap.

2.3 Recommendations for the State Bank

To provide guidance on the classification of debt which best fit VDB’s nature and operation;

To issue VDB with a license for foreign exchange activities;

To play an initiative role in assigning appropriate tasks to some prestigious commercial banks with strong financial capacity and experience to coordinate with VDB regarding State’s export credit policy. To assist VDB in improving credit performance and credit risk management.

2.4 Recommendation for People's Committee

Central and local authorities hold an important part in cooperating and supporting for VDB’s activities. In order to accelerate the expansion and development of State’s export credit activities, the People's Committees need to direct related agents for the dissemination of information to companies. It could be benefit for these companies with timely-comprehension of policies implemented by the government as well as VDB’s export credit procedures. The People's Committees should take a more active role in resolving interest rate support so that businesses’ confidence would improve. Especially, with legal assistance through provincial departments, committees, provincial people's committees should regularly provide adequate information about the risks that VDB is facing when carrying out their export

CONCLUSIONS

Export credit is important to the economy, especially when Vietnam is accelerating its international integration process. It could be seen that export credit in general and State’s export credit in particular promote the economic growth and national competitiveness on international market. Therefore, it is essential for the Government to adopt supporting policies that could in turn help to achieve mentioned objectives. State-owned export credit activities at VDB have not performed well in terms of quantity and quality. However, these activities have helped in promoting the economy effectiveness. Further expansion and development of State’s export credit is necessary requirement for the current stage of development. The thesis presented theoretical, practical and solution issues on this subject matter.

There are three conclusions that could be drawn from this research:

1. Through the study on the theory of State’s export credit, the thesis has clarified the theoretical basis, thereby to affirm scientific ground for the development of State’s export credit in Vietnam.

2. From the practical result, the research has summarised and analysed the development and limitations of State's export credit activities at the VDB. The result is rather acceptable.

3. The research suggests that in order to develop the State's export credit both in quantity and quality the implementation of mentioned scientific and practical solutions is needed. In addition, it is necessary to study the proposed recommendations, for the government and central ministries, as suggestions may help to create a complete legal framework for the subject matter. Also, this framework, in turn, would support VDB in accomplishing its designated mission in the period./.

DANH MỤC CÁC CÔNG TRÌNH KHOA HỌC ĐÃ CÔNG BỐ

1. Bài báo “Tín dụng và vai trò của tín dụng Nhà nước Việt Nam – Lý luận và thực tiễn”.Tạp chí Kinh tế - Kỹ thuật. Số 11, tháng 9/2015.

2. Bài báo “Mở rộng hoạt động TDXK của Nhà nước để thúc đẩy kinh tế Việt Nam phát triển trong giai đoạn hiện nay”. Tạp chí Kinh tế - Công nghiệp. Số 07, tháng 11/2015.

3. Bài báo: “ Đẩy mạnh xuất khẩu hàng hóa của Việt Nam bằng công cụ Bảo hiểm tín

dụng xuất khẩu” Tạp chí Ngân hàng . Số 10 tháng 5/ 2016

4. Sách chuyên môn Nghiệp vụ Ngân hàng thương mại. NXB Đại học Quốc gia TP HCM năm 2013 (đồng tác giả)

5. Sách chuyên môn Thẩm định tín dụng. NXB Kinh tế TP.HCM, năm 2014. (đồng tác

giả)

6. Sách chuyên môn Quản trị kinh doanh Ngân hàng, NXB Kinh tế TP. HCM, năm 2016 (đồng tác giả)

7. Đề tài NCKH cấp Trường “Phát triển kinh doanh ngoại tệ của các ngân hàng thương

mại cổ phần Việt Nam” năm 2014, Trường Đại học Ngân hàng TP.Hồ Chí Minh.

8. Đề tài NCKH cấp Trường “Các yếu tố ảnh hưởng đến rủi ro tín dụng – Bằng chứng thực nghiệm tại các NHTM Việt Nam”, năm 2015, Trường Đại học Kinh tế TP. Hồ Chí Minh