THE STATE BANK
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No: 03/2003/CT-NHNN
Hanoi, May 21, 2003
 DIRECTIVE
ON BANK CREDIT IN SERVICE OF RAISING ENTERPRISES’ EFFICIENCY AND COMPETITIVENESS
On April 4, 2003, the Prime Minister issued Directive No. 08/2003/CT-TTg on raising the efficiency and competitiveness of enterprises. In furtherance of Point 5 of this Directive, the State Bank Governor hereby requests the commercial banks to perform the following tasks:
1. To synchronously apply capital mobilization solutions: To step up the mobilization of domestic medium- and long-term capital; to exploit and efficiently use long-term capital sources, which are provided by international financial organizations as financial assistance to projects on small- and medium-sized enterprises, rural financial projects, rural-enterprise financial projects and loans for State enterprise reform and company administration program, for investment in enterprises’ projects on producing high-quality commodity products with competitive edges on domestic and international markets. At the same time, the commercial banks shall take measures to effectively recover debts, especially overdue debts and outstanding debts, in order to increase lending capital sources.
2. To create favorable conditions for enterprises of all economic sectors to conveniently get access to bank credit capital for investment in production, technological renewal and human resource development along the direction of improving the lending process with simpler lending procedures and dossiers, with shorter duration for settling loan provision while ensuring the strict observance of law provisions; to publicly post up and directly approach enterprises in order to guide the lending conditions, process and procedures as well as the maximum duration for settling loans, evaluate and decide on loans in time so as to meet the enterprises’ capital-borrowing demands which satisfy the lending conditions. In cases where they cannot provide loans, the commercial banks must clearly notify in writing the enterprises thereof.