If banks fail to innovate, the economy will slow down
Speaking at the 30th Anniversary of Building and Development of VietinBank on November 11, Prime Minister Nguyen Xuan Phuc said: "Born in the Vietnamese Business Context The Vietnam-based Industrial and Commercial Bank, now VietinBank, has witnessed almost complete economic reform of the country.
"It can be said that the achievements of Vietnam over 30 years of renewal have a great presence and character of the banking industry in general, especially VietinBank, and VietinBank by itself is a mission from It's to promote the transformation and development of the Vietnamese industry and trade," the prime minister said.
On November 11, Prime Minister Nguyen Xuan Phuc held a speech at the 30th anniversary of the Ceremony of Vietinbanka (1988 – 2018). .
Expressing the achievements of VietinBank, the prime minister said: "I do not know in this hall today how many business banks are present but the achievements of VietinBank that contribute to business banks. Moreover, you have created a healthy competition for banks, including VietinBank."
The premier emphasized the achievements over the past 30 years not only to be proud but also to act and motivate us to be more determined in the coming time with many difficulties and challenges. poorly.
"As I said before the congress, a 30-year journey will not be easy, even harder and more complicated than the past 30 years. In order to reduce the economy by more than 17 times over the next 30 years (which has been achieved over the past 30 years) which is over $ 2.5 trillion, with a per capita income of over $ 18,000 by 2045, we celebrate the 100th anniversary of the National Day, which is very challenging but also a great honor for generations according to our conditions. "
With VietinBank, the prime minister believes that "we have a striving for big things, we will definitely and persistently pursue all the immediate and long-term strategic goals in order to achieve the aspirations.
According to prime ministers, in the cellars of the economy, banks are considered to be the cells that contain the most dynamic and creative genes. This is also one of the most exciting places in many innovative and creative business activities.
The prime minister asked whether VietinBank had a "burning desire to be one of the pioneers of the Vietnamese banking industry in the revolution of 4.0". This revolution will change. The basic aspect of banking and financial operations is the application of new technologies that promise a fundamental change in the operating model, management and banking services. "
According to prime minister, if we postpone, we will remain in the race of banks in the region and the world. Especially in the context of the growing number of digital economies in the region and globally, if the Vietnamese banks are not rotated, transformed and missed in the process of reconstruction, the entire Vietnamese economy will also be slow on the development path.
It is necessary to redefine vision and goals
With the long-term goal, VietinBank is to become the largest financial corporation with the best performance of the banking system in 2020, the prime minister said in 2020 is not far away. , "I think it's time to redefine our vision and goals by 2045."
The prime minister was extremely appreciative of the bank's aspiration, one of the top ten business banks in ASEAN, one of the two largest commercial banks in Vietnam, among the top 100 largest banks in Asia, and was one of the first Vietnamese commercial banks to list shares on foreign exchanges. However, the prime minister said that the vision of the Vietrenacka Bank in 2045 should be greater, greater aspiration.
On behalf of the Party and State Leader, the Prime Minister awarded the Prime Worker's Emblem and Government Flag Flag to the Viet Nam Bank. Photo of VGP / Quang Hieu
To achieve this new vision, now VietinBank must continue to improve and upgrade itself; Continuing strengthening and improving financial capability, banks' ability to comply with international standards. VietinBank must actively participate in the counseling, supporting the restructuring of credit institutions, solving bad debts, sound balance and the financial system of the whole system.
At the same time, banks need to increase their investment in R & D. With technology, the human factor is still decisive. VietinBank has to invest and process qualified human resources with high technical and professional qualifications with a special emphasis on the moral aspect, always encouraging the aspirations of employees, You see that this is a cultural identity and competitive advantage of the bank …
In addition, as a state-owned bank, the bank should primarily determine its ability to balance capital for important sectors of the economy such as agriculture, exports, supporting industries, start-up support, the development of small and medium-sized enterprises, creation of more favorable conditions for capital companies and the development of their business.