MICROCAPITAL.ORG STORY: Vietnamese Government Sets Up Working Committee On Microfinance

It was recently reported on the Vietnamese Business News online portal [1]  that the Vietnamese Government has decided to set up a Working Committee on Micro-Finance. The Working Committee will be chaired by the Governor of the State Bank of Vietnam (SBV) [2], Mr Nguyen Van Giau. The Working Committee is responsible for studying and making recommendations to the Vietnamese Prime Minister on the directives and measures necessary to develop microfinance operations in the country. It will also assist the Prime Minister in guiding and coordinating the relevant ministries, ministerial agencies and government agencies.

The Working Committee is allowed to request ministries and People’s Committees at all levels to provide information on microfinance within their respective jurisdictions. It will also share information with State authorities, associations, institutions and individuals on microfinance. The Working Committee is currently working on a part-time basis. In addition to officials from the SBV, the report notes that members of key government or government-linked institutions such as the Office of the Government, the Ministry of Finance, the Ministry of Justice, the Ministry of Planning and Investment, the Ministry of Agriculture and Rural Development, the Ministry of Labour, Invalids and Social Affairs, the Ministry of Home Affairs [3], the Central Committee of the Vietnam Women’s Union [4], the Central Committee of the Vietnam Farmers’ Union [5], the Central People’s Credit Fund [6], the Vietnam Bank for Social Policies [7] and the Vietnam Bank for Agriculture and Rural Development [8], currently sit on the Working Committee.

Microfinance in Vietnam has been a predominantly state-led initiative, to date. More information on the Vietnamese microfinance sector can be found on the country’s profile page on the Banking With The Poor Network (BWTP) [10] website. The BWTP is a trade association and network in Asia that focuses on improving financial services for the poor in the region through co-operation, training and capacity building. Previous press releases and Microcapital.Org publications on microfinance in Vietnam have been set out in the Bibliography section below [10] – [15].

By Chinq Yee Chong, Research Assistant

Bibliography

[1] Report on the Vietnamese Business News online portal entitled ‘Government Sets Up Working Committee On Microfinance’: http://www.vnbusinessnews.com/2009/09/government-sets-up-working-committee-on.html

[2] State Bank of Vietnam: www.sbv.gov.vn/en/

[3] Link to Office of the Government and Ministries in Vietnam: http://asemconnectvietnam.gov.vn/Ministries/MinistryDetail.aspx?id=42

[4] Vietnam Women’s Union: http://www.hoilhpn.org.vn/newsdetail.asp?CatId=49&NewsId=7222&lang=EN

[5] Vietnam Farmer’s Union: www.agro-info.net/?website_id=7239

[6] Central People’s Credit Fund: www.bwtp.org/arcm/vietnam/II_Organisations/…/PCF.htm

[7] Vietnam Bank for Social Policies: www.vbsp.org.vn/en/

[8] Vietnam Bank for Agriculture and Rural Development: www.bwtp.org/arcm/vietnam/II…/MF…/VBARD.htm

[9] http://www.bwtp.org/arcm/vietnam/Vietnam.html

[10] MICROCAPITAL STORY: State Bank of Vietnam (SBV) to Give Legal Status to Semi-Official Microfinance Institutions (MFIs); Calls for the Establishment of the Vietnam Microfinance Association

[11] NEWS WIRE: Vietnam: State Dominates Microfinance Market

[12] PRESS RELEASE: Vietnam: Poverty Scorecard Used by Microfinance Field Workers to More Efficiently Rate Household Poverty Levels

[13] NEWS WIRE: Vietnam: Microfinance network proves effective after two-year implementation

[14] MICROCAPITAL STORY: Vietnamese Microfinance Sector Crippled by Government Lending Programs

[15] Vietnamese Social Policy Bank Begins Microfinance Operations, Lending USD 125 mn to Microbusinesses in 2006

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