SBV 2009

NGN HNG NH NC VIT NAM
BO CO THNG NIN 2009
BO CO THNG NIN
NGN HNG NH NC VIETNAM
MC LC
LI TA CA THNG C CC V, CC, N V S NGHIP CA NGN HNG NH NC VIT NAM KHI QUT KINH T TH GII KINH T VIT NAM CN CN THANH TON QUC T V TNH HNH XUT NHP KHU DIN BIN TIN T IU HNH CC CNG C CHNH SCH TIN T CHNG TRNH H TR LI SUT QUN L NGOI HI HOT NG THANH TRA, GIM ST NGN HNG CNG NGH NGN HNG V HOT NG THANH TON THNG TIN TN DNG KIM TON NI B CNG TC PHP CH HOT NG I NGOI T CHC CN B PH LC 7 8 10 11 14 17 22 25 28 29 31 32 34 35 37 39 41
BO CO THNG NIN
TR S CHNH V CC CHI NHNH TNH, THNH PH
BO CO THNG NIN
BAN LNH O NGN HNG NH NC VIT NAM
ng Nguyn Vn Giu Thng c
ng Nguyn ng Tin Ph Thng c
ng Trn Minh Tun Ph Thng c thng trc
ng ng Thanh Bnh Ph Thng c
ng Nguyn Ton Thng Ph Thng c BO CO THNG NIN
ng Nguyn Vn Bnh Ph Thng c NGN HNG NH NC VIETNAM
BO CO THNG NIN
LI TA CA THNG C
m 2009, khng hong ti chnh v suy thoi kinh t ton cu tc ng n hu ht cc nc. Nn kinh t Vit Nam hi nhp su rng vo nn kinh t th gii, b nh hng tiu cc ca khng hong v suy thoi ton cu, nht l xut khu, u t, du lch. Mt khc thin tai v dch bnh lin tip xy ra lm trm trng thm nhng kh khn ca nn kinh t. Trong bi cnh , Chnh ph thc hin cc gii php cp bch ngn chn suy gim kinh t, duy tr tng trng, bo m an sinh x hi, kt qu l ngn chn c suy gim kinh t, t tc tng trng 5,32%, gi c n nh kinh t v m, kim ch lm pht v to mi trng thun li cho pht trin kinh t - x hi.
m st mc tiu v gii php ca Chnh ph, trong nm 2009, Ngn hng Nh nc iu hnh chnh sch tin t ch ng, linh hot v ni lng thn trng thng qua cc gii php gim li sut, gim t l d tr bt buc v gim gi ng Vit Nam mc hp l, t chc thc hin c ch h tr li sut i vi doanh nghip vay vn, h tr tn dng i vi khu vc nng nghip v nng thn, doanh nghip nh v va, tng cng thanh tra, gim st an ton h thng ngn hng, pht trin dch v tin ch ngn hng, tng cng hp tc quc t, nng cao cht lng cng tc truyn thng v chnh sch tin t v hot ng ngn hng. Vic iu hnh chnh sch tin t v hot ng ngn hng gp phn quan trng v tch cc i vi kt qu t c ca nn kinh t, lu thng tin t v hot ng ca cc t chc tn dng c m bo an ton v hiu qu; Ngn hng Nh nc rt ra c nhiu vn c ngha l lun v thc tin p dng cho vic iu hnh chnh sch tin t v pht trin h thng cc t chc tn dng trong thi gian ti./.
Thng c Ngn hng Nh nc Vi Nam Vit
NGUYN VN GIU
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CC V, CC, N V S NGHIP CA NGN HNG NH NC VIT NAM
Tn V, Cc V Chnh sch tin t V Qun l ngoi hi V Thanh ton V Tn dng V D bo, thng k tin t V Hp tc quc t
Chc nng, nhim v Tham mu, gip Thng c xy dng chnh sch tin t quc gia v s dng cc cng c chnh sch tin t theo quy nh ca php lut. Tham mu, gip Thng c thc hin chc nng qun l nh nc v ngoi hi v hot ng ngoi hi theo quy nh ca php lut. Tham mu, gip Thng c thc hin qun l nh nc v lnh vc thanh ton trong nn kinh t quc dn theo quy nh ca php lut. Tham mu, gip Thng c thc hin qun l nh nc v lnh vc tn dng ngn hng v iu hnh th trng tin t theo quy nh ca php lut. Tham mu, gip Thng c thc hin cng tc d bo, thng k tin t theo quy nh ca php lut. Tham mu, gip Thng c thc hin chc nng qun l nh nc v hp tc v hi nhp quc t thuc phm vi qun l ca Ngn hng Nh nc theo quy nh ca php lut. Tham mu, gip Thng c thc hin kim ton ni b hot ng ca cc n v thuc Ngn hng Nh nc. Tham mu, gip Thng c thc hin qun l nh nc bng php lut v tng cng php ch x hi ch ngha trong ngnh Ngn hng. Tham mu, gip Thng c thc hin cng tc ti chnh, k ton, u t xy dng c bn ca Ngn hng Nh nc v qun l nh nc v k ton, u t xy dng c bn ca ngnh Ngn hng theo quy nh ca php lut. Tham mu cho Thng c, Ban cn s ng Ngn hng Nh nc thc hin cng tc t chc, bin ch; qun l, s dng cn b, cng chc, vin chc; ch tin lng v cc ch khc thuc phm vi qun l ca Ngn hng Nh nc theo quy nh ca php lut. Tham mu, gip Thng c qun l nh nc v cng tc thi ua, khen thng trong ngnh Ngn hng theo quy nh ca php lut. Thc hin chc nng thanh tra hnh chnh, thanh tra chuyn ngnh v gim st chuyn ngnh v ngn hng trong cc lnh vc thuc phm vi qun l nh nc ca Ngn hng Nh nc; tham mu, gip Thng c qun l nh nc i vi cc t chc tn dng, t chc ti chnh quy m nh, hot ng ngn hng ca cc t chc khc; thc hin phng, chng ra tin theo quy nh ca php lut.
V Kim ton ni b V Php ch V Ti chnh K ton
V T chc cn b
V Thi ua Khen thng
C quan Thanh tra, gim st ngn hng
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Vn phng
Tham mu, gip Thng c ch o v iu hnh hot ng ngn hng; thc hin cng tc ci cch hnh chnh ca Ngn hng Nh nc; qun l hot ng thng tin, tuyn truyn, bo ch, vn th, lu tr ca ngnh ngn hng theo quy nh ca php lut; thc hin cng tc hnh chnh, l tn, vn th, lu tr ti Tr s chnh Ngn hng Nh nc. Tham mu, gip Thng c thc hin qun l nh nc chuyn ngnh v lnh vc cng ngh tin hc trong phm vi ton ngnh Ngn hng. Tham mu, gip Thng c thc hin chc nng qun l nh nc v chc nng Ngn hng Trung ng v lnh vc pht hnh v kho qu theo quy nh ca php lut. Tham mu, gip Thng c qun l ti sn, ti chnh, c s vt cht k thut, hu cn, bo v an ninh, trt t an ton c quan, chm lo i sng, sc khe cho cn b, cng chc, vin chc v ngi lao ng thuc Tr s chnh Ngn hng Nh nc. Tham mu, gip Thng c thc hin cc nghip v Ngn hng Trung ng. Qun l v thc hin cc d n tn dng quc t do cc t chc ti chnh tin t quc t, nc ngoi ti tr. Tham mu, gip Thng c qun l Nh nc v tin t v hot ng ngn hng trn a bn v thc hin mt s nghip v Ngn hng Trung ng theo y quyn ca Thng c. Thc hin nhim v i din theo s y quyn ca Thng c.
Cc Cng ngh tin hc Cc pht hnh v kho qu
Cc Qun tr S Giao dch Ban qun l cc d n tn dng quc t Cc chi nhnh ti tnh, thnh ph trc thuc trung ng Vn phng i din ti thnh ph H Ch Minh
Cc n v s nghip
Vin Chin lc ngn hng Trung tm Thng tin tn dng Thi bo Ngn hng Nghin cu v xy dng chin lc, quy hoch, k hoch pht trin ngnh Ngn hng; t chc nghin cu khoa hc v pht trin cng ngh ngn hng phc v cho yu cu qun l nh nc ca Ngn hng Nh nc v tin t v hot ng ngn hng theo quy nh ca php lut. Thu nhn, x l, lu tr, phn tch, d bo thng tin tn dng phc v cho yu cu qun l nh nc ca Ngn hng Nh nc; thc hin cc dch v thng tin ngn hng theo quy nh ca Ngn hng Nh nc v ca php lut. L c quan ngn lun, din n x hi v l cng c tuyn truyn, ph bin ng li, ch trng ca ng, chnh sch, php lut ca Nh nc v hot ng ca ngnh ngn hng theo quy nh ca Ngn hng Nh nc v ca php lut. L c quan ngn lun, din n v l lun nghip v, khoa hc v cng ngh ngn hng; c chc nng tuyn truyn, ph bin ng li, ch trng ca ng, chnh sch v php lut ca Nh nc, hot ng ngn hng v nhng thnh tu v khoa hc, cng ngh ca ngnh Ngn hng v lnh vc lin quan theo quy nh ca Ngn hng Nh nc v ca php lut.
Tp ch Ngn hng
C chc nng o to, bi dng, cp nht kin thc, k nng qun l nh nc v chuyn mn nghip v thuc lnh vc ngn hng phc v yu cu pht trin Trng Bi dng cn v nng cao cht lng i ng cn b, cng chc, vin chc ca Ngn hng Nh b ngn hng nc v ca ngnh Ngn hng theo quy hoch, k hoch c Thng c ph duyt.
BO CO THNG NIN
KHI QUT KINH T TH GII

inh t th gii nm 2009 tip tc kh khn, c bit l trong nhng thng u nm v l thi k suy thoi kinh t su nht k t i suy thoi 1929-1933. Theo bo co ca IMF, tng trng kinh t th gii nm 2009 gim 0,8% (nm 2008 tng 3%). Nh c cc bin php cu tr kinh t c thc hin t cui nm 2008, t qu II/2009 kinh t th gii dn phc hi nhng cha chc chn, tim n nhiu ri ro, tht nghip v thm ht ngn sch ti nhiu nc tng ln mc cao so vi nhiu nm trc.
trng gia tng do cc nc y mnh cc gi gii php kch thch tng trng kinh t lm gi mt s mt hng thit yu nh du th, thp, xi mng c xu hng tng mnh so vi u nm.
Chnh sch tin t

a s NHTW cc nc thc hin CSTT ni lng bng vic ct gim li sut ch o v ni lng nh lng thng qua vic tng cng bm tin vo h thng ngn hng v nn kinh t. Li sut ca FED, NHTW Chu u, Anh v Canada c gim xung mc thp nht trong lch s (gn 0%). Nhiu nc nh M, Chu u, Anh, Nht Bn... lin tip bm tin vo h thng ngn hng thng qua vic mua vo cc thng phiu, tri phiu doanh nghip, tri phiu chnh ph. Tuy nhin, mc bm tin qua knh ny gim dn t thng 8 khi c du hiu phc hi ca nn kinh t v h thng ti chnh ngn hng. T thng 10, trong bi cnh kinh t tng trng, mt s t NHTW tht cht tin t tr li nh c v Nauy tng li sut ch o, Trung Quc tng t l d tr bt buc.
Tng trng kinh t*

Kinh t M gim 2,4%, kinh t khu vc ng Euro gim 4,1%, kinh t Nht Bn gim 5,2%. Kinh t cc nc ang pht trin Chu cng chu nh hng ca khng hong ti chnh v suy thoi kinh t th gii do lung chu chuyn vn quc t v thng mi ton cu gim mnh. Kinh t Trung Quc sau khi tng mc thp k lc 6,5% trong qu I/2009, t qu II/2009 kinh t Trung Quc phc hi v tr thnh nc c din bin kinh t kh quan nht th gii: qu II/2009: tng 8,1%; qu III/2009: tng 9,6%; qu IV/2009: tng 11,3%.
Lm pht
Lm pht ti nhiu quc gia gim mnh trong bi cnh suy thoi. Ti M, lm pht bnh qun l -0,4%, khu vc Euro 0,3%, Nht Bn -1,1%, Trung Quc -0,1%. Gi c nhiu mt hng trn th trng th gii gim, c bit l gi du m v lng thc do s suy gim ca tng trng kinh t ton cu khin cu th gii gim mnh. Tuy nhin, lm pht bnh qun so vi cng k ca M v khu vc ng Euro trong qu IV/2009 t mc dng tr li, trc cc du hiu phc hi ca kinh t th gii, k vng ca th BO CO THNG NIN
* Ngun s liu v tng trng kinh t v lm pht: Thomson Reuters
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KINH T VIT NAM

c d tip tc i mt vi nhng kh khn v thch thc ca cuc khng hong ti chnh v suy thoi kinh t th gii, Vit Nam vn l mt trong s t quc gia t c mc tng trng kinh t dng trong nm 2009. Tuy nhin, do nh hng ca suy thoi kinh t th gii tc ng tiu cc n cn cn thng mi v cn cn thanh ton quc t, ng thi thin tai, dch bnh trong nc lin tip xy ra lm suy gim tng trng ca nn kinh t.
nng-lm-thu sn l thp nht, ch tng 1,83%; cng nghip-xy dng tng 5,52%; dch v tng 6,63%. Xt v mc ng gp vo GDP, ngnh dch v tip tc l ngnh ng gp nhiu nht vo tc tng trng chung. Ngnh nng-lm-ng nghip tng 1,83%, l mc thp nht trong vng 20 nm qua, trong ngnh nng nghip ch tng 1,32%, lm nghip tng 3,47%. Ngnh thu sn tng 4,28%. Ngnh cng nghip-xy dng tng 5,52%, trong lnh vc cng nghip ch tng khong 3,98%, bng 1/2 tc tng ca nm 2008 do cu trong nc v nc ngoi gim mnh, nhiu doanh nghip phi tm ngng sn xut hoc sn xut cm chng trong nhng thng u nm. Tuy nhin, ngnh xy dng tng mnh t 11,36% nh s phc hi ca th trng bt ng sn, gi nguyn vt liu xy dng nh xi mng, st thp... gim mnh v mc thp so vi nm 2008 ng thi c thm nhiu ngun vn b sung thc hin cc d n u t t gii php kch cu ca Chnh ph.
Tng trng kinh t

Tng trng tng sn phm trong nc nm 2009 t 5,32%, thp hn mc tng 6,18% trong nm 2008 v l mc thp nht trong 10 nm qua. Tuy nhin, tc tng trng kinh t c xu hng ci thin dn qua cc qu nh cu u t v tiu dng trong nc dn phc hi bi tc ng ca cc bin php kch thch kinh t ca Chnh ph: Qu I/2009 tng 3,14%; qu II/2009 tng 4,41%; qu III/2009 tng 5,98%; qu IV/2009 tng 6,99%. Tc tng ca cc ngnh nng-lmng nghip, cng nghip-xy dng v dch v u chm li trong tc tng ngnh
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Ngnh dch v tng 6,63%, l ngnh c tc tng trng cao nht so vi cc ngnh trn do chu nh hng ca suy thoi kinh t th gii mc thp.
u t
Vn u t ton x hi nm 2009 t khong 704,2 nghn t ng, bng 42,8% GDP, trong : vn u t thuc khu vc Nh nc tng 40,5% do Chnh ph thc hin cc bin php kch cu u t mnh ngn chn suy gim kinh t; vn u t thc hin ca khu vc ngoi Nh nc tng 13,9%; vn u t khu vc c vn u t nc ngoi gim 5,8%. V tn dng u t pht trin ca nh nc: gii ngn vn trong nc cho vay u t c t 20,3 nghn t ng, bng 70,3% k hoch nm; gii ngn vn ODA cho vay li t 3,35 nghn t ng, bng 35,3% k hoch nm; d n bnh qun tn dng xut khu t 13,8 nghn t ng, bng 138% k hoch nm.
vic lm mi nm 2009 t khong 1,51 triu ngi, bng 89% k hoch nm 2009 v gim 6,5% so vi nm 2008. T l tht nghip thnh th nm 2009 tng nh ln 4,66% t mc 4,65% ca nm 2008. S lng lao ng i xut khu t khong 73.000 lao ng, gim 16% so vi nm 2008. Thu nhp tnh chung c nm tng do Nh nc iu chnh lng ti thiu t 1/5/2009 tng 20%. Theo kho st ca B Lao ng Thng binh v X hi, nm 2009, tin lng bnh qun ca ngi lao ng trong cc doanh nghip c t 2,75 triu ng/ thng, tng 6,5% so vi nm 2008.
Thu chi Ngn sch Nh nc

Bi chi NSNN nm 2009 l 6,9%GDP, cao hn so vi mc bi chi 4,48%GDP ca nm 2008 ch yu do tc ng ca suy thoi kinh t th gii v Chnh ph thc hin cc bin php kch thch nn kinh t. Thu NSNN gim 6,3% so vi nm 2008 ch yu do: (i) xut khu st gim hu ht cc mt hng, c bit l du th gim c v lng v gi; (ii) tc ng ca suy gim kinh t khin cho sc tiu th hng ho gp
Lao ng, thu nhp

Th trng lao ng: Nhu cu st gim c trong nc v xut khu lao ng. S
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nhiu kh khn; (iii) Chnh ph thc hin cc chnh sch min, gim v gin thu. Chi NSNN tng 8,76% so vi nm 2008 l do: (i) Chnh ph y mnh chi u t pht trin v an sinh x hi nhm thc hin chng trnh kch cu u t v tiu dng (ii) iu chnh tng lng ti thiu i vi khu vc hnh chnh s nghip tc ng lm tng chi thng xuyn.
Din bin lm pht

Ch s gi tiu dng thng 12/2009 so vi cng k ch tng 6,52%; ch s gi tiu dng bnh qun nm 2009 so vi nm 2008 tng 6,88%; thp hn nhiu so vi mc tng tng ng ca nm 2008 l 19,89% v 22,97%. Lm pht gim trong 3 thng u nm do cc nhn t bn cu (u t v tiu dng tng mc thp), nhn t chi ph gim do tc ng ca suy thoi kinh t th gii v lm pht k vng gim. T thng 4/2009 lm pht c xu hng tng do tc ng tng hp ca cc yu t: (i) Cu ko: u t, tiu dng tng do tc ng ca cc gii php kch cu ca Chnh ph, iu chnh tng lng ti thiu t thng 5/2009 i vi khu vc hng lng v tr cp t ngn sch; th trng ti sn phc hi v k vng lm pht c xu hng gia tng; (ii) Chi ph y: gi mt s mt hng nh nc qun l (in, than, gi nc sch) tng ph hp vi din bin gi th trng, gi cc mt hng c bn th gii c xu hng tng tc ng lm tng gi thnh v mt bng gi trong nc (gi xng trong nc iu chnh tng 9 ln vi tng mc tng 45%).
so vi u nm v bt u phc hi t qu II. Mc vn huy ng th trng nm 2009 t 21.000 t ng; vn ho th trng chim 38%GDP. Kt thc nm 2009, ch s VNIndex t 494,77 im, tng 56,8% so vi cui nm 2008, tng 110% so vi im y ngy 24/2/2009 v t mc cao nht 624,1 im ngy 22/10. Gi tr giao dch trung bnh t 2.800 t ng/phin, cao gp i mc 1.400 t ng/phin ca nm 2008. Gi vng trong nc tng 60% so vi cui nm 2008. Din bin gi vng trong nc bm st theo gi vng th gii v t nh im vo thng 11/2009 mc 29,40 triu ng/lng do cng hng ca yu t gi vng th gii, t gi VND/USD tng v yu t u c. Ti nhiu thi im, gi vng trong nc cao hn so vi gi vng th gii t 2-3 triu ng/lng. T u thng 12 gi vng st gim nhanh chng ch yu do gi vng th gii gim. Th trng bt ng sn ci thin so vi nm 2008 c bit phn khc nh x hi di tc ng ca gi kch cu ca Chnh ph. Gi t tng cc b ti mt s thi im trong thng 5 v thng 6 v t nh im tng 40% vo thng 10/2009 do u c gia tng khi c s thay i quy hoch h tng v k vng v gi khi thu nhp ca dn c tng. ng thi, din bin kinh t v m ci thin gp phn h tr th trng nh t.
Din bin cc th trng chng khon, vng, bt ng sn

Th trng chng khon trong nc din bin cng chiu vi din bin ca th trng chng khon th gii v din bin kinh t trong nc. Qu I gim mnh (khong 25%) BO CO THNG NIN NGN HNG NH NC VIETNAM
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CN CN THANH TON QUC T V TNH HNH XUT NHP KHU

n cn thanh ton tng th nm 2009 thm ht 8,17 t USD do nhng tc ng bt li ca cuc khng hong ti chnh v suy thoi kinh t ton cu, ngun thu t giao dch vng lai v giao dch vn u gim, c bit l xut khu hng ha, FDI, kiu hi.
Cn cn vng lai
Cn cn vng lai thm ht 7,44 t USD tng ng 7,7% GDP, c thu hp ng k so vi nm 2008. Cn cn thng mi thm ht 8,3 t USD, gim 35% so vi nm 2008. Trong xut khu hng ha theo gi FOB gim 8,9%, nhp khu hng ha theo gi FOB gim 13,3% so vi nm 2008. Tuy nhin, thm ht cn cn thng mi vn l mt trong nhng nguyn nhn chnh dn n thm ht cn cn vng lai. Cn cn dch v thm ht 1,13 t USD, cao hn 23,4% so vi nm 2008 do thu dch v gim mnh hn chi dch v. Thu dch v gim 18,1% so vi nm 2008, trong thu t dch v du lch (chim khong 50% tng thu dch v) gim mnh. Cc ngnh dch v
khc nh vn ti, hng khng, bo him u gim. Chi dch v gim 13,3% so vi nm 2008, trong chi ph vn ti v bo him, hin chim t trng ln trong tng chi dch v, cng gim 13,3% so vi nm 2008 do nhp khu st gim. Chi nhp khu ca cc ngnh dch v khc nh ti chnh, vn ti, bo him u gim so vi nm 2008. Chuyn tin mt chiu thng d 6,53 t USD, gim 10,7% so vi nm 2008. Trong chuyn tin mt chiu ca khu vc t nhn gim 11,6%, chuyn tin mt chiu ca khu vc Chnh ph mc tng ng so vi nm 2008. Thu nhp u t thm ht 4,53 t USD, gim 3% so vi nm 2008. Thu nhp gm thu t li tin gi ca h thng ngn hng v thu t li nhun u t ca cc doanh nghip Vit Nam ti nc ngoi c gim 44,6% so vi nm 2008. Chi ca hng mc thu nhp u t gim 8,2% so vi nm 2008 do li nhun nh u t nc ngoi c hng trong lnh vc du kh gim cng vi xu hng gim gi du th trn th trng th gii.
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Cn cn vn v ti chnh
Cn cn vn v ti chnh thng d 11,45 t USD, gim 7,2% so vi nm 2008. Trong : Vn u t trc tip nc ngoi (FDI) rng vo Vit Nam t 6,9 t USD, gim 25,6% so vi nm 2008. Lung vn vo di hnh thc vay n nc ngoi tng nhng c cu vay n c s thay i theo hng gia tng vay n trung, di hn, gim vay n ngn hn. Thng d vn vay trung v di hn t 4,47 t USD, gp 4,5 ln nm 2008, trong khi thng d vn vay n ngn hn t 256 triu USD ch bng 13% nm 2008. Vn u t gin tip nc ngoi (FII) rng chuyn sang thng d 128 triu USD sau khi thm ht 578 triu USD trong nm 2008. n cui nm 2009, theo c tnh ca y ban Chng khon Nh nc Vit Nam, tng gi tr danh mc u t ca nh u t nc ngoi trn th trng chng khon Vit Nam khong 6,7 t USD, chim khong 20% so vi gi tr vn ha ca th trng chng khon Vit Nam. Tin v tin gi ca h thng ngn hng ti nc ngoi chuyn sang thm ht 305 triu USD so vi mc thng d 677 triu USD ca nm 2008.
Tnh hnh xut, nhp khu

Nm 2009, do gi hng ha trn th trng th gii st gim lm gim st kim ngch xut, nhp khu hng ha ca Vit Nam. Tng kim ngch xut, nhp khu hng ha nm 2009 t 127 t USD, gim 11,4% so vi nm 2008, trong kim ngch xut khu hng ha t 57 t USD, gim 8,9%; kim ngch nhp khu hng ha (theo gi CIF) l 69,95 t USD, gim 13,3% so vi nm 2008 (tnh theo gi FOB, kim ngch nhp khu hng ha l 65,4 t USD). Thm ht cn cn thng mi1 c thu hp so vi nm 2008, xung cn 8,3 t USD. Nhp siu2 mc 12,85 t USD, tng ng 22,51% kim ngch xut khu hng ha, gim so vi mc 28,76% ca nm 2008. V c cu mt hng xut khu: c 13 mt hng t kim ngch xut khu trn 1 t USD gm thu sn, c ph, go, than , du th, xng du cc loi, cao su, g v sn phm g, dt may, giy dp cc loi, qu kim loi qu v sn phm, my vi tnh sn phm in t v linh kin, my mc thit b, dng c ph tng khc. Kim ngch xut khu dt may vt qua du th v dn u vi tr gi 9,1 t USD. So vi nm 2008, cc mt hng xut khu ch lc ca Vit Nam vn t mc tng trng kh cao v lng,
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nht l mt hng nng sn. Lng go xut khu nm 2009 t 5,96 triu tn, tng 25,4% so vi nm 2008 v l mc cao nht t trc ti nay. V c cu mt hng nhp khu: c 17 mt hng nhp khu t kim ngch nhp khu trn 1 t USD gm thc n gia sc v nguyn liu, xng du, ho cht, sn phm ha cht, dc phm, phn bn, cht do nguyn liu, sn phm t cht do, vi cc loi, nguyn ph liu dt may da giy, st thp cc loi, sn phm t st thp, kim loi thng khc, my vi tnh sn phm in t v linh kin, my mc thit b dng c ph tng khc, t nguyn chic cc loi, linh kin ph tng t. V i tc xut nhp khu: kim ngch thng mi ca Vit Nam vi cc th trng xut nhp khu truyn thng u gim st. So vi nm 2008, kim ngch xut khu ca Vit Nam sang th trng M gim 4,3%, cc nc ASEAN gim 14,1%, khi EU gim 13,6%, Nht Bn gim 26,3%.
Trung Quc tip tc l i tc thng mi ln nht ca Vit Nam vi tng kim ngch hng ho xut nhp khu gia 2 nc t 21,35 t USD, chim 16,8% trong tng kim ngch xut nhp khu ca Vit Nam. Nhp siu ca Vit Nam vi Trung Quc mc 11,53 t USD, chim 89,7% mc nhp siu ca Vit Nam. Xt v th trng xut khu, M tip tc l th trng xut khu ln nht ca Vit Nam. Kim ngch xut khu hng ho sang th trng M trong nm 2009 t 11,36 t USD gim 4,3% so vi cng k nm 2008.
1 Cn cn thng mi l s chnh lch gia kim ngch xut khu hng ha v kim ngch nhp khu hng ha theo gi FOB. 2 Nhp siu l chnh lch gia kim ngch xut khu hng ha theo gi FOB v kim ngch nhp khu hng ha theo gi CIF.
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DIN BIN TIN T

Tng phng tin thanh ton
ng phng tin thanh ton tng 28,99% trong nm 2009, cao hn so vi tc tng 20,31% ca nm 2008 ch yu do tn dng i vi nn kinh t tng cao. C cu Tng phng tin thanh ton tip tc chiu hng thay i tch cc vi t trng tin mt t 14,01%, gim so vi mc 14,6% ca nm 2008 (nm 2007 l 16,36% v nm 2006 l 17,21%). iu ny cho thy cc hnh thc thanh ton khng dng tin mt tng mnh hn l cc hnh thc thanh ton bng tin mt. T trng tin gi bng
ngoi t trong tng phng tin thanh ton tng nh t mc 20,37% trong nm 2008 ln mc 20,41% trong nm 2009.
Huy ng vn t nn kinh t
Huy ng vn ca h thng ngn hng tng 29,88%, cao hn so vi mc 22,84% ca nm 2008. Trong , huy ng vn bng VND tng 30,07% (nm 2008: tng 21,38%), huy ng bng ngoi t tng 29,29% (nm 2008: tng 27,74%). Huy ng vn tng nhanh trong 6 thng u nm, t mc bnh qun trn 3%/thng
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(thng 5/2009 tng mnh nht, mc 4,02%). Tuy nhin, trong 6 thng cui nm, tc tng trng huy ng vn chm li, bnh qun tng 1,67%/thng (thng 8/2009 tng thp nht, mc 0,82%).
Tn dng i vi nn kinh t
Tng d n tn dng cho nn kinh t ca h thng ngn hng tng 37,53%, cao hn nhiu so vi mc tng 23,38% ca nm 2008 ch yu do tc ng ca cc chnh sch kch thch kinh t, p ng nhu cu vn cho pht trin kinh t ca t nc. Trong , tn dng bng VND tng 43,51%, cao hn nhiu so vi nm 2008 (tng 25,02%), tn dng bng ngoi t tng 15,12%, thp hn so vi nm 2008 (tng 17,62%).
Trong 2 thng u nm 2009, tn dng VND tng thp theo xu hng t na cui nm 2008. T thng 3 n thng 9/2009, tn dng tng mnh tr li hng ng v tranh th chnh sch kch cu, h tr li sut ca Chnh ph nhm ngn chn suy gim kinh t. Tuy nhin, mc tng chm li trong 3 thng cui nm 2009 do mc c h tr li sut gim dn. C cu tn dng ngn hng phn theo cc ngnh kinh t thay i khng nhiu so vi t trng ca nm 2008. T trng tn dng phc v pht trin nng thn chim 22,8% (nm 2008: 28,84%); ngnh thng nghip chim 19,2% (nm 2008: 18,67%). T trng tn dng i vi ngnh khc nh cng nghip
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chim 26,5%; xy dng chim 12,9% ; vn ti, kho bi, thng tin lin lc chim 5,4%, t bin ng so vi nm 2008.
Din bin li sut

Nm 2009, li sut huy ng v cho vay bng VND c xu hng tng. Trong , li sut huy ng tng cao hn so vi mc tng li sut cho vay, dn n chnh lch gia li sut huy ng-cho vay c xu hng b thu hp. Li sut huy ng VND trong 2 thng u nm 2009 c xu hng gim khong 1-2%/nm so vi cui nm 2008. Tuy nhin, t cui thng 2/2009, li sut huy ng VND lun c sc p tng, ch yu do nhu cu vay vn tn dng ln trin khai cc c ch h tr li sut, cc doanh nghip v h sn xut thc hin cc phng n sn xut kinh doanh, d n u t theo chng trnh kch thch u t ca Chnh ph, cc NHTM kh khn trong vic cn i vn huy ng t th trng cho vay. n 31/12/2009, mt bng li sut huy ng ca cc k hn t 1 thng tr ln mc 10-10,49%/nm. Li sut cho vay VND trong 2 thng u nm 2009 gim khong 1,5-2,5%/nm so vi cui nm 2008 v tng i n nh n ht thng 11/2009, nhng lun st mc
li sut cho vay ti a l 10,5%/nm (150% li sut c bn). T ngy 01/12/2009, sau khi NHNN iu chnh tng li sut c bn t 7%/nm ln 8%/nm, cc TCTD iu chnh li sut cho vay ln mc ti a 12%/nm. i vi cc nhu cu vn phc v i sng v cho vay thng qua nghip v pht hnh v s dng th tn dng, li sut cho vay mc cao hn li sut cho vay thng thng khong 3-5%/nm. n 31/12/2009, li sut cho vay thng thng ph bin mc 12%/ nm, li sut cho vay cc nhu cu vn phc v i sng, cho vay thng qua th tn dng ph bin mc t 15-17%/nm.
Din bin th trng ngoi hi

Cung cu ngoi t nm 2009 lun c nhng din bin phc tp, to nhiu sc p ln t gi hi oi, nguyn nhn ch yu l do tc ng ca cc yu t: (i) thm ht cn cn thng mi; (ii) khng hong ti chnh ton cu tc ng n tm l gm gi ngoi t: nhiu doanh nghip xut khu gm gi, khng bn ngoi t nn NHTM khng ngoi t iu ho cho nn kinh t. (iii) tc ng ca chnh sch h tr li sut i vi cc doanh nghip vay bng VND: do li sut vay VND thp, phm vi v thi gian cho vay c m rng, mt s doanh nghip c
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ngoi t khng mun bn ngoi t, mun vay VND; (iv) cc ngun thu ngoi t nh t xut khu, kiu hi, du lch, FDI, FII u gim so vi cc nm trc. T gi VND/USD: T gi bnh qun lin ngn hng cui nm 2009 mc 17.941 VND/USD, tng 5,69% so vi u nm. T gi mua - bn VND/USD ca cc ngn hng thng mi tng khong 5,6% so vi thi im u nm, giao dch quanh mc 18.479 VND/USD. T gi VND/EUR: T gi mua - bn VND/EUR tng khong 2.200/2.300 VND/ EUR, tng ng tng 9,2%, t mc 24.200/24.700 VND/EUR thi im ngy 04/01/2009 ln mc 26.400/27.000 VND/ EUR thi im ngy 31/12/2009.
cui nm, do nhu cu vn tng cao p ng cc chng trnh kch thch kinh t ca Chnh ph tc ng lm tng li sut trn th trng lin ngn hng bng VND. Li sut qua m thng 8/2009 t 7,5-8%/nm; thng 12/2009 ph bin t 10,5-11%/nm. Cc TCTD ch yu giao dch cc k hn ngn, cho thy vn vay trn th trng ngn hng ch yu l p ng kh nng thanh khon ca cc TCTD. Quy nh giao dch th trng lin ngn hng: m bo hot ng trn th trng lin ngn hng c n nh, nng cao kh nng qun tr ngun vn, m bo an ton trong hot ng ca cc TCTD, NHNN quy nh cc TCTD giao dch trn th trng lin ngn hng tp trung ti Hi s chnh, khng giao quyn cho chi nhnh ca mnh thc hin huy ng, cho vay i vi cc TCTD khc.
Th trng lin ngn hng

Quy m giao dch: tng doanh s giao dch lin ngn hng ca cc TCTD trong nm 2009 t 3.538 nghn t ng, tng 7,3% so vi nm 2008, gp phn h tr v m bo cho hot ng thanh ton ca h thng ngn hng thng sut. Li sut lin ngn hng: tng i n nh trong 6 thng u nm, li sut qua m ph bin t 6-7%/nm. Trong 6 thng
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IU HNH CC CNG C CHNH SCH TIN T

m 2009, NHNN iu hnh CSTT theo hng ni lng thn trng, h tr thanh khon, to iu kin cho cc TCTD m rng tn dng hiu qu gp phn thc hin cc Ngh quyt ca Quc hi v Chnh ph v vic ngn chn suy gim kinh t, n nh kinh t v m, kch cu u t, tiu dng, y mnh xut khu, ch ng phng nga lm pht v m bo an ton h thng.
nghip v th trng m khng cao vi doanh s trng thu ch t 74% so vi lng tin cho mua ca NHNN. Khi lng trng thu bnh qun mi phin t khong 1.000 t ng/phin. Na cui nm 2009, nhm p ng nhu cu vn ca cc TCTD c xu hng tng cao theo cc chng trnh kch cu ca Chnh ph, NHNN tng khi lng cho mua qua nghip v th trng m, khi lng trng thu bnh qun cc phin cho mua tng mnh, t 95% khi lng cho mua ca NHNN v t khong 6.000 t ng/phin, gp 6 ln so vi mc 6 thng u nm. c bit trong na u thng 12, NHNN cho mua qua knh nghip v th trng m vi khi lng bnh qun xp x 15.000 t ng/phin h tr thanh khon cho cc TCTD do nhu cu thanh ton tng cao trong dp Tt dng lch. K hn cho mua c thc hin linh hot 7 ngy v 14 ngy vi li sut cho mua tng ng l 7%/nm v 7-8%/nm. ng thi, ch ng kim sot lm pht v iu tit linh hot vn kh dng ca cc TCTD trong h thng, NHNN thc hin cho bn tn phiu NHNN vi nh k 3 phin/tun, k hn 3 thng v 6 thng; phng thc u thu li sut, xt thu thng nht, nhng trong s 68 phin u thu bn tn phiu NHNN ch c 2 phin bn trng thu vi doanh s t 102 t ng. Cng vi vic iu hnh linh hot v thn trng cc cng c CSTT khc, nghip v th trng m gp phn n nh th NGN HNG NH NC VIETNAM
Nghip v th trng m
Nm 2009, nghip v th trng m c iu hnh linh hot, bm st din bin cung cu vn ca cc TCTD. Cc giao dch nghip v th trng m c thc hin hng ngy, ch yu l cc giao dch mua giy t c gi vi k hn ngn (7, 14 ngy); phng thc u thu khi lng, cng b li sut v khi lng nhm n nh th trng; li sut c iu chnh theo mc tiu iu hnh v pht tn hiu iu hnh ca NHNN; khi lng cho mua ph hp vi mc tiu iu tit linh hot vn kh dng, h tr thanh khon, m bo kh nng thanh ton. Na u nm 2009, NHNN thc hin cc phin cho mua k hn 14 ngy, li sut gim dn t 9%/nm xung 7%/nm cung ng vn ngn hn cho nn kinh t, to iu kin cho cc TCTD p ng nhu cu vn cho cc chng trnh kch thch tng trng kinh t. Tuy nhin, chng trnh kch thch tng trng kinh t ang giai on u, nhu cu vn ca nn kinh t cha cao, ngun vn ca cc TCTD vn c d tha nn nhu cu tham gia cc phin cho mua BO CO THNG NIN
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trng tin t, m bo an ton thanh ton cho h thng cc TCTD; ng thi, li sut giao dch trn th trng lin ngn hng c xu hng xoay quanh li sut cho mua qua nghip v th trng m.
Ngn hng Nng nghip v pht trin nng thn, iu chnh gim t 3% - 2% - 1% i vi k hn di 12 thng v gi nguyn t l DTBB 1% i vi k hn t 12 thng tr ln. T l DTBB bng ngoi t c gi nguyn nh nm 2008, mc 7% i vi tin gi di 12 thng, 3% i vi tin gi t 12 thng tr ln, duy tr n nh li sut ngoi t. Ring Ngn hng Nng nghip v pht trin nng thn, t l DTBB bng ngoi t l 6% i vi tin gi di 12 thng, 2% i vi tin gi t 12 thng tr ln. i vi li sut tin gi DTBB bng VND, NHNN iu chnh gim t 8,5%-3,6%-1,2%/ nm. Li sut i vi tin gi vt DTBB bng ngoi t gim t 0,5%/nm xung 0,1%/nm. Vic iu chnh gim cc mc li sut nh nu trn l ph hp vi cc mc li sut iu hnh khc ca NHNN v khuyn khch cc TCTD s dng c hiu qu ngun vn huy ng t nn kinh t.
Ti cp vn
NHNN tip tc s dng cng c ti cp vn nh l hnh thc cp tn dng c bo m ca NHNN nhm cung ng vn ngn hn v phng tin thanh ton cho cc TCTD. Theo , NHNN thc hin ti cp vn vi k hn 1 thng v 3 thng ch yu cung ng phng tin thanh ton cho nn kinh t. Li sut cho vay ti cp vn t 7-8%/nm. Cc TCTD tham gia vay ti cp vn tp trung ch yu vo cui nm 2009 nhm p ng kp thi nhu cu rt tin gi ca cc t chc kinh t v dn c chi tiu trong dp Tt dng lch.
Hon i ngoi t
NHNN thc hin hon i ngoi t vi cc TCTD gp kh khn tm thi v ngun vn bng VND, to iu kin cho cc TCTD cn i gia ngun vn v s dng vn VND v ngoi t, gp phn n nh th trng tin t v tng d tr ngoi hi nh nc. K hn giao dch hon i ngoi t c thc hin l 3 thng, 6 thng, 12 thng vi li sut tng ng l 6%/nm; 6,25% v 6,5%/ nm. n cui nm 2009, NHNN ch thc hin giao dch i vi cc k hn 3 thng v 6 thng vi li sut c iu chnh tng tng ng ln mc 7,75%/nm v 8%/nm.
iu hnh li sut
Nm 2009, NHNN tip tc iu hnh li sut theo c ch li sut c bn, theo cc TCTD n nh li sut huy ng v cho vay bng VND khng qu 150% li sut c bn. Tuy nhin, i vi cc nhu cu vay vn phc v i sng, cho vay thng qua nghip v pht hnh, s dng th tn dng, NHNN ban hnh Thng t s 01/2009/ TT-NHNN ngy 23/1/2009, cho php cc TCTD c thc hin c ch li sut tha thun. gim mt bng li sut cho vay, p ng nhu cu vn cho nn kinh t pht trin, nht l nhng lnh vc u tin, sn xut kinh doanh c hiu qu, thng 2/2009, NHNN iu chnh gim li sut c bn t 8,5% xung 7%/nm, v duy tr n nh n ht thng 11/2009. Li sut ti cp vn c iu chnh gim 2 ln t 9,5%/ nm xung 8%/nm (thng 2) v xung 7%/ nm (ngy 10/4/2009); li sut ti chit khu NGN HNG NH NC VIETNAM
D tr bt buc
Ngay t u nm 2009, h tr cc TCTD tng cng cung ng vn cho nn kinh t, chng suy gim kinh t, NHNN 2 ln iu chnh gim t l DTBB bng VND i vi k hn di 12 thng: t 6% - 5% 3% v 1 ln iu chnh gim t 2%-1% i vi k hn t 12 thng tr ln; ring i vi BO CO THNG NIN
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c iu chnh gim 2 ln t 7,5% xung 6%/nm (thng 2) v xung 5%/nm (ngy 10/4/2009). Trong thng 12/2009, kim sot cht ch quy m v cht lng tn dng, ph hp vi cc mc tiu kinh t v m theo Ngh quyt ca Quc hi v ch trng ca Chnh ph, ng thi to iu kin cho cc TCTD huy ng cc ngun vn t nn kinh
t m rng kinh doanh v p ng cc nhu cu vn sn xut - kinh doanh c hiu qu, NHNN iu chnh tng li sut c bn t 7%/nm ln 8%/nm, li sut ti cp vn t 7%/nm ln 8%/nm, li sut ti chit khu t 5%/nm ln 6%/nm.
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CHNG TRNH H TR LI SUT

m 2009, NHNN t chc ch o trin khai kp thi, quyt lit cc c ch h tr li sut theo cc quyt nh ca Th tng Chnh ph, nhm ngn chn suy gim kinh t, thc y sn xut kinh doanh pht trin v coi y l nhim v trng tm hng u ca ngnh Ngn hng trong nm 2009.
phc v sn xut nng nghip v vt liu xy dng nh khu vc nng thn, h tr li sut 4%/nm vi thi hn h tr ti a 12 thng. C ch h tr li sut i vi cc khon vay ti Ngn hng Chnh sch x hi: thc hin h tr li sut 4%/nm i vi tt c cc khon vay pht sinh trong khong thi gian t ngy 01/5/2009 n 31/12/2009, thi hn h tr ti a 24 thng. C ch h tr li sut i vi cc khon vay ti Ngn hng Pht trin Vit Nam, Qu u t pht trin a phng: thc hin h tr li sut 4%/nm i vi cc khon vay trung, di hn pht sinh trong khong thi gian t ngy 01/4/2009 n 31/12/2009, thi hn h tr ti a 24 thng. Theo cc quy nh v c ch h tr li sut, t chc, c nhn vay vn c h tr li sut ti NHTM, cng ty ti chnh theo c ch cho vay thng thng; cc TCTD kin quyt khng c ni lng cc iu kin cho vay; vay vn c h tr li sut ti Ngn hng Pht trin Vit Nam v Ngn hng Chnh sch x hi Vit Nam theo c ch cho vay u i ca Chnh ph; vay vn c h tr li sut ti Qu u t pht trin a phng theo quy nh ca Chnh ph v hng dn ca B Ti chnh. Phng thc h tr li sut l khi cc NHTM, cng ty ti chnh, Ngn hng Chnh sch x hi, Ngn hng Pht trin Vit Nam v Qu u t pht trin a phng thu li tin vay ca khch hng, th gim tr s li tin vay phi tr cho khch hng tng ng vi s li tin vay c h tr li sut.
C ch h tr li sut
NHNN phi hp vi cc B, Ngnh lin quan trin khai kp thi cc c ch h tr li sut theo ch o ca Th tng Chnh ph: C ch h tr li sut cho cc t chc, c nhn vay vn ngn hng sn xut kinh doanh: cc NHTM, cng ty ti chnh thc hin h tr li sut 4%/nm i vi cc khon vay ngn hn pht sinh trong khong thi gian t ngy 01/02/2009 n 31/12/2009, thi hn h tr ti a 08 thng. C ch h tr li sut cho cc t chc, c nhn vay vn trung, di hn ngn hng thc hin d n u t mi pht trin sn xut - kinh doanh: cc NHTM, cng ty ti chnh thc hin h tr li sut 4%/nm i vi cc khon vay trung, di hn pht sinh trong khong thi gian t ngy 01/4/2009 n 31/12/2009, thi hn h tr ti a 24 thng. C ch h tr li sut vn vay mua my mc thit b, vt t phc v sn xut nng nghip v vt liu xy dng nh khu vc nng thn: cc NHTM, cng ty ti chnh thc hin h tr li sut i vi cc khon vay pht sinh trong khong thi gian t ngy 01/5/2009 n 31/12/2009; i vi khon vay mua my mc, thit b, h tr 100% li sut tin vay vi thi hn h tr ti a 24 thng; i vi khon vay mua vt t BO CO THNG NIN
Kt qu cho vay h tr li sut

Tng d n h tr li sut n ngy NGN HNG NH NC VIETNAM
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31/12/2009 ca cc NHTM, cng ty ti chnh, Ngn hng Pht trin Vit Nam, Ngn hng Chnh sch x hi t 385.824 t ng. Trong , d n cho vay h tr li sut ca cc NHTM, cng ty ti chnh l 347.594 t ng; d n cho vay h tr li sut ca Ngn hng Pht trin Vit Nam l 12.265 t ng; d n cho vay h tr li sut ca Ngn hng Chnh sch x hi Vit Nam l 25.965 t ng. Trong d n cho vay h tr li sut ca cc NHTM, cng ty ti chnh: (i) Phn theo i tng khch hng vay: doanh nghip Nh nc l 59.548 t ng (chim 17,13%), doanh nghip ngoi Nh nc l 245.105 t ng (70,51%), h sn xut 42.941 t ng (12,35%); (ii) Phn theo vng kinh t: vng ng bng Sng Hng l 107.131 t ng (chim 30,87%), vng ng Bc l 24.822 t ng (chim 7,14%), vng Ty Bc l 3.883 t ng (chim 1,12%), vng Bc Trung B l 17.030 t ng (chim 4,9%),
vng Duyn hi Nam Trung B l 22.912 t ng (chim 6,59%), vng Ty Nguyn l 14.982 t ng (chim 4,31%), vng ng Nam B l 98.750 t ng (chim 28,41%), vng ng bng Sng Cu Long l 59.901 t ng (chim 16,66%). Trong bi cnh nn kinh t nc ta b nh hng tiu cc ca khng hong ti chnh v suy thoi kinh t th gii, vic thc hin c ch h tr li sut t c s nht tr, ng h, ng thun cao ca c h thng chnh tr, ngi dn v cng ng doanh nghip; cc t chc ti chnh, tin t quc t nh gi l gii php mang tnh c th ca Vit Nam. y l mt trong nhng nhng gii php kch thch kinh t c la chn ti u vi chi ph thp, t c mc tiu l h tr doanh nghip, h sn xut duy tr sn xut - kinh doanh, m rng u t, gim gi thnh tng kh nng cnh tranh, to vic lm, gp phn thc hin mc tiu hng u l ngn chn suy gim kinh t.
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Cc vn bn ch o lin quan n chng trnh h tr li sut

C ch h tr li sut i vi khon vay ngn hn bng VND: - Quyt nh s 131/Q-TTg ngy 23/1/2009 v/v h tr li sut cho cc t chc, c nhn vay vn ngn hng sn xut - kinh doanh. - Quyt nh s 333/Q-TTg ngy 10/3/2009 sa i, b sung mt s iu ca Quyt nh 131/Q-TTg ngy 23/01/2009 ca Th tng Chnh ph v h tr li sut cho cc t chc, c nhn vay vn ngn hng sn xut- kinh doanh. - Thng t s 02/2009/TT-NHNN ngy 03/02/2009 Quy nh chi tit thi hnh vic h tr li sut cho cc t chc v c nhn vay vn ngn hng sn xut-kinh doanh. - Thng t s 04/TT-NHNN ngy 13/3/2009: Sa i, b sung thng t s 02/2009/TT-NHNN ngy 3/2/2009 quy nh chi tit v h tr li sut cho cc t chc, c nhn. C ch h tr li sut i vi khon vay trung, di hn bng VND: - Quyt nh s 443/Q-TTg ngy 04/04/2009 ca Th tng Chnh ph v vic h tr li sut cho cc t chc, c nhn vay vn trung, di hn ngn hng thc hin u t mi pht trin sn xut - kinh doanh. - Thng t s 05/2009/TT-NHNN ngy 7/4/2009 Quy nh chi tit thi hnh vic h tr li sut i vi t chc, c nhn vay vn trung, di hn ngn hng thc hin u t mi sn xut-kinh doanh. - Thng t s 21/2009/TT-NHNN ngy 9/10/2009 sa i, b sung mt s iu ca Thng t s 05/2009/ TT-NHNN ngy 7/4/2009 ca Ngn hng Nh nc Vit Nam quy nh chi tit thi hnh vic h tr li sut i vi cc t chc, c nhn vay vn trung, di hn ngn hng thc hin u t mi pht trin sn xut kinh doanh. - Thng t s 24/2009/TT-NHNN ngy 14/12/2009 quy nh chi tit thi hnh vic h tr li sut i vi cc t chc, c nhn vay vn trung, di hn Ngn hng Pht trin Vit Nam v Qu u t pht trin a phng thc hin d n u t mi pht trin sn xut - kinh doanh. C ch h tr li sut i vi khon vay bng VND mua my mc, thit b, vt t phc v sn xut nng nghip v vt liu xy dng nh khu vc nng thn: - Quyt nh s 497/Q-TTg v h tr li sut vn vay my mc thit b, vt t phc v sn xut nng nghip v vt liu xy dng nh khu vc nng thn. - Quyt nh 2095/Q-BCT v vic ban hnh Danh mc chi tit hng ho sn phm trong nc c hng h tr li sut vn vay theo Quyt nh s 497/Q-TTg ngy 17/4/2009 ca Th tng Chnh ph. - Thng t s 09/2009/TT-NHNN ngy 05/5/2009 quy nh chi tit thi hnh vic h tr li sut vay vn mua my mc, thit b, vt t phc v sn xut nng nghip v vt liu xy dng nh khu vc nng thn. C ch h tr li sut i vi khon vay bng VND ca ngi ngho v cc i tng chnh sch khc ti NHCSXH: - Quyt nh 579/Q-TTg ngy 06 thng 5 nm 2009 ca Th tng Chnh ph v vic h tr li sut i vi cc khon vay ti Ngn hng Chnh sch x hi. - Quyt nh 622/Q-TTg ngy 17 thng 5 nm 2009 ca Th tng Chnh ph sa i, b sung Quyt nh s 579/Q-TTg ngy 06 thng 5 nm 2009 ca Th tng Chnh ph v vic h tr li sut i vi cc khon vay ti Ngn hng Chnh sch x hi. - Thng t s 14/2009/TT-NHNN Quy nh chi tit thi hnh vic h tr li sut i vi cc khon vay ca ngi ngho v cc i tng chnh sch khc ti Ngn hng Chnh sch x hi. Cc vn bn hng dn vic thc hin c ch h tr li sut: - Cng vn s 1436/NHNN-CSTT ngy 3/3/2009 v cng vn s 2244/NHNN-CSTT ngy 2/4/2009 v hng dn thc hin c ch h tr li sut. - Cng vn s 1183/NHNN-TCKT ngy 23/2/2009 v 4700/NHNN-TCKT ngy 22/6/2009 hng dn hch ton h tr li sut cho NHTM v cng ty ti chnh. Cng vn s 4723/NHNN-TCKT v vic hch ton h tr li sut i vi NH Pht trin Vit Nam.
BO CO THNG NIN
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QUN L NGOI HI
m 2009, NHNN thc hin tt chnh sch qun l ngoi hi lin quan n iu hnh t gi, gim st th trng ngoi t, qun l d tr ngoi hi nh nc, qun l cc giao dch vng lai v qun l cc giao dch vn.
cc bin php ng b nu trn, th trng ngoi hi c duy tr n nh, thanh khon trn th trng tng ln, nhu cu ngoi t v c bn c bo m.
iu hnh t gi
iu hnh t gi linh hot, theo tn hiu th trng v phi hp vi chnh sch li sut thng qua vic iu chnh bin t gi v t gi bnh qun lin ngn hng. Can thip cung cu ngoi t trn th trng mc hp l to thanh khon trn th trng, h tr ngoi t cho nhu cu nhp khu hng ha thit yu, phc v hot ng sn xut kinh doanh. Tng cng thanh tra, gim st hot ng kinh doanh ngoi t ca cc TCTD c php. Chn chnh cc TCTD mua bn ngoi t theo ng quy nh. Phi hp vi cc B, Ngnh trin khai cc bin php chng bun bn ngoi t tri php trn th trng ch en. Tng cng phi hp vi cc B, Ngnh, c bit l B Cng thng trong vic kim ch nhp siu, h tr cn bng cung cu ngoi t trong nc. Cng b nhng thng tin v kinh t v m ngi dn v doanh nghip hiu r hn v tnh hnh kinh t t nc v cc chnh sch ca NHNN. n thi im cui nm, trc p lc nhp siu ln v phng nga lm pht cao tr li, ngy 25/11/2009, NHNN iu chnh tng t gi bnh qun trn th trng ngoi t lin ngn hng thm 5,44%, nhng gim bin gia t gi mua, bn giao ngay ca cc TCTD so vi t gi bnh qun ngoi t trn th trng ngoi t lin ngn hng do NHNN thng bo t 5% xung 3%. Vi BO CO THNG NIN
Qun l D tr ngoi hi nh nc
D tr ngoi hi nm 2009 c qun l an ton, hiu qu, p ng c cc nhu cu v ngoi t thit yu ca nn kinh t; gp phn h tr cho vic thc thi chnh sch t gi v iu hnh chnh sch tin t ca NHNN. ng thi, hot ng u t d tr ngoi hi vn tip tc sinh li, gp phn hn ch suy gim quy m d tr ngoi hi. thc hin cc mc tiu qun l v hn ch suy gim quy m d tr ngoi hi, NHNN phn tch th trng xy dng c cu, tiu chun, hn mc u t d tr ngoi hi ph hp trong tng thi k; tch cc m phn, k kt, gii ngn cc khon vay t cc chng trnh, d n vay vn, vin tr nc ngoi nhm mua thm ngoi t b sung d tr ngoi hi; xut vi Th tng Chnh ph ban hnh vn bn s 2579/TTg-KTTH ngy 23/12/2009 yu cu mt s Tp on, Tng cng ty Nh nc bn ngoi t di dng tin gi v cc ngun thu vng lai cho cc TCTD v ban hnh Thng t s 26/2009/ TT-NHNN ngy 30/12/2009 hng dn vic mua bn ngoi t trn tng cng ngun ngoi t p ng cc nhu cu ca nn kinh t, gim sc p i vi d tr ngoi hi.
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HOT NG THANH TRA GIM ST NGN HNG

Tnh hnh pht trin, hot ng ca h thng cc TCTD
lng cc TCTD l i tng m NHNN gim st, thanh tra hin nay gm c: 5 NHTM Nh nc trong c 2 ngn hng hon thnh c phn ha l Ngn hng Ngoi thng Vit Nam v Ngn hng Cng thng Vit Nam; Ngn hng Chnh sch x hi; 37 NHTM c phn; 5 ngn hng Lin doanh; 40 chi nhnh Ngn hng nc ngoi; 5 ngn hng 100% vn nc ngoi; 16 cng ty ti chnh; 13 cng ty cho thu ti chnh; 49 vn phng i din TCTD nc ngoi; Qu tn dng nhn dn trung ng v 1.030 qu tn dng nhn dn c s. Tng vn ch s hu ca cc TCTD t 282.611,77 t ng, chim 9,32% tng ti sn, tng 37,43% so vi cui nm 2008. Trong , vn iu l l 200.873 t ng, tng 35,15% so vi cui nm 2008. Kt qu tng trng vn ch s hu v vn iu l cho thy cc TCTD quan tm n ngun ni lc, tng bc nng cao nng lc ti chnh ca mnh. Tng ti sn ca cc TCTD cng tip tc tng ln thng qua cc dch v nh: huy ng vn t cc t chc, c nhn; cp tn dng (cho vay, bo lnh) i vi nn kinh t v cc dch v khc. Nm 2009, tng ti sn ca ton h thng tng 36,39% so vi nm 2008. Khi NHTM Nh nc c Ti sn C chim t trng ln nht trong ton h thng 45,55% (nm 2008: 51,48%). T l n xu so vi tng d n tn dng ca ton h thng cc TCTD l 1,99%, thp hn so vi BO CO THNG NIN mc 2,13% ca cui nm 2008. Kt qu kinh doanh: Cc TCTD u c thu nhp ln hn chi ph, tuy nhin cc ch s ROA, ROE ca cc TCTD gim so vi cui nm 2008 do tc ng ca khng hong ti chnh v suy thoi kinh t ton cu.
Hot ng thanh tra, gim st v cng tc phng chng ra tin

Hot ng thanh tra Nm 2009, C quan Thanh tra, gim st Ngn hng v Thanh tra, gim st Ngn hng Nh nc 63 chi nhnh tnh, thnh ph tin hnh hn 1.000 cuc thanh tra, kim tra cc TCTD, tp trung ch yu vo cc ni dung: (i) thanh tra, kim tra cc TCTD trong vic cho vay h tr li sut, chp hnh ch qun l ngoi hi v tun th cc gii hn an ton trong hot ng ngn hng;(ii) thanh tra cho vay theo li sut tha thun i vi nhu cu vay vn phc v i sng, cho vay qua pht hnh v s dng th tn dng (iii) t chc thanh tra t xut hot ng cho vay TCTD. Cn c kt qu thanh tra, gim st, C quan Thanh tra, gim st ngn hng yu cu n v b kim tra, thanh tra chn chnh, khc phc cc sai phm, tn ti c pht hin. Phi hp cht ch vi cc c quan bo v php lut nm bt tnh hnh v x l kp thi lin quan ti hot ng ca cc TCTD. Hot ng gim st t xa Nghin cu, xy dng h thng gim st t xa c kh nng cnh bo sm i vi cc TCTD c vn v cc ri ro trong hot NGN HNG NH NC VIETNAM
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ng ngn hng: h thng gim st an ton vi m theo phng php CAMELS nhm gim st i vi cc TCTD ring l; h thng gim st an ton v m thc hin gim st cc ri ro, nguy c i vi cc TCTD; kim sot khng hong v cc s c trong hot ng ngn hng. Cng tc phng chng ra tin NHNN tip nhn, phn tch, x l cc giao dch ng ng t cc TCTD chuyn sang cc c quan nh nc c thm quyn thanh tra, iu tra, x l theo quy nh ca php lut. NHNN ban hnh Thng t s 22/2009/TT-NHNN ngy 17/11/2009
hng dn cc t chc c thnh lp v hot ng theo Lut cc t chc tn dng v cc t chc khc c hot ng ngn hng thc hin Ngh nh s 74 ngy 7/6/2005 ca Chnh ph v phng chng ra tin. NHNN thc hin tt vai tr C quan thng trc ca Ban Ch o phng, chng ra tin theo quyt nh s 470/Q-TTg ngy 13/4/2009 ca Th tng Chnh ph.
BO CO THNG NIN
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CNG NGH NGN HNG V HOT NG THANH TON

Hin i ha h thng thanh ton
m 2009, h thng thanh ton in t lin ngn hng giai on 2 c hon thnh v a vo vn hnh, nh du mt giai on mi ca h thng thanh ton ngn hng vi nhng thay i c bn v k thut, cng ngh tin tin, hiu nng x l v quy trnh nghip v hin i theo thng l quc t, p ng nhu cu thanh ton vi dung lng ngy cng cao ca nn kinh t. y cng l c hi m rng cc dch v ngn hng hin i, thay i t duy kinh doanh ngn hng truyn thng, nng cao hiu qu iu hnh chnh sch tin t. H thng c trin khai ti 63 NHNN chi nhnh tnh, thnh ph, 3 n v thuc NHNN, 81 t chc cung ng dch v thanh ton v trn 700 chi nhnh NHTM trong ton quc vi bnh qun 40.000-44.000 giao dch/ngy, doanh s t khong 70.000 t ng/ngy. H thng sn sng kt ni vi H thng thanh ton ca Kho bc Nh nc v cc h thng cn thit khc. H thng thanh ton b tr in t vn p ng tt cho nhu cu thanh ton ti cc a bn tnh, thnh ph vi chi ph r v hiu qu. Nm 2009, lng giao dch bnh qun t trn 18.000 giao dch/ngy vi gi tr bnh qun trn 8.500 t ng/ngy. pht trin dch v thanh ton th hiu qu p ng nhu cu cp bch hin nay, NHNN trnh v c Th tng Chnh ph ph duyt n xy dng Trung tm chuyn mch th thng nht kt ni cc h thng ATM ca cc lin minh th hin hnh thnh mt h thng thng nht trn ton quc, tng tnh thun tin cho ngi s dng dch v th ngn hng, thc y BO CO THNG NIN
thanh ton bng th, gp phn thc hin ch trng ca Chnh ph pht trin thanh ton khng dng tin mt.
Hin i ha cc phng tin v dch v thanh ton

Trong nm 2009, nhiu phng tin v dch v thanh ton mi, tin li v tin ch da trn nn tng ng dng cng ngh thng tin nh th ngn hng, Internet Banking, Mobile Banking, V in t, xut hin v dn i vo cuc sng. Cng vi vic pht hnh th a tin ch v u t thm POS ti cc n v chp nhn thanh ton th, cc NHTM cng quan tm n an ton, bo mt i vi th thanh ton. Tnh n cui nm 2009 c 46 t chc pht hnh th vi trn 180 thng hiu th. S lng th trong lu thng t trn 21,5 triu th (tng 54% so vi cui nm 2008), vt k hoch ra cho nm 2010 (15 triu th); h thng ATM t trn 9.700 my (tng gn 27% so vi nm 2008) v trn 34.000 POS/ EDC (tng 36% so vi nm 2008). Dch v tr lng qua ti khon c trin khai mnh m, t nhiu kt qu tch cc. n cui nm 2009 c 41,5% n v hng lng t Ngn sch Nh nc vi 1,44 triu cn b, cng chc nhn lng qua ti khon, chim 46% tng s ngi hng lng t Ngn sch Nh nc. Nhiu doanh nghip v t chc khc cng trin khai dch v tr lng qua ti khon.
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THNG TIN TN DNG

m 2009, Trung tm thng tin tn dng (CIC) tip tc l knh cung cp thng tin tin cy, ng gp tch cc trong cng tc qun l ca NHNN v bo m hot ng kinh doanh tn dng an ton, hiu qu, gp phn vo vic n nh h thng ngn hng. c bit ti Bo co nh gi mi trng kinh doanh ca Ngn hng Th gii (WB) nm 2010, tip tc nh gi hot ng thng tin tn dng Vit Nam c bc ci thin, ch s v thng tin tn dng c duy tr, gp phn nng cao ch s tip cn tn dng (getting credit) ca Vit Nam ln hng 30/183 nc.
bng trong tip cn tn dng vi tt c khch hng vay. n 31/12/2009, CIC k kt hp ng cung cp thng tin vi trn 1000 TCTD, chi nhnh TCTD v cc t chc khc c hot ng ngn hng vi trn 10.000 ngi s dng. Tng s bo co thng tin cung cp nm 2009 l trn 800.000 bn, gp 2 ln nm 2008.
Trao i thng tin quc t

CIC k kt v thc hin hp ng trao i thng tin vi cc hng thng tin quc t gip cc TCTD, doanh nghip Vit Nam trong giao dch lm n vi cc doanh nghip nc ngoi. Thng qua knh thng tin ny, CIC pht hin ra mt s cng ty nc ngoi c tnh hnh ti chnh yu hoc ngng hot ng nhng c du hiu la o vo Vit Nam cho cho vay vn, t cnh bo ti cc TCTD, cc doanh nghip trnh tn tht ln v kinh t.
Thu thp thng tin

CIC thu thp thng tin v khch hng vay ti tt c cc TCTD hot ng theo Lut cc TCTD, mt s t chc khc c hot ng ngn hng nh Qu u t v pht trin th, Qu bo v mi trng, Qu bo lnh tn dng...Tng s h s khch hng ti kho d liu CIC n 31/12/2009 l gn 18 triu h s, vi tng d n cp nht vo kho d liu t trn 95% tng d n nn kinh t. Quy m kho d liu ca CIC c thit k v xy dng trn nn cng ngh tin hc hin i, c th truy xut thng tin tc thi qua website v kho lu tr d liu lch s duy tr 5 nm, c kim sot cht lng u vo cht ch. y l mt li th ln hot ng thng tin tn dng Vit Nam bc vo hi nhp quc t, h tr cho vic chm im, xp hng tn dng ni b khch hng vay ca cc TCTD.
Bn tin Thng tin tn dng

Bn thng tin tn dng ca CIC l n phm thng tin ni b trong h thng ngn hng, pht hnh 4 k/thng, xut bn hn 100.000 cun mi nm, cung cp thng tin tham kho v hot ng tn dng ngn hng, c ch chnh sch mi v tn dng, li sut, t gi; cc cnh bo v tnh hnh quan h tn dng ca nhng khch hng vay ti cc TCTD. Nm 2009, CIC chun b ng website cnh bo tn dng cung cp thng tin cnh bo v TCTD v khch hng ca TCTD, gip ngi s dng c c bc tranh ton din v khch hng vay, gp phn ngn nga, hn ch ri ro tn dng ng thi phc v chc nng gim st ca NHNN v hot ng tn dng ca cc TCTD, m bo an ton h thng ngn hng. NGN HNG NH NC VIETNAM
V cung cp thng tin

CIC khng ngng ci tin v ra mt cc nhm sn phm a dng, gp phn m bo an ton h thng ngn hng ng thi ngn nga v hn ch ri ro trong hot ng kinh doanh ca cc TCTD, m bo cng BO CO THNG NIN
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BO CO THNG NIN
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KIM TON NI B
m 2009, NHNN trin khai kh ton din trn cc mt hot ng theo hng tip tc i mi hot ng kim ton ph hp vi thng l quc t v yu cu thc tin ca Vit Nam. NHNN thc hin kim ton bo co ti chnh ti 29 n v thuc NHNN (06 n v V, Cc v 23 NHNN chi nhnh tnh, thnh ph); kim ton tun th v hot ng ti 20 n v (09 n v V, Cc v 11 NHNN chi nhnh tnh, thnh ph); kim ton 10 d n u t xy dng (07 d n c Thng c ph duyt quyt ton v 03 d n hon thnh ang trnh Thng c ph duyt quyt ton); kim ton tin hc ti 13 n v NHNN (03 n v V, Cc; 10 n v NHNN chi nhnh tnh, thnh ph); kt hp kim ton bo co ti chnh v kim ton tun th, hot ng ti cc n v NHNN chi nhnh tnh, thnh ph, tin hnh kim ton hot ng kho qu ti 23 n v NHNN chi nhnh tnh, thnh ph c qun l kho tin.
Nt ni bt trong vic ch o, iu hnh thc hin k hoch kim ton nm 2009 c s i mi ngay t khu lp k hoch, chun b cng v qu trnh thc hin kim ton. Kt qu kim ton phn tch, nh gi c nhng im mnh, tch cc v cng ch ra nhng im tn ti, nhng tim n ri ro trong hot ng; nhng vng mc trong qu trnh thc hin c ch, chnh sch hin hnh. Trn c s , kim ton ni b kin ngh cc n v chnh sa kp thi, ng vai tr thc s l cng c h tr c lc cho cng tc ch o, iu hnh ca NHNN, gp phn hon thnh tt nhim v chnh tr ca NHNN.
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CNG TC PHP CH
Cng tc xy dng php lut
xy dng cc d Lut: Nm 2009, NHNN ch tr son tho, xy dng hai d n Lut Ngn hng Nh nc Vit Nam v Lut Cc T chc tn dng, hon thin khun kh php l i vi hot ng ngn hng vi mc tiu nhm nng cao vai tr trch nhim v tnh ch ng ca NHNN trong thc thi chnh sch tin t v qun l, gim st hot ng ca h thng ngn hng, to mi trng kinh doanh lnh mnh, bnh ng cho cc TCTD, nng cao nng lc qun tr, iu hnh ca cc TCTD. D kin hai d n Lut s c xem xt, thng qua ti k hp th 7 Quc hi Kho XII. V xy dng cc Ngh nh: NHNN ch tr son tho, trnh Chnh ph k ban hnh 04 Ngh nh trong Chng trnh xy dng Ngh nh ca Chnh ph nm 2009 lin quan n iu hnh chnh sch tin t v hot ng ngn hng: (i) t chc v hot ng ca Ngn hng thng mi;(ii) quy nh p dng Lut Ph sn i vi cc t chc tn dng; (iii) hot ng thng tin tn dng; (iv) chnh sch tn dng phc v pht trin nng nghip, nng thn. V xy dng cc vn bn quy phm php lut thuc thm quyn ca Thng c Ngn hng Nh nc: Nm 2009, NHNN ban hnh 27 Thng t v cc Quyt nh ca Thng c v iu hnh chnh sch tin t v hot ng ca NHNN. Tin hnh r sot v h thng ho cc vn bn quy phm php lut do NHNN ban hnh trong nm 2009 m bo cc vn bn ban hnh ng cn c php l, ng quy trnh th tc. ng thi tin hnh kim tra vn bn do cc B, BO CO THNG NIN
C quan ngang B, Hi ng nhn dn, y ban nhn dn ban hnh c ni dung thuc lnh vc qun l Nh nc ca NHNN gi ti NHNN kim tra v kin ngh c quan son tho, ban hnh chnh sa.
Cng tc ph bin tuyn truyn php lut

Cng tc ph bin gio dc php lut ti NHNN gp phn a cc chnh sch ca ng v Nh nc nhanh chng i vo cuc sng, tc ng tch cc n i sng x hi; ng ti cc vn bn quy phm php lut do Chnh ph, Quc hi ban hnh lin quan n hot ng tin t, ngn hng, cc vn bn quy phm php lut do Thng c NHNN ban hnh; ng ti cng gii thiu cc Lut lin quan n hot ng ngn hng, cn b cng chc ca NHNN. Ngoi ra, to iu kin cho c nhn v c quan c tip cn sm vi cc d tho vn bn quy phm php lut ngay t giai on xy dng, NHNN cn ch trng n vic ng ti cc d tho Lut, Ngh nh do NHNN ch tr son tho nh d tho Lut Ngn hng Nh nc Vit Nam v Lut Cc T chc tn dng, cc Ngh nh ca Chnh ph trn trang thng tin in t ca NHNN. Tip tc xy dng v pht trin h thng i thoi doanh nghip, ng dy nng tr li thc mc ca t chc, c nhn ti Vn phng NHNN v Chi nhnh cc tnh, thnh ph gii p kp thi cc vng mc trong qu trnh thc hin hot ng ngn hng, c bit l trong vic thc hin cc chnh sch v h tr li sut. Phi hp vi cc t chc quc t, Vn phng Quc hi, B T php t chc cc hi tho chuyn , to NGN HNG NH NC VIETNAM
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m v hai Lut Ngn hng nhm gip cho qu trnh hon thin ni dung ca d tho hai Lut. Thc hin hot ng t vn php lut cho cc i tng l cc n v thuc NHNN, cc TCTD x l cc vn v php lut Ngn hng, h tr gii p php l doanh nghip, t vn h s cp php, t vn php lut quc t.
Sc, Ucraina, Belarus v pht hnh kin php l i vi mt s hip nh, tho thun a phng v song phng cng nh trin khai mt s Hip nh trong h thng ngn hng. NHNN cng tch cc tham gia vic r sot thc hin cc cam kt v tha thun quc t; r sot v xut danh mc cc cam kt gia nhp WTO p dng trc tip.
Cng tc php lut quc t

NHNN tham gia gp cc vn bn lin quan n vic trao i thng tin thanh tra, gim st ngn hng vi Ngn hng trung ng cc nc nh c, Php, Thi Lan,
BO CO THNG NIN
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HOT NG I NGOI
gp phn vo n lc chung trong vic phng chng suy gim kinh t v i ph vi nhng tc ng tiu cc ca cuc khng hong ti chnh v suy thoi kinh t ton cu, thc y qu trnh hi nhp v nng cao v th ca Vit Nam trn trng quc t, nm 2009, NHNN tip tc tng cng hp tc vi cc t chc ti chnh tin t quc t thng qua i thoi chnh sch v huy ng h tr c v ti chnh v k thut. Trong quan h vi IMF, NHNN tch cc hp tc v t vn chnh sch, h tr k thut v o to cho Vit Nam nng cao nng lc, trnh cn b. ng thi NHNN ch ng, tch cc v thng xuyn i thoi chnh sch vi IMF nhm cung cp thng tin, lm r cc nh hng, ch trng, chnh sch ca Nh nc gp phn cng c lng tin ca cng chng v cc nh u t vo nh hng chnh sch v n nh kinh t v m ca Vit Nam. Nm 2009, Vit Nam c phn b tng cng hn 267 triu SDR trong khun kh hai t phn b SDR ca IMF nhm tng d tr ngoi hi cho cc nc hi vin. NHNN m phn, k kt thnh cng vi WB v ADB tng cng 20 chng trnh/ d n vi tng tr gi 3,8 t USD (cao hn nhiu so vi tng tr gi gn 2 t USD ca nm 2008). Trong quan h vi WB, bn cnh vic tip tc l mt trong nhng nc vay u i ln nht t ngun IDA, Vit Nam bc u tip cn vi ngun vn vay IBRD ca WB. m phn thnh cng vi WB khon vay ln th nht Chng trnh Ci cch u t cng (PIR) tr gi 500 triu USD, nm trong Khon vay Chnh sch Pht trin BO CO THNG NIN
Chng trnh Ci cch u t cng c tng tr gi 1 t USD nhm mc tiu h tr Chnh ph tip tc cc n lc ci thin cht lng v hiu qu hot ng u t, c bit l u t cng Vit Nam. Trong quan h vi ADB, NHNN phi hp vi cc B, Ngnh m phn thnh cng Khon vay h tr khc phc tc ng khng hong (CSF) tr gi 500 triu USD h tr Vit Nam khc phc nh hng khng hong ti chnh ton cu. V quan h hp tc song phng, NHNN k vn bn hp tc trao i thng tin thanh tra gim st ngn hng vi 12 c quan qun l ngn hng cc nc v vng lnh th v nhiu tha thun hp tc song phng vi cc i tc nh Nga, Belarus, M. Bn cnh , NHNN tip tc trin khai hiu qu cc chng trnh hp tc do cc i tc nh ATTF, JICA, CIDA, NHTW Thy in ti tr nhm tng cng nng lc cho NHNN v ci cch khu vc ngn hng, cng nh cc hot ng trong khun kh T Cng tc Vit-Nga. Ngoi ra, NHNN trao i v lm vic vi nhiu on ca cc c quan Chnh ph, NHTW, cc t chc tn dng v ti chnh ca nhiu quc gia trn th gii, qua lm cho cc i tc hiu r v cc c ch, chnh sch pht trin kinh t, hot ng ca h thng ngn hng Vit Nam, cng c lng tin ca nh u t nc ngoi vo Vit Nam. Trong quan h vi khu vc ASEAN: NHNN tip tc m rng quan h hp tc trong khun kh ASEAN thng qua vic tham gia cc Hi ngh cp cao v cuc hp cp k thut v hp tc ti chnh tin t nhm mc NGN HNG NH NC VIETNAM
37
tiu xy dng mt cng ng kinh t ASEAN cng pht trin. Trong khun kh hp tc ti chnh tin t ASEAN+3, NHNN tham gia vo tin trnh a phng ho Sng kin Ching Mai (CMIM), sng kin hp tc tin t quan trng ca khu vc nhm h tr kh khn tm thi trong cn cn thanh ton ca cc nc thnh vin vi tng quy m ca qu h tr l 120 t USD. Trong hi nhp quc t ngnh ngn hng, NHNN phi hp vi cc B, Ngnh thc hin nhng cam kt gia nhp WTO lin quan n vic thit lp hin din thng mi ca cc TCTD nc ngoi ti Vit Nam. Bn cnh , NHNN cng tch cc tham gia cc hot ng hp tc ca SEACEN, ch ng xy dng v thc hin K hoch hnh ng quc gia (IAP) trong lnh vc ngn hng trong khun kh hp tc APEC. Giai on 2008 - 2009 nh du bc tin quan trng ca NHNN trong vic nng cao v th ca Vit Nam ni chung v NHNN
ni ring trong cng ng ti chnh tin t quc t. Cui nm 2008, s kin Thng c NHNN Nguyn Vn Giu c ton th Thng c cc nc thnh vin IMF/WB bu gi chc Ch tch Hi ng Thng c IMF/WB nhim k 2008-2009 th hin s ghi nhn v nh gi cao ca cng ng ti chnh tin t quc t i vi nhng thnh tu m Vit Nam t c trong cng cuc pht trin kinh t x hi, cng nh s tn nhim i vi uy tn v v th ca Vit nam trong cng ng quc t. Nm 2009, Thng c NHNN hon thnh xut sc vai tr Ch tch Hi ng Thng c IMF/WB, c bit l ch tr thnh cng phin hp ton th ca Hi ng Thng c ti Hi ngh thng nin IMF/WB t chc ti Th Nh K thng 10/2009.
BO CO THNG NIN
38
T CHC CN B
V cng tc t chc
rin khai thc hin Quyt nh s 112/2006/Q-TTg ca Th tng Chnh ph ph duyt n pht trin ngnh Ngn hng Vit Nam n nm 2010 v nh hng n nm 2020, NHNN tch cc i mi t chc v hot ng ca theo hng t chc b my tinh gn, chuyn nghip vi trng tm l thc hin chc nng ca ngn hng trung ng trong nn kinh t th trng nh hng x hi ch ngha; m bo ngun lc, nng lc xy dng v thc hin chc nng qun l Nh nc trong lnh vc tin t, tn dng, ngn hng v nng cao nng lc gim st hot ng ca h thng ngn hng. NHNN tch cc phi hp vi cc n v lin quan nghin cu, hon thnh trnh Chnh ph ban hnh Ngh nh 96/2008/NCP quy nh chc nng, nhim v, quyn hn v c cu t chc ca Ngn hng Nh nc Vit Nam v Quyt nh s 83/2009/ Q-TTg quy nh chc nng, nhim v, quyn hn v c cu t chc ca C quan Thanh tra gim st ngn hng, trong : Ti tr s NHNN, hnh thnh mi nhng n v cn thit, ng thi iu chnh chc nng, nhim v ca cc V, Cc trnh s trng lp, chng cho, phn tn hoc b trng nhim v; tp trung qun l, iu hnh, nng cao nng lc nghin cu, phn tch, d bo v tnh chuyn mn ho ca cc n v; xc nh r chc nng, nhim v v quan h phi hp gia cc n v. Theo Quyt nh 83/2009/Q-TTg ca Th tng Chnh ph, b my t chc v hot ng ca C quan Thanh tra, gim st ngn hng c thit lp theo hng BO CO THNG NIN
nng cao tnh c lp, thng nht v hot ng nghip v v ch o, iu hnh; t nn mng v tng bc thc hin ng cc nguyn tc, chun mc quc t v gim st ngn hng, p ng yu cu thc tin pht trin h thng ngn hng Vit Nam, gp phn bo m s an ton, n nh ca h thng cc TCTD v chp hnh nghim minh php lut v tin t, hot ng ngn hng, bo v li ch ca cng chng. V mng li Chi nhnh, theo Quyt nh s 2989/Q-NHNN ngy 14/12/2009 ca Thng c NHNN, b my t chc c c cu li theo hng tp trung v khng p dng ng nht mt c cu t chc v chc nng, nhim v i vi tt c cc chi nhnh NHNN. NHNN Chi nhnh Thnh ph H Ni v Thnh ph H Ch Minh c thit k ph hp vi tnh cht, quy m pht trin kinh t ca khu vc nhm tng cng cng tc gim st, gp phn bo m s an ton, n nh ca h thng cc TCTD trn a bn.
ng dng cng ngh v phng php qun tr nhn s mi

Xy dng thnh cng v a vo ng dng h thng thng tin qun l ngun nhn lc (HRMIS); Theo , kho d liu v cn b cng chc c t chc lu gi tp trung, cp nht v khai thc phn tn trn c s phn cp y quyn qun l ca Thng c. Mc d mi ch l thnh cng bc u nhng h thng tr gip c lc cho cng tc cn b ca V T chc cn b cng nh cc n v, c bit l khi NHNN chi nhnh cc tnh, thnh ph c phn cp nhiu v cng tc cn b. i mi cng tc qun tr nhn s; tng NGN HNG NH NC VIETNAM
39
bc p dng phng php qun tr mi thng qua s v tr vic lm v bn m t cng vic, lm c s quan trng gip V T chc cn b v cc n v trong cng tc cn b hoch nh ngun nhn lc, xc nh
bin ch, tuyn dng cn b cho cc n v; phn tch, nh gi tnh hp l trong phn cng lao ng, trn c s sp xp, b tr lao ng v hoch nh chin lc o to.
C cu cn b theo tui v trnh o to
BO CO THNG NIN
40
PH LC
BO CO THNG NIN
41
PH LC 1 CC MC LI SUT DO NHNN CNG B NM 2009 n v tnh: %/nm Thi gian Thng 12/2008 Thng 1/2009 Thng 2/2009 Thng 3/2009 T 1-9/4/2009 T 10-30/4/2009 Thng 5/2009 Thng 6/2009 Thng 7/2009 Thng 8/2009 Thng 9/2009 Thng 10/2009 Thng 11/2009 Thng 12/2009 Li sut c bn 8,5 8,5 7 7 7 7 7 7 7 7 7 7 7 8 Li sut ti cp vn 9,5 9,5 8 8 8 7 7 7 7 7 7 7 7 8 Li sut ti chit khu 7,5 7,5 6 6 6 5 5 5 5 5 5 5 5 6
Ngun s liu: Ngn hng Nh nc Vit Nam
BO CO THNG NIN
42
PH LC 2 HOT NG NGHIP V TH TRNG M 2009 Ch tiu S phin K hn (ngy) S lt thnh vin Doanh s t thu (t ng) Doanh s trng thu (t ng) Li sut (%/nm): - Phng thc u thu khi lng - Phng thc u thu li sut Ngun s liu: Ngn hng Nh nc Vit Nam 6,5-9,0 7,2-7,8 3.085 3.613.860 961.773 406 102 261 7;14 Cho mua Cho bn 68 91;182 11
BO CO THNG NIN
43
PH LC 3 T L D TR BT BUC 2008-2009 n v tnh: % Thi gian Di 12 thng T 12 thng tr ln Di 12 thng T 12 thng tr ln Di 12 thng T 12 thng tr ln Di 12 thng Ngoi t T 12 thng tr ln Di 12 thng T 12 thng tr ln Di 12 thng T 12 thng tr ln 12-2008 3 1 6 2 6 2 7 01-2009 2 1 6 2 5 1 7 03-2009 1 1 6 2 3 1 7 12-2009 1 1 6 2 3 1 7
VND Ngn hng Nng nghip v Pht trin nng thn Vit Nam Ngoi t
NHTM Nh nc, NHTM c phn, Chi nhnh nc ngoi, Ngn hng 100% vn nc ngoi, NH lin doanh, Cng ty TC v cho thu ti chnh.
VND
1 1 6 2
1 1 6 2
1 1 6 2
1 1 6 2
VND NHTM c phn nng thn, hp tc, Qy tn dng nhn dn TW Ngoi t
BO CO THNG NIN
44
PH LC 4 CN CN THANH TON 2007 -7.092 -10.438 48.561 58.999 62.765 -894 6.030 6.924 6.430 6.180 250 -2.190 1.166 3.356 17.730 6.516 6.700 184 2.269 3.640 1.371 1.371 79 1.404 1.325 1.325 6.243 2.623 -439 10.199 -10.199 -10.199 -10.180 -19 0 19 0 0 0 n v: triu USD 2008 2009 -10.787 -7.440 -12.782 -8.306 62.685 57.096 75.467 65.402 80.713 69.949 -915 -1.129 7.041 5.766 7.956 6.895 7.311 6.527 6.804 6.018 507 509 -4.401 -4.532 1.357 752 5.758 5.284 12.341 9.279 9.579 8.960 619 300 992 2.441 1.449 1.449 1.971 11.414 9.443 9.443 -578 677 -1.081 473 -473 -473 -434 -39 0 39 0 0 0 11.452 6.900 7.600 6.369 1.231 700 4.473 6.140 1.667 1.667 256 5.588 5.332 5.332 128 -305 -12.178 -8.166 8.166 8.166 8.204 -38 0 38 0 0 0
A. TI KHON VNG LAI 1. Cn cn thng mi Xut khu (FOB) Nhp Khu (FOB) Nhp Khu (CIF) 2. Dch v (rng) Thu Chi 3. Chuyn tin (rng) T nhn (rng) Nh nc (rng) 4. Thu nhp t u t (rng) Thu Chi B. TI KHON VN V TI CHNH 5. u t trc tip u t trc tip vo Vit Nam Ti sn Vn vay u t trc tip ca Vit Nam ra nc ngoi 6. Vay tr n trung v di hn Vay N gc n hn tr (s thc thanh ton) 7. Vay tr n ngn hn Vay N gc n hn tr (s thc thanh ton) 8. u t giy t c gi 9. Tin v tin gi C. LI V SAI ST D. CN CN TNG TH (=-E) E. TI TR 10. Thay i ti sn c nc ngoi rng (-;incr) Thay i NIR (-;incr) Tn dng ca IMF Mua Mua li 11. Thay i v chm tr n v c cu li n Thay i v chm tr n C cu li n Ngun s liu: Ngn hng Nh nc Vit Nam
BO CO THNG NIN
45
PH LC 5 MT S CH TIU TIN T, TN DNG S tuyt i n v: T ng 2008 Tng phng tin thanh ton Tng huy ng vn t t chc v c nhn trong nc Tng d n tn dng 1.622,130 1.385.282 1.275.048 Q1/09 1.748.226 1.467.599 1.351.631 Q2/09 1.907.523 1.629.408 1.531.107 Q3/09 1.986.084 1.710.090 1.667.854 Q4/09 2.092.447 1.799.222 1.753.600
Tc tng trng so vi cng k nm trc (%) 2008 Tng phng tin thanh ton Tng huy ng vn t t chc v c nhn trong nc Tng d n tn dng 20,3 22,8 23,4 Q1/09 25,0 24,9 15,9 Q2/09 35,8 34,6 26,1 Q3/09 36,1 33,6 37,3 Q4/09 29,0 29,9 37,5
BO CO THNG NIN
46
PH LC 6 T GI GIA LA M V NG VIT NAM NM 2009 n v tnh: ng/USD T gi ngy cui thng Thi gian T gi bnh qun trn th trng ngoi t lin ngn hng 16.975 16.971 16.954 16.937 16.938 16.953 16.967 16.974 16.991 17.011 17.956 17.941 Ngn hng ngoi thng Vit Nam Mua 17.475 17.480 17.720 17.784 17.783 17.801 17.815 17.823 17.841 17.862 18.485 18.465 Bn 17.484 17.480 17.802 17.784 17.785 17.801 17.815 17.823 17.841 17.862 18.495 18.479 T gi bnh qun trong thng T gi bnh qun trn th trng ngoi t lin ngn hng 16.973 16.976 16.973 16.938 16.938 16.949 16.961 16.968 16.985 17.002 17.155 17.942 Ngn hng ngoi thng Vit Nam Mua 17.458 17.484 17.541 17.773 17.784 17.795 17.809 17.816 17.834 17.852 17.959 18.471 Bn 17.482 17.485 17.572 17.785 17.785 17.796 17,809 17.816 17.834 17.852 17.960 18.480
Thng 1 Thng 2 Thng 3 Thng 4 Thng 5 Thng 6 Thng 7 Thng 8 Thng 9 Thng 10 Thng 11 Thng 12
BO CO THNG NIN
47
PH LC 7 GI VNG TH TRNG TRONG NC 2009 n v: Nghn ng/ch Thi gian Thng 1 Thng 2 Thng 3 Thng 4 Thng 5 Thng 6 Thng 7 Thng 8 Thng 9 Thng 10 Thng 11 Thng 12 Gi ngy cui thng Mua vo 1.815 1.950 1.960 1.944 2.063 2.079 2.088 2.109 2.190 2.368 2.770 2.605 Bn ra 1.847 1.970 1.985 1.967 2.083 2.099 2.105 2.126 2.210 2.388 2.805 2.650 Gi trung bnh thng Mua vo 1.756 1.900 1.933 1.950 2.005 2.086 2.076 2.107 2.183 2.317 2.619 2.683 Bn ra 1.778 1.922 1.963 1.968 2.025 2.108 2.094 2.124 2.201 2.335 2.660 2.718
BO CO THNG NIN
48
PH LC 8 CH S GI TIU DNG n v tnh: % Thng 10 Thng 12

8,4 0,8 8,4 6,6 0,5 6,6 12,6 2,9 12,6 19,9 -0,7 19,9 6,52 1,38 6,52
Nm
Thi gian
So vi thng 12 nm trc 2005 So vi thng trc So vi cng k So vi thng 12 nm trc 2006 So vi thng trc So vi cng k So vi thng 12 nm trc 2007 So vi thng trc So vi cng k So vi thng 12 nm trc 2008 So vi thng trc So vi cng k So vi thng 12 nm trc 2009 So vi thng trc So vi cng k
1,1 1,1 9,7 1,2 1,2 8,8 1,1 1,1 6,5 2,4 2,4 14,1 0,32 0,32 17,48
3,6 2,5 9,1 3,3 2,1 8,4 3,2 2,2 6,5 6,0 3,6 15,7 1,49 1,17 14,78
3,7 0,1 8,4 2,8 -0,5 7,7 3,0 -0,2 6,8 9,2 3,0 19,4 1,32 -0,17 11,25
4,3 0,6 8,5 3,0 0,2 7,4 3,5 0,5 7,2 11,6 2,2 21,4 1,68 0,35 9,23
4,8 0,5 8,1 3,6 0,6 7,5 4,3 0,8 7,3 16,0 3,9 25,2 2,12 0,44 5,58
5,2 0,4 7,6 4,0 0,4 7,6 5,2 0,8 7,8 18,4 2,1 26,8 2,68 0,55 3,94
5,6 0,4 7,5 4,4 0,4 7,5 6,2 0,9 8,4 19,8 1,1 27,0 3,22 0,52 3,31
6,0 0,4 7,3 4,8 0,4 7,5 6,8 0,5 8,6 21,7 1,6 28,3 3,47 0,24 1,97
6,8 0,8 7,8 5,1 0,3 6,9 7,3 0,5 8,8 21,9 0,2 27,9 4,11 0,62 2,42
7,2 0,4 8,3 5,4 0,2 6,7 8,1 0,7 9,3 21,6 -0,2 26,7 4,49 0,37 2,99
7,6 0,4 8,5 6,0 0,6 6,9 9,5 1,2 10,0 20,7 -0,8 24,2 5,07 0,55 4,35
Ngun s liu: Tng cc Thng k
BO CO THNG NIN
Thng 11
Thng 1
Thng 2
Thng 3
Thng 4
Thng 5
Thng 6
Thng 7
Thng 8
Thng 9
49
PH LC 9 TNG SN PHM TRONG NC (GDP), 1999-2009 Nm 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 GDP theo gi so snh 1994 (t ng) 256.272 273.666 292.535 313.247 336.242 362.435 393.031 425.373 461.443 490.181 515.909 GDP theo gi hin hnh (t ng) 399.942 441.646 481.295 535.762 613.443 715.307 839.211 974.266 1.144.015 1.478.695 1.645.481 Mc tng trng GDP (%) 5,76 6,79 6,84 7,08 7,34 7,79 8,44 8,23 8,48 6,18 5, 32
Ngun s liu: Tng cc Thng k.
BO CO THNG NIN
50
APPENDIX 9
GROSS DOMESTIC PRODUCT (GDP), 1999-2009 Year 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 GDP at constant price (VND billion) 256,272 273,666 292,535 313,247 336,242 362,435 393,031 425,373 461,443 490,181 515,909 GDP at current price (VND billion) 399,942 441,646 481,295 535,762 613,443 715,307 839,211 974,266 1,144,015 1,478,695 1,645,481 GDP growth rate (%) 5.76 6.79 6.84 7.08 7.34 7.79 8.44 8.23 8.48 6.18 5.32
Source: General Statistics Ofce (GSO)
ANNUAL REPORT 2009
50
STATE BANK OF VIETNAM
APPENDIX 8 CONSUMER PRICE INDEX (CPI) Unit: %
SEPTEMBER
NOVEMBER
7.6 0.4 8.5 6.0 0.6 6.9 9.5 1.2 10.0 20.7 -0.8 24.2 5.07 0.55 4.35
YEAR
TIME
2005
Compare to last December Compare to last month Year on year Compare to last December Compare to last month Year on year Compare to last December Compare to last month Year on year Compare to last December Compare to last month Year on year
1.1 1.1 9.7 1.2 1.2 8.8 1.1 1.1 6.5 2.4 2.4 14.1
3.6 2.5 9.1 3.3 2.1 8.4 3.2 2.2 6.5 6.0 3.6 15.7 1.49 1.17 14.78
3.7 0.1 8.4 2.8 -0.5 7.7 3.0 -0.2 6.8 9.2 3.0 19.4 1.32 -0.17 11.3
4.3 0.6 8.5 3.0 0.2 7.4 3.5 0.5 7.2 11.6 2.2 21.4 1.68 0.35 9.23
4.8 0.5 8.1 3.6 0.6 7.5 4.3 0.8 7.3 16.0 3.9 25.2 2.12 0.44 5.58
5.2 0.4 7.6 4.0 0.4 7.6 5.2 0.8 7.8 18.4 2.1 26.8 2.68 0.55 3.94
5.6 0.4 7.5 4.4 0.4 7.5 6.2 0.9 8.4 19.8 1.1 27.0 3.22 0.52 3.31
6.0 0.4 7.3 4.8 0.4 7.5 6.8 0.5 8.6 21.7 1.6 28.3 3.47 0.24 1.97
6.8 0.8 7.8 5.1 0.3 6.9 7.3 0.5 8.8 21.9 0.2 27.9 4.11 0.62 2.42
7.2 0.4 8.3 5.4 0.2 6.7 8.1 0.7 9.3 21.6 -0.2 26.7 4.49 0.37 2.99
8.4 0.8 8.4 6.6 0.5 6.6 12.6 2.9 12.6 19.9 -0.7 19.9 6.52 1.38 6.52
2006
2007
2008
2009
Compare to 0.32 last December Compare to 0.32 last month Year on year
17.5
Source: General Statistics Ofce (GSO)
ANNUAL REPORT 2009
DECEMBER
OCTORBER
FEBRUARY
JANUARY
AUGUST
MARCH
APRIL
JUNE
JULY
MAY
49
APPENDIX 7 DOMESTIC MARKET GOLD PRICE IN 2009 Unit: 1000 VND/Tael End of month Period Buying Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 1,815 1,950 1,960 1,944 2,063 2,079 2,088 2,109 2,190 2,368 2,770 2,605 Selling 1,847 1,970 1,985 1,967 2,083 2,099 2,105 2,126 2,210 2,388 2,805 2,650 Buying 1,756 1,900 1,933 1,950 2,005 2,086 2,076 2,107 2,183 2,317 2,619 2,683 Selling 1,778 1,922 1,963 1,968 2,025 2,108 2,094 2,124 2,201 2,335 2,660 2,718 Monthly average
Source: State Bank of Vietnam
ANNUAL REPORT 2009
48
APPENDIX 6 EXCHANGE RATE BETWEEN VND USD IN 2009 Unit: VND/USD End of Month Period Interbank average exchange rate 16,975 16,971 16,954 16,937 16,938 16,953 16,967 16,974 16,991 17,011 17,956 17,941 Vietcombank Buying 17,475 17,480 17,720 17,784 17,783 17,801 17,815 17,823 17,841 17,862 18,485 18,465 Selling 17,484 17,480 17,802 17,784 17,785 17,801 17,815 17,823 17,841 17,862 18,495 18,479 Monthly average Interbank average exchange rate 16,973 16,976 16,973 16,938 16,938 16,949 16,961 16,968 16,985 17,002 17,155 17,942 Vietcombank Buying 17,458 17,484 17,541 17,773 17,784 17,795 17,809 17,816 17,834 17,852 17,959 18,471 Selling 17,482 17,485 17,572 17,785 17,785 17,796 17,809 17,816 17,834 17,852 17,960 18,480
Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09
ANNUAL REPORT 2009
47
APPENDIX 5 Monetary Indicators Unit : Billion VND 2008 Total Liquidity Capital mobilization from the economy Credit to the economy 1,622,130 Q1/09 1,748,226 Q2/09 1,907,523 Q3/09 1,986,084 Q4/09 2,092,447
1,385,282
1,467,599
1,629,408
1,710,090
1,799,222 1,753,600
1,275,048
1,351,631
1,531,107
1,667,854
Year on year growth rate (%)
2008
Q1/09
Q2/09
Q3/09
Q4/09
Total Liquidity Capital mobilization from the economy
20.3
25.0
35.8
36.1
29.0
22.8
24.9
34.6
33.6
29.9
Credit to the economy Source: State Bank of Vietnam
23.4
15.9
26.1
37.3
37.5
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APPENDIX 4 BALANCE OF PAYMENTS Unit: million of USD A. CURRENT ACCOUNT 1. Trade balance Exports (FOB) Imports (FOB) Imports (CIF) 2. Non factor services(Net) Receipts Payments 3. Transfers(Net) Private transfers(Net) Offcial transfers(Net) 4. Investment income (Net) Receipts Payments B. FINANCIAL AND CAPPITAL ACCOUNT 5. Foreign Direct Invesment FDI in Viet Nam Equity Loans Viet Nams FDI abroad 6. Medium and long term loans Disbursments Scheduled Amortization (Actual payments) 7. Short term loans Disbursments Scheduled Amortization (Actual payments) 8. Portfolio 9. Money and deposits C. ERRORS AND OMISSIONS D. OVERALL BALANCE (=-E) E. FINANCING 10. Change in NFA (-;incr) Change in NIR (-;incr) Use of IMF credit Purchases Repurchases 11. Change in arrears and rescheduling Change in arrears Rescheduling Source: State Bank of Vietnam 2007 -7,092 -10,438 48,561 58,999 62,765 -894 6,030 6,924 6,430 6,180 250 -2,190 1166 3,356 17,730 6,516 6,700 184 2,269 3,640 1,371 1,371 79 1,404 1,325 1,325 6,243 2,623 -439 10,199 -10,199 -10,199 -10180 -19 0 19 0 0 0 2008 -10,787 -12,782 62,685 75,467 80,713 -915 7,041 7,956 7,311 6,804 507 -4,401 1357 5,758 12,341 9,279 9,579 8,960 619 300 992 2,441 1,449 1,449 1,971 11,414 9,443 9,443 -578 677 -1,081 473 -473 -473 -434 -39 0 39 0 0 0 2009 -7,440 -8,306 5,710 65,402 69,949 -1,129 5,766 6,895 6,527 6,018 509 -4,532 752 5,284 11,452 6,900 7,600 6,369 1,231 700 4,473 6,140 1,667 1,667 256 5,588 5,332 5,332 128 -305 -12,178 -8,166 8,166 8,166 8,204 -38 0 38 0 0 0
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APPENDIX 3 RESERVE REQUIREMENT RATIONS Unit: % Period Vietnam Bank for Agriculture and rural Development VND Foreign currency VND State-owned commercial banks, urban joint-stock commercial banks, branch of foreign banks, nance companies <12 months > 12 months <12 months > 12 months <12 months > 12 months <12 months 12-2008 3 1 6 2 6 2 7 01-2009 2 1 6 2 5 1 7 03-2009 1 1 6 2 3 1 7 12-2009 1 1 6 2 3 1 7
Foreign currency > 12 months 3 3 3 3
Rural Joint stock commercial banks, cooperative banks, Central Peoples Credit Fund
VND
<12 months > 12 months <12 months
1 1 6 2
1 1 6 2
1 1 6 2
1 1 6 2
Foreign currency
> 12 months
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APPENDIX 2 OPEN MARKET OPERATIONS IN 2009 INDICATOR Number of sessions Maturities (days) Batch of participants Bid volume (VND billion) Bid winning volume (VND billion) Interest rate (%/year): - Uniform interest rate-based - Volume-based Source: State Bank of Vietnam 6.5-9.0 7.2-7.8 3,085 3,613,860 961,773 406 102 261 7;14 BUYING SELLING 68 91;182 11
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APPENDIX 1 Interest rates of State Bank of Vienam Unit: %/year Period Dec-08 Jan-09 Feb-09 Mar-09 1st - 9th Apr 09 10th - 30th Apr 09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Source: State Bank of Vietnam Base interest rate 8.5 8.5 7 7 7 7 7 7 7 7 7 7 7 8 Renancing interest rate 9.5 9.5 8 8 8 7 7 7 7 7 7 7 7 8 Discount interest rate 7.5 7.5 6 6 6 5 5 5 5 5 5 5 5 6
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APPENDIXES
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preliminary step, the system had effectively supported the personnel management of the Personnel Department, as well as other units especially the branches that were assigned with function closely linked with personnel management. The SBV has also reformed the personnel management by gradually appling a new governance methodology of using the position chart and jobs description. This has
created an important background for the Personnel Department and other units in personnel management, including the development of the human resources plan and determination of work force and recruitment, the analysis and assessing of the appropriateness in jop assignment, thus contributing to the allocations of human resources and the development of training strategy.
Human resources structure by ages
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PERSONNEL
Organisational structure
n implementing the Prime Ministers Decision No. 112/2006/Q-TTg approving the Vietnams Banking Sector Development Plan until 2010 and direction into 2020, the SBV has actively reformed its organisation and operations into a streamlined and professional institution, in which the functions of a central bank in a socialism-oriented market economy would be put at the centre, efficient resources and capacity would be ensured for the development and conducting of the state management function in monetary, credit and banking sector, and the capacity for supervision of the banking sector would be enhanced. The SBV has worked closely with relevant agencies to develop and submit for Governments approval and issuance of Resolution No. 96/2008/N-CP regulating functions, tasks, powers and organisational structure of the SBV and Decision No. 83/2009/QTTg regulating functions, tasks, power and organisational structure of the Banking Supervisory Agency, according to which at the SBVs headquarters, only essential units would be added and at the same time functions and tasks of existing departments/units would be revised to avoid overlap, dispersal or gap, and the capacity of building up such tasks as researching analysis, and forecasts as well as the specialisation of each department/units functions would be focused; and functions and tasks of departments/units and the relationship and cooperation between them would be claried. According to the Prime Ministers Decision No. 83/2009/Q-TTg, organisational ANNUAL REPORT 2009
structure and operations of the Banking Supervisory Agency would be designed in the direction of enhancing the independence and uniformity in terms of its professional operations and governance; to set background for the gradual implementation of international rules and standards on banking supervision, for the purpose of meeting the practical demands of the developing Vietnams banking system, thus contributing to ensuring the safety and stability of the credit institution system and the strict observance of rules and regulations on monetary and banking operations, and protecting public interests. In regards to the SBVs network, according to the Governors Decision No. 2989/ Q-NHNN, dated 14/12/2009, the organisational structure would be restructured to consolidate the branch network and no unique organization, function and task would be applied to all SBVs branches. SBVs branches in Hanoi and Hochiminh citys would be designed in line with the economic development features and scale of each city in order to strengthen the supervision, ensuring the safety and stability of the local credit institutions.
Application of new technologies and methodologies on personnel management

The SBV successfully developed and applied the human resources management information system (HRMIS); based on which the personnel database has been centrally stored and updated and used by relevant units according to the decentralised authorization prescribed by the Governor. Despite a STATE BANK OF VIETNAM
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tion under the ASEAN framework through the participation into the Summits and technical meetings on nancial and monetary cooperation which aimed at establishing a jointly-growing ASEAN commumity. Under the framework of ASEAN+3 nancial and monetary cooperation, the SBV participated in Chiang Mai Initiative Multilateralisation (CMIM) an important regional monetary cooperation initiative to support member countries facing temporary difculties in balance of payments with the total funding sources of USD 120 billion. In regards to the international integration of the banking sector, the SBV cooperated with relevant ministries/agencies to implement WTOs commitments relating to the establishment of commercial representative of foreign credit institutions in Vietnam. Besides, the SBV has actively joined in the SEACENs cooperation activities, and pioneered in developing and implementing the Initial Action Plan (IAP) in the banking sector under the framework of APEC cooperation.
The period between 2008 and 2009 marked an important achievement of the SBV in enhancing the voice of Vietnam in general, and of the SBV in particular in international nancial and monetary community. At the end of 2008, Governor Nguyen Van Giau was appointed by all Governors of IMF/WB member countries as Chairman of IMF/WB Board of Governors for the period of 2008-2009, which showed the international monetary and nancial communitys acknowledgement and appreciation of Vietnams achievements in the course of social economic development, as well as the country creditworthiness and position in international community. In 2009, the Governor fullled successfully his chairmanship at the IMF/WB Board of Governors, especially his remarkably success in chairing the plenary session of the Board of Governors during the IMF/WB Annual Meetings held in Istanbul, Turkey in October 2009.
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INTERNATIONAL COOPERATION
n a joined effort to prevent economic slowdown and to cope with negative impacts of the global financial crisis and economic recession, and in order to accelerate the integration process and improve Vietnams position in the international arena, in 2009, the SBV enhanced the cooperation with international financial and monetary organizations via the channels of policy dialogues, financial supports and technical assistances. In regard to the relation with the IMF, the SBV actively cooperated in the elds of policy consultation, technical assistances and training in order to improve the capacity and skills of Vietnams staffs. Besides, the SBV held policy dialogues with the IMF in an active, regular and positive manner to provide information, to clarify the States directions and policies, and at the same time, to call for supports and policy consultation on policy measures aiming at overcoming crisis impacts, contributing to the enhancement of the publics and investors condence in Vietnam policy directions and macroeconomic stability. In 2009, Vietnam was allocated a total of more than SDR 267 million under the IMFs two SDR allocations aiming at increasing foreign reserves of member countries. In 2009, the SBV successfully negotiated and signed with the WB and ADB agreements for 20 programs/projects totaling around USD 3.8 billion (much higher than the total value of USD 2 billion in 2008). Specically, in regard to the relation with the WB, while continued to be one of biggest concessional borrowers from the IDA, Vietnam had gradually accessed to the WBs IBRD resource. Accordingly, the SBV, in cooperation with relevant ministries and ANNUAL REPORT 2009
agencies, successfully negotiated with the WB the First Loan of the Public Investment Reform Program totaling USD 500 million under the IBRD borrowing conditions. This loan belongs to the Development Policy Loan for the Public Investment Reform Program with the total value of USD 1 billion, which aimed at supporting the Government in further improving the quality and efciency of investment, especially public investment in Vietnam. In terms of the relation with the ADB, the SBV, in cooperation with relevant ministries and agencies, successfully negotiated the Loan for Crisis Support Facility (CSF) with the total value of USD 500 million. In bilateral cooperation, the SBV signed cooperation documents for exchange of information on banking inspection and supervision with banking authorities of 12 countries and territories, and bilateral cooperation arrangements with such partners as Russia, Belarus, and the United States. In addition, the SBV continued to effectively implement the cooperation programs sponsored by ATTF, JICA, CIDA, and central bank of Sweden in order to enhance the capacity of the SBV and to reform the banking sector, as well as the activities within the framework of the Vietnam-Russian Working Team. Besides, the SBV met and discussed with delegations of governmental agencies, central banks, and credit and nancial institutions of many countries in the world, hence providing a clearer picture of Vietnams directions and policies for economic and banking sector development, thus enhancing foreign investors condence in Vietnam. In 2009, the SBV widened the cooperaSTATE BANK OF VIETNAM
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environment, licensing documents and international laws.
International Legal Activities

The SBV provided comments on documents relating to the exchange of information on banking inspection and supervision with central banks of such countries as Germany, France, Thailand, Czech, Ukraine and Belarus and issued legal opinions on several multilateral and bilateral agreements and ar-
rangements as well as implemented some agreements in the banking sector. The SBV also actively joined in reviewing the implementation of international commitments and arrangements; and reviewed and proposed lists of WTO accession commitments which were directly applied.
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LEGAL ACTIVITIES
Development of legal document
aw drafting: In 2009, the SBV chaired the development and drafting of two draft laws namely the Law on the SBV of Vietnam and the Law on Credit Institutions in order to improve the legal framework for banking activities, thus enhancing the roles, responsibilities and activeness of the SBV in its management of monetary policies, management and supervision of banking sector, creation of sound and fair business environment for credit institutions, and enhancement of governance capacity of credit institutions. The two draft laws were scheduled to be considered and passed at the 7th session of the XII National Assembly. Development of Decrees: under the Governments 2009 program for Decree Development, the SBV chaired the drafting and submission to the Government for signing and issuance of 4 Decrees in the areas of monetary policy management and banking sector activities, including: (i) organization and operation of commercial banks; (ii) the application of Bankruptcy Law on credit institutions; (iii) credit information activities; (iv) Credit policy for the agricultural and rural development. Development of legal documents within the Governors authority: In 2009, the SBV issued 27 Circulars and Governors Decisions on monetary policy management and SBVs operations. Furthermore, the SBV reviewed and systemized legal documents issued by the SBV in 2009 in order to ensure that they were issued appropriately in terms of legal background, prescribed procedures The SBV also reviewed the ofcial documents issued by other ministries, minANNUAL REPORT 2009
isterial agencies, Peoples Committees and Peoples Councils which covered issues belong to the state management functions of the SBV, and recommended for revision if necessary.
Legal communication
The SBVs promulgation of legal documents contributed to the prompt realization of the Partys and the States policies and brought about positive impacts on the society, for example, the publishment of the legal documents issued issued by the SBV Governor, as well as the summary of the Laws relating to the banking activities and to staffs of the SBV. Furthermore, in order to facilitate individuals and agencies promptly access to legal documents right at the drafting stage, the SBV paid attention to the publishment on the SBVs website of draft laws and decrees of which the SBV chaired the development like the Draft Laws on the SBV and on Credit Institutions and the Governments Resolutions. In further developing and improving the dialogue network with business community, hot lines were set up at the SBVs Ofce and SBVs branches to respond to the questions relating to banking activities, especially the implementation of the interest rate subsidy. The SBV also cooperated with international organizations, National Assemblys Ofce and Ministry of Justice in organizing workshops and conferences on the two banking laws, aiming at improving the two draft laws. In addition, the SBV provided legal consultation to the SBVs subsidiaries and credit institutions to handle the legal issues relating to the banking activities, business legal STATE BANK OF VIETNAM
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INTERNAL AUDIT
n 2009, the SBV furthered the reforms of audit activities in a quite comprehensive manner on all of its operational aspects to bring internal audit in line with international practices and Vietnams practical requirements. The SBV conducted the audit of nancial statements of 29 subsidiaries (including 06 headquarter departments and 23 branches), compliance and operation audits of 20 units (09 departments and 11 branches); audits of 10 construction projects (of which 07 projects settlement reports were approved by the Governor, while those of 03 other completed projects were pending to the Governors approval); IT audits in 13 units (03 departments and 10 branches); audits of both nancial statements and compliance and operation of SBVs branches; and audits of treasury- and vault-related activities in 23 concerned branches.
The highlight in the management and implementation of the 2009 audit plan was the comprehensive reforms right from the stages of planning and outlining to the audit process. The audit result helped to analyze and evaluate strengths as well as shortcomings and potential operational risks, and to point out obstacles in implementing the current mechanisms and policies. Accordingly, internal audit made relevant recommendations for related units to have timely solutions, thus becoming an effective supportive tool for the SBVs management and operations, contributing to the SBVs accomplishment of political mandates.
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Fund, etc. There were nearly 18 mn customer les at CICs database as of December 31, 2009, with the amount of loan outstanding being updated to the database accounted for more than 95% of the economys total loan outstanding. The CIC database, which was designed and built on the background of modern information technology, and was capable of providing real time information via website and the 5-year historical data database, whose input quality was strictly supervised. This was a great advantage for internationalizing Vietnams credit information activities and facilitating the grading and internal credit rating of credit institutions customers.
International Information Exchange

CIC signed and executed information exchange contracts with international information rms to support Vietnams enterprises and credit institutions in their business with foreign partners. Through this channel, CIC discovered some foreign companies that were in weak nancial situation or even closed but fraudulently offered loans in Vietnam, thereby sending warnings to CIs and enterprises to avoid large economic losses.
Credit Information Bulletin

The CICs credit information bulletin was an internal information publication of the banking system, issued 4 editions per month with more than 100,000 copies annually, and contained various referential information on banking and credit activities, new policies on credit, interest rate, and exchange rate, alert information on the credit relationship of borrowers at CIs, etc. In 2009, CIC was preparing to establish a so-called credit watching website to give warnings on CIs and CIs customers, thus allowing users to have a comprehensive picture of borrowers, and helping to prevent and minimize credit risks and at the same time to support the SBVs supervision function over credit institutions to ensure the safety of the banking system.
Provision of information
In 2009, CIC kept improving and introducing diversied product groups, making a considerable contribution to ensuring the safety of the banking system, as well as preventing and minimizing risks in the CIs business, and warranting the equal access to credit for all borrowers. As of 31 December, 2009, CIC signed information supply contracts with over 1000 CIs, CI branches and other institutions having banking activities, covering more than 10,000 users. In 2009, total number of information provision reports was 800,000, twice as many as that of 2008.
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CREDIT INFORMATION
n 2009, the Credit Information Center (CIC) continued to be a reliable information provision channel that supported proactively the SBVs fulfillment of management mandate and the ensurance of the safe and effective credit activities, thus contributing to the stable operation of the banking system. In particular, the World Banks Doing Business Report 2010 continued to post that Vietnams credit information activities had been improved, and the index for
credit information had been maintained, thus upgrading Vietnams getting credit index to level 30 out of the 183 countries surveyed.
Collection of information
CIC collected information of borrowers at all CIs operating under the Law on Credit Institutions and some other organizations that conducted banking activities such as Urban Investment Development Fund, Environment Protection Fund, Credit guarantee
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BANKING TECHNOLOGY AND PAYMENT ACTIVITIES

Modernization of the payment system
n 2009, the second phase inter-bank electronic payment system was completed and put into operation, marking a new stage of the banking payment system with fundamental changes in advanced techniques, technology, processing capacity and modern operational procedures in line with international standard, thus meeting the economys demands for payments of increasing volumes. This was also the opportunity to diversify modern banking services, change the traditional thinking of doing banking business, and improve the efficiency of monetary policy management. The system covered SBVs 63 branches in provinces and cities, 3 SBV subsidiaries, 81 payment services providers and over 700 commercial banks nation-wide branches that processed an average of 40,000 to 44,000 transactions per day, or a daily turnover of VND 70,000 billion. The system was ready to connect to the payment system of the State Treasury and other relevant systems. The electronic clearing system continued to satisfy the local payment demands in provinces and cities in a cost-efcient manner. The daily average transaction volume in 2009 was over 18,000 with the average value of over VND 8,500 billion. For the purpose of promoting the card payment service to meet the current urgent needs, the SBV submitted to the Prime Minister the proposed plan for Developing The Unied Card Switching Center to connect the ATM systems of current card alliances into a unied system across the country, thus increasing the convenience for bank ANNUAL REPORT 2009 card services users, promoting card payment, and contributing to the implementation of the Governments direction of developing non-cash payment.
Modernization of payment facilities and services

In 2009, many new, convenient and user-friendly payment facilities and services, which were developed on the basis of such information technologies as bank card, Internet Along with the issuance of multi-functional card and the investment for new POS at units accepting card payment, commercial banks paid great attention to the safety and security of payment cards. As of end - 2009, there were 46 institutions issuing cards with more than 180 card brand names. The number of cards in circulation reached 21.5 mn or an increase of 54% from end - 2008), surpassing the 2010 plan of 15 million cards. There were more than 9,700 ATM machines, an increase of nearly 27% as compared to 2008) and over 34,000 POS / EDC (up by 36% since 2008). The service of salary payment through bank accounts was strongly promoted, making many positive developments and encouraging results so far. As of end 2009, this service had been provided to 41.5% of state budget covered agencies with 1.44 million staffs, accounting for 46% of the total state budget salary receivers. This service had been widely used by many businesses and organizations.
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Anti-money laundering In 2009, the SBV received, analyzed and resolved suspicious transactions from credit institutions and handed them over to relevant authorities for inspection, investigation and resolution according to the laws. The SBV issued Circular No. 22/2009/TT-NHNN dated 17 November 2009 as a guideline for institutions established and operated under the Law on Credit Institution and other insti-
tutions that conducted banking activities to implement the Government's Decree No. 74 dated 7 June 2005 on anti-money laundering. The SBV also successfully fullled the role of the standing agency of the AML Steering Committee as stipulated in the Prime Ministers Decision No 470/QD-TTg dated April 13th, 2009.
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BANKING SUPERVISION
Development and operations of the credit institution system
he credit institutions currently under SBVs supervision comprised of 05 state owned commercial banks (SOCB) (of which, 2 banks were equitized, namely Bank for Foreign Trade of Vietnam and Bank for Industry and Trade); Vietnam Development Bank; 37 joint stock commercial banks; 05 joint venture banks; 40 foreign bank branches; 05 100% foreign owned banks; 16 financial companies; 13 financial leasing companies; 49 foreign credit institutions representative offices; 01 Central Peoples Credit Fund and 1,030 local peoples credit funds. Total equity of credit institutions reached VND282,611.77 billion, accounted for 9.32% of total assets, an increase of 47.43% from end - 2008, of which, chartered capital was VND208,873 billion, 35.15% higher than that of end - 2008. The growth of total equity and chartered capital showed that credit institutions had focused on internal resources, thus gradually strengthening their nancial capacity. Credit institutions continued to increase their total assets through such services as fund mobilization from organizations and individuals, credit extension (loans, guarantees) to the economy and other services. As compared to 2008, total assets of the entire system increased by 36.39%. The SOCBs assets accounted for the largest part of the whole system (45.5%, as compared with 51.8% in 2008). The ratio of non-performing loans over total loan outstanding of the entire credit institution system stood at 1.99%, lower than the rate of 2.13% at end - 2008. ANNUAL REPORT 2009 Business performance: Although all credit institutions made positive net incomes, their ROA and ROE decreased as compared to end - 2008 due to the impacts of the global nancial crisis and economic downturn.
Banking supervision and anti money laundering

On-site supervision In 2009, the Banking Supervision Agency and SBV banking supervision in 63 branches carried out more than 1,000 examinations of credit institutions, focusing mainly on: (i) interest subsidized lending and compliance with foreign exchange management and prudential ratios in banking activities; (ii) negotiable interest rates for consumer lending and credit card loans; and (iii) unexpected examinations on credit institutions' lending activities. Based on the on-site supervision ndings, the Banking Supervision Agency requested examined credits institutions to correct the discovered shortcomings and violations. The agency also cooperated closely with relevant authorities to keep track of credit institutions activities and to have timely solutions should situation requires. Off-site supervision The SBV analyzed and developed (i) the off-site supervision system that was capable of giving early warnings of the problematic credit institutions and risks in banking activities; (ii) the micro prudential supervision system that applied CAMELS methodology for the supervision of individual CI; (iii) the macro prudential system for monitoring risks and threats to CIs; and (iv) the control of crises and incidents in banking activities. STATE BANK OF VIETNAM
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dated December 23rd, 2009 requiring some State Corporations and Groups to sell the foreign currencies they held in the forms of deposits and other current incomes to credit institutions; and Circular No 26/2009/TTNHNN dated December 30th, 2009 guiding
the trading of foreign currencies for the purpose of increasing the foreign currencies resources to meet the demand of the economy and lessen the pressure on the State foreign reserves.
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FOREIGN EXCHANGE MANAGEMENT

n 2009, the SBV successfully implemented the foreign exchange management policy including exchange rate management, supervision of foreign currency market, management of the State foreign reserves, and management of current account and capital account transactions.
Exchange rate management

Exchange rate was managed in a exible manner in line with market signals and the interest rates policy through adjusting exchange rate band and the average interbank exchange rate. The SBV intervened into the supply and demand for foreign currencies in the market in an appropriate manner to enhance liquidity, and to supply the import of necessary goods as well as production and business activities with foreign currencies, and enhanced the supervision over foreign currency trading of licensed credit institutions. Besides, the SBV required credit institutions to buy and sell foreign currencies in accordance with laws and regulations and coordinated with other ministries and agencies in implementing measures to counter illegal trade of foreign currencies in the black market. At the same time, the SBV accelerated the cooperation with other ministries and agencies, especially Ministry of Industry and Trade in containing trade decit and balancing domestic supply and demand for foreign currencies. Finally, the central bank publicized information on macroeconomic developments to enhance the awareness of people and enterprises of the countrys economic conditions and the SBV policies. At year-end, under the pressure of high ANNUAL REPORT 2009
trade decit and in order to prevent high ination, on November 25, 2009, in Decision No. 2665/QD-NHNN and No. 2666/ QD-NHNN, the SBV increased the average inter-bank exchange rate by 5.41%, but narrowed the exchange rate band between the spot exchange rate of credit institutions and the average inter-bank exchange rate announced by the SBV from 5% to 3%. Thanks to such comprehensive measures, the foreign exchange market was stabilized, market liquidity was improved and demand for foreign currencies was basically met.
Management of the state foreign reserves

In 2009, the State foreign reserves was managed in a safe and effective manner, thus meeting the essential demand for foreign currencies of the economy and contributing to smooth implementation of exchange rate policy and monetary policy of the SBV. Additionally, the foreign reserves investment continued to make prot, which in turn contributed to prevent a reduction in the State foreign reserves. To fulll the State foreign reserve management objectives and limit a decrease in foreign reserves, the SBV oversaw and analyzed market developments in order to develop suitable structure, norms and limits for foreign reserves investments, and accelerated the negotiation, signing and disbursement of external-nanced programs and projects and foreign grants, as a source of foreign currencies to supplement the State foreign reserves. The SBV also recommended the Prime Minister in the issuance of Document No.2579/TTg-KTTH STATE BANK OF VIETNAM
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Directive documents on the interest-rate subsidy scheme:

Interest-rate subsidy mechanism applied to VND short-term loans: - Decision 131/QD-TTg dated 23/1/2009 on interest rate subsidy for organizations and individuals borrowing from commercial banks for production and business purposes. - Decision 333/QD-TTg dated 10/3/2009, revising and supplementing certain articles of the Prime Ministers Decision 131/QD-TTg dated 23/1/2009. - Circular 02/2009/TT-NHNN dated 03/02/2009 articulating the implementation of interest-rate subsidy for organizations and individuals borrowing from commercial banks for production and business purposes. - Circular 04/TT-NHNN dated 13/3/2009 revising and supplementing circular 02/2009/TT-NHNN dated 3/2/2009. Interest-rate subsidy mechanism applied to VND medium- and long-term loans: - The Prime Ministers Decision 443/QD-TTg dated 04/4/2009 regarding interest-rate subsidy for organizations and individuals borrowing medium- and long-term from commercial banks for new investment in production and business development. - Circular 05/2009/TT-NHNN on 9/10/2009 guiding the implementation of the interest rate subsidy for organizations and individuals borrowing medium- and long-term from commercial banks for new investment in production and business development. - Circular 21/2009/TT-NHNN dated 9/10/2009 revising and supplementing certain articles of the SBVs Circular 05/2009/TT-NHNN dated 7/4/2009. - Circular 24/2009/TT-NHNN dated 14/12/2009 guiding the implementation of the interest-rate subsidy for organizations, individuals borrowing medium- and long-term from Vietnam Development Bank and Regional Development Investment Fund for new investment into production-business development. Interest-rate subsidy mechanism applied to VND borrowings for purchasing of machineries and materials for agricultural production and materials for residential construction in rural areas: - Decision 497/QD-TTg on interest-rate subsidies for loans for purchasing of machineries and materials used in agricultural production and materials for residential construction in rural area. - Decision 2095/QD-BCT issuing the detailed list of domestic commodities and products that subject to the interest rate subsidy scheme in accordance with the Prime Ministers decision 497/QD-TTg dated April 17th, 2009. - Circular 09/2009/TT-NHNN dated 05 May, 2009 guiding the implementation of the interest rate subsidy for organizations and individuals borrowing to purchase machineries and materials used in agricultural production and materials for residential construction in rural area. Interest-rate subsidy mechanism applied to VND loans from Vietnam Bank for Social Policies to the poor and other policy groups: - The Prime Ministers Decision 579/QD-TTg dated May 6th, 2009 regarding interest-rate subsidy for loans extended by Vietnam Bank for Social Policies. - The Prime Ministers Decision 622/QD-TTg dated May 17th, 2009 revising and supplementing Decision 579/QD-TTg dated May 6th, 2009. - Circular 14/2009/TT-NHNN guiding the implementation of the interest rate subsidy by Vietnam Bank for Social Policies for the poor and other policy groups. Guideline documents on the implementation of the interest-rate subsidy scheme: - Ofcial document 1436/NHNN-CSTT dated March 3rd, 2009 and ofcial document 2244/NHNN-CSTT dated April 2nd, 2009 guiding the implementation of the interest rate subsidy scheme. - Ofcial document 1183/NHNN-TCKT dated February 23rd, 2009 and 4700/NHNN-TCKT dated June 22nd, 2009 guiding the accounting record of interest rate subsidy by commercial banks and nancial companies. Ofcial document 4723/NHNN-TCKT regarding the accounting record of interest-rate subsidy by Vietnam Development Bank.
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Development Bank and Vietnam Bank for Social Policies should follow the Government favorable lending scheme; while subsidized lending by the Regional Development Investment Fund should follow Governments regulation and Ministry of Finances guidance. The interest-rate subsidy mechanism worked as follows: when interest payments were made to creditors such as commercial banks, nancial companies, Vietnam Bank for Social Policies, Vietnam Development Bank and Regional Development Investment Fund, the subsidized portion would be deducted from the total amount to be paid.
lion (accounted for 17.13%), VND 245,105 billion (70%), and VND 42,941 billion (12.35%), respectively. In terms of economic regions: Red River Delta: VND 107,131 billion (made up 30,87%), North East region: VND 24,822 billion (7.14%), North West region: VND 3,883 billion (1.12%), North Central Coast: VND 17,030 billion (4.9%), South Central Coast: VND 22,912 billion (6.59%), Central Highland region: VND 14,982 billion (4.31%), South-eastern region: VND 98,750 billion (28.41%), and Mekong Delta region: VND 59,901 billion (16.66%). Therefore, given the fact that the economy was negatively affected by the global nancial crisis and economic recession, the implementation of the interest-rate subsidy scheme has received high support from the whole political system, people and business community; and was considered by international nancial and monetary institutions as a typical measure of Vietnam. This economic stimulus measure was seen as optimal choice thanks to its low cost and the possible achievement of the targets of supporting businesses and households in sustaining production and business, expanding investment, reducing cost in order to improve competitiveness, creating jobs, thus contributing to realizing the rst prioritized target of preventing economic downturn.
Outcomes of the interest-rate subsidy lending

As reported by commercial banks, nancial companies, Vietnam Development Bank and Vietnam Bank for Social Policies, the outstanding loans under the interestrate subsidy program as of December 31st, 2009 totaled VND 385,824 billion, of which, VND 347,594 billion, VND 12,265 billion and VND 25,965 billion were claims to commercial banks and nancial companies, Vietnam Development Bank, and Vietnam Bank for Social Policies, respectively. In terms of group of borrowers, stateowned enterprises, private enterprises and households borrowed VND 59,548 bil-
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INTEREST-RATE SUBSIDY PROGRAM

n 2009, under the Prime Ministers decisions, the SBV organized and instructed the implementation of the interest-rate subsidies in a timely and determined manner so as to prevent economic downturn and accelerate production and business activities. The SBV considered this task the first priority of the banking system in 2009.
Interest-rate subsidy mechanisms

Under the Prime Ministers decisions, the SBV, in coordination with other relevant ministries and industries, has implemented the interest rate subsidy mechanisms in a timely manner. Interest-rate subsidy mechanism applied for entities, individuals borrowings for production and business purposes: commercial banks and nancial companies applied interest-rate subsidies of 4 percentage point per annum on short-term loans incurred between February 1st, 2009 and December 31st, 2009 with the maximum subsidized period of 8 months. Interest-rate subsidy mechanism applied for entities and individuals medium- and long-term borrowings for new investment projects in manufacturing and business sectors: commercial banks and nancial companies applied interest-rate subsidies of 4 percentage point per annum on mediumand long-term loans incurred between April 1st, 2009 to December 31st, 2009 with the maximum subsidized period of 24 months. Interest-rate subsidy mechanism applied for borrowings for purchasing of machineries and materials for agricultural production ANNUAL REPORT 2009
and materials for residential construction in rural areas: commercial banks and nancial companies applied interest-rate subsidies for loans incurred in the period from May 1st, 2009 to December 31st, 2009; in particular for borrowings for the purposes of purchasing machineries, 100% interest-rate subsidy was applied but only for the maximum period of 24 months; and for loans for purchasing materials used in agricultural production and materials for residential construction in rural areas, interest-rate subsidy of 4 percentage point per annum was applied for the maximum of 12 months. Interest-rate subsidy mechanism applied to borrowings from Vietnam Bank for Social Policies: the interest-rate subsidy of 4 percentage point per annum was applied to all loans incurred during May 1st, 2009 to December 31st, 2009, with the maximum subsidizing period of 24 months. Interest-rate subsidy mechanism applied to borrowings from the Vietnam Development Bank and Regional Development Investment Funds: the interest-rate subsidy of 4 percentage points per annum was applied for medium- and long-term loans incurred in the period from April 1st, 2009 to December 31st, 2009, with the maximum subsidizing period of 24 months. According to the regulations on interestrate subsidy mechanism, the subsidized lending by commercial banks and nancial companies should follow normal lending schemes with no lending conditions being loosened; subsidized lending by Vietnam STATE BANK OF VIETNAM
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opment, especially in prioritized and efcient businesses and sectors, on February, 2009, the SBV cut base interest rate from 8.5% to 7% per annum and kept it unchanged until end-November 2009. Renancing interest rate was adjusted twice from 9.5% to 8% per annum (February) and to 7% per annum (April 10th, 2009), and rediscount rate was cut twice from 7.5% to 6% (February) to 5% (April 10th, 2009). In December 2009, to closely control the size and quality of credit to be in line with
the macro economic targets set by the National Assemblys Resolution and the Governments direction, as well as to facilitate credit institutions to mobilize capital from the economy to expand their business and meet capital needs of businesses, the SBV raised base interest rate from 7% per annum to 8%, renancing interest rate from 7% to 8% and rediscount rate from 5% to 6%.
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implementation of OMOs contributed positively to stabilizing the money market, and ensuring the smooth operation of the payment and settlement system. At the same time, it was observed that the inter-bank interest rates tended to move around the interest rates offered via OMOs.
Refinancing
In 2009, the SBV continued to use renancing as a means of providing guaranteed short-term lending and liquidity supports to credit institutions. Accordingly, the SBV provided 1- to 3-month renancing mainly to ensure liquidity of the economy. The renancing lending rates ranged from 7 to 8% per annum. Most credit institutions resorted to the SBVs renancing at the later time of 2009 in order to promptly meet the demand for deposit withdrawal of economic organizations and individuals during the New Year.
ment ratios applied to VND deposits of below 12 months twice, from 6% subsequently to 5%, and to 3%; and to VND deposit of more than 12 months once, from 2% to 1%. Exceptionally for Vietnam Bank for Agriculture and Development, reserve requirement ratios for below 12-month maturity was reduced from 3% subsequently to 2%, and 1% while that of the above 12-month maturity was kept unchanged at 1%. In order to maintain foreign currency interest rates, reserve requirement applied to foreign currency deposits was maintained at the same rates as those of 2008, i.e. 7% for below 12-months deposit and 3% for above 12-months deposit. As for VBARD, reserve requirement applied to foreign currency deposits of less than 12 months and above 12 months were 6% and 2%, respectively. The SBV also cut the interest rates paid on VND required reserves from 8.5% to 3.6%, and then 1.2% per annum, and interest rate paid on excess foreign currency deposit from 0.5% to 0.1% per annum. These interest rates were cut to be in line with other SBVs policy interest rates and to encourage credit institutions to reduce the excess required reserves at the SBV, thus utilizing capital more efciently.
Foreign Currency swap

In 2009, the SBV entered into foreign currency swaps (FCS) with credit institutions facing temporary difculties in mobilizing VND, thus helping credit institutions balance their VND and foreign currency resources and funding, contributing to stabilizing money market as well as increasing foreign reserves. Maturities applied in FCS transactions were 3 months, 6 months and 12 months with the respective interest rates of 6% p.a., 6.25% p.a. and 6% p.a. As of end-2009, the SBV carried out 3-month and 6-month FCS transactions only, with the interest rates raised to 7.75% p.a. and 8% p.a., respectively.
Interest rate management

In 2009, the SBV continued to use the base interest rate mechanism, according to which, deposit and lending interest rates set by credit institution would not exceed 150% of the base interest rate. However, in terms of consumer lending and lending through issuance of credit cards, the SBV issued Circular 1/2009/TT- NHNN dated January 23rd, 2009 allowing credit institutions to apply the negotiable interest rate mechanism. In order to lower the lending interest rate level and to meet the capital demand for economic develSTATE BANK OF VIETNAM
Reserve requirement
Right at the beginning of 2009, in order to support credit institutions funding of the economy and to prevent economic downturn, the SBV reduced the reserve requireANNUAL REPORT 2009
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MANAGEMENT OF MONETARY POLICY INSTRUMENTS

n 2009, the SBV managed the monetary policy in the direction of prudent easing, supporting liquidity and creating favorable environment for credit institutions to increasingly extend credit in an effective manner, thus contributing to the realization of the National Assemblys and the Governments resolution on preventing economic recession, stabilizing macro-economy, stimulating investment and consumptions, promoting export, actively preventing inflation and ensuring the safety of the whole system.
cial resources of credit institutions were still in surplus, resulting in low participation of credit institutions in the OMOs sections and the low rate of winning bids of only 74% as compared to the total amount offered by the SBV. The average volume of winning bids was VND 1 trillion/section. In the second half of 2009, in order to meet the credit institutions increasing demand for fund under the Government stimulus packages, the SBV increased the volume offered in OMO auctions and the average volume of winning bids increased signicantly, to as much as 95% of the total amount offered by the SBV, or an average of about VND 6 trillion per section, which was 6 times higher than the rst 6 months level. Especially, in the rst half of December, the averaged purchase offered by the SBV via OMO channel reached about VND 15 trillion per section to support credit institutions increasing liquidity needs during the New Year occasion. The maturity for repurchase was offered exibly between 7 and 14 day at the interest rate of 7% and 7-8% per annum, respectively. At the same time, in order to actively control ination and regulate credit institutions liquidity, the SBV offered to sell SBV bill with the frequency of 3 sections a week, for maturities of 3 month and 6 month; and in the forms of interest rate biding and unied biding evaluation. However, out of 68 selling auctions, only 2 were successful with the total winning value being VND 102 billion. Together with the prudent and exible utilization of other monetary instruments, the STATE BANK OF VIETNAM
Open Market Operations

In 2009, OMOs were managed in a exible manner and in conformity with the demand for and supply of capital of credit institutions. OMOs were conducted on a daily basis and were mainly in the forms of shortterm purchasing of valuable papers (7, 14 days) and volume auction in which the cutoff interest-rate and volume were publicized to stabilize the market. Besides, the OMOs interest-rate was adjusted in line with the policy targets and acted as SBVs management signals to the market; while the offered volume was in line with the targets of exibly managing liquidity, and ensuring solvency of the system. During the rst half of 2009, the SBV offered to purchase valuable papers for the maturity of 14-day with the interest-rate reducing gradually from 9% to 7% per annum in order to provide short-term capital to the economy, and facilitate credit institutions to meet capital needs for the economic stimulus programs. However, as the economic stimulus programs were just initialized, the demand for fund was not high and the nanANNUAL REPORT 2009
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porters, making it impossible for banks to have sufcient foreign currency to meet the demands of the economy; (iii) impacts of interest rate subsidy policy applied to VND corporate loans: As VND lending interest rate was low, and lending volume and maturities were expanded, many enterprises did not sell their foreign currency incomes for VND but preferred borrowing VND instead; and (iv) lower foreign currency inows from imports, remittances, tourist services, FDI, and FII as compared to those of previous years. VND/USD exchange rate: The average inter-bank exchange rate was 17,941 VND/ USD by end of 2009, or 5.69 % higer than that at the begining of the year. VND/USD buying and selling exchange rates by commercial banks increased by about 5.6% as compared to that at the begining of the year, and was traded around 18,479 VND/USD. VND/Euro exchange rate: EUR/VND buying and selling exchange rates increased by 2,200/2,300 VND/EUR or 9.2%, from 24,200/24,700 VND/EUR on January 04, 2009 to 26,400/27,000 VND/EUR on December 31, 2009.
inter-bank transaction in 2009 totaled VND 3,538 trillion, an increase of 7.3% as compared to that of 2008, contributing to the smooth operation of banks payment system. VND Inter-bank interest rate in the rst 6 months of 2009 remained relatively stable with over-night rates largely stayed at 6-7% p.a. During the second half of the year, VND inter-bank market interest rate increased as a result of higher demand for fund for the Governments economic stimulus programs. Over-night interest rate stood at 7.5-8% p.a and 10.5-11% p.a in August 2009 and in December 2009, respectively. Credit institutions mainly transacted at short-term maturities, showing that borrowing in the interbank market was mainly for the purpose of ensuring liquidity. Inter-bank transaction regulations: In order to ensure the stable operation of the inter-bank market, improve the resources management capacity, and safeguard the safety of credit institutions operations, the SBV stipulated that credit institutions transactions on inter-bank market had to be centrallized at their head ofces, and no branch was authorized to mobilize from and lend to other credit institutions. STATE BANK OF VIETNAM
Inter-bank market
Transaction volume: Credit institutions ANNUAL REPORT 2009
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counted for 22.8% of the total lending of the banking system, lower than the rate of 28.84% in 2008. Trade nance outstandings accounted for 19.2%, higher than that of 18.67% in 2008. Share of lendings to industries, construction, transportation and logistics and communications remained similar to those in 2008, accounting for 26.5%, 12.9% and 5.4%, respectively.
of maturities of 1 month and above stood at 10-10.49 percent per annum. VND lending interest rate in the rst 2 months of 2009 decreased by around 1.5 2.5 percentage points per annum as compared to that of end - 2008 and remained relatively stable until late November 2009, but was always at a level close to the lending interest rate cap of 10.5% per annum (150% of the base interest rate). Since December 1st, 2009, after the SBV increased the base interest rate from 7% up to 8% per annum, credit institutions raised their lending interest rates accordingly to the new cap of 12% per annum. Interest rates applied to consumer and credit card lendings were 3-5 percentage points per annum higher than the ordinary ones. As of December 31st, 2009, lending interest rates were around 12% per annum, while those of consumer and credit card loans remained at 15 - 17% per annum.
Interest rate developments

In 2009, both VND deposit and lending interest rates trended to increase, with deposit interest rate increasing more strongly than that of lending, resulting in the narrowing down of interest spreads. VND deposit interest rates in the rst 2 months of 2009 decreased by 1-2 percentage per annum as compared to that of end - 2008. However, from late February 2009, VND mobilizing interest rate was always under upward pressures, mainly due to the substantial credit demands as a result of the Governments interest rate subsidy program, the funding needs of enterprises and manufactures for the implementation of business plans and investment projects under the Governments stimulus programs, and the difculties of commercial banks in balancing between lending and mobilization. As of December 31st, 2009, deposit interest rates
Foreign Exchange Market Developments

Foreign currency supply and demand in 2009 experienced complicated uctuations which put large pressures on foreign exchange rate, and was mainly attributed to the following factors: (i) trade balance decit; (ii) global nancial crisis that caused public sentiment of holding USD, especially by ex-
ANNUAL REPORT 2009
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ANNUAL REPORT 2009
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month averagely, and particularly by 4.02% in May 2009. However, the growth rate of capital mobilization slowed down in the last 6 months of the year with the lowest monthly rate of 0.82% in August 2009 and the average growth of 1.67% per month.
than that of 17.62% in 2008. VND credit outstanding increased at mild pace in the rst two months of 2009, following the trend of the second half of 2008, but surged again from March to September of 2009 in response to and as a result of the Government stimulus packages and interest rate subsidy policy. However, the credit growth slowed down again in the last three months of 2009 due to the gradually lower level of interest rate subsidy. Banks lending portfolio composition as classied by economic sectors did not show much change as compared to that of 2008. Bank lendings to rural development (including agriculture, forestry and sheries) ac-
Credit
The banking systems total credit outstandings to the economy increased by 37.53%, much higher than the rate of 23.38% in 2008 mostly thanks to the Governments stimulus measures and to meet the economys capital demand. Total VND lending increased at the rate of 43.51% (much higher than that of 25.02% in 2008); while total foreign currency loans grew at 15.12%, lower
ANNUAL REPORT 2009
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MONETARY DEVELOPMENTS
Total liquidity
n 2009, total liquidity increased by 28.99%, higher than the rate of 20.31% in 2008 mainly because of the high credit growth. The composition of total liquidity continued to change in the positive direction with the share of cash slightly reducing to 14% from 14.6% of 2008 (as compared to that of 16.36% and 17.21% in 2007 and 2006 respectively), reecting the fact that non-cash means of payment had been growing more rapidly than the cash ones. In 2009, the proportion of foreign currency deposit in total
liquidity slightly increased to 20.41% from 20.37% in 2008.
Capital mobilization
The growth rate of capital mobilization by the banking system reached 29.88%, higher than the rate of 22.84% in 2008, of which, VND mobilization growth stood at 30.07% as compared to 21.38% in 2008, and foreign currency mobilization rose at the rate of 29.29% in 2009 as compared to that of 27.74% in 2008. Capital mobilization increased rapidly in the rst half of 2009, by more than 3% per
ANNUAL REPORT 2009
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In terms of exports structure: In 2009, there were 13 groups of export commodities reaching the above USD 1 billion level of export turnover, namely aquatic products, coffee, rice, coal, crude oil, gas and petroleum, rubber, wood and timber products, textile and garment, footwear, jewel, precious metals, computer and electronic products, spare parts and other equipments. Textile and garment took the leading position in exports with the export value of USD 9.1 billion, surpassing that of crude oil. As compared to 2008, Vietnams essential exports commodities still registered quite high growth rates, in terms of export quantity, especially agriculture products. 5.96 million tons of rice was exported in 2009, an increase of 25.4% as compared to 2008 and the highest level so far. In terms of imports structure: In 2009, there were 17 groups of import commodities that reached the level of import turnover of above USD 1 billion, namely feedstuffs and materials, petroleum, chemistry and chemical products, pharmaceutical products, fertilizers, plastic materials and plastic products, cloths, materials for footwears production, steel and iron, steel products, metals, computers and electronic products and spare parts, automobile and equipment and spare parts for automobile.
In terms of import and export partner: In 2009, Vietnam experienced falling trade turnovers in all traditional export and import markets. As compared to 2008, Vietnams export to USA, ASEAN countries, EU and Japan reduced by 4.3%, 14.1%, 13.6% and 26.3% respectively. In 2009, China continued to be the biggest trade partner of Vietnam with total import export turnover between 2 countries reached USD 21.35 billion, accounted for 16.8% of Vietnams total import export turnover. Vietnams trade decit to China was USD 11.53 billion, accounted for 89.7% of Vietnam total trade decit. In terms of export markets, USA was still the biggest export market of Vietnam. In 2009, the export turnover to USA was USD 11.36 billion, reduced by 4.3% as compared to the same period of 2008.
ANNUAL REPORT 2009
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abroad was estimated to reduce by 44.6% as compared to 2008. Investment payments reduced by 8.2% from that of 2008 because of the reduction in foreign investors prots in oil and gas as a result of the decrease of crude oil price in international markets.
Commission, as of end-2009, the total value of foreign investors portfolios on Vietnams securities markets stood at about USD 6.7 billion, equivalent to 20% of the market capitalization. Banking systems money and deposit abroad turned to negative USD 305 million as compared to positive USD 677 million of 2008.
Capital and financial accounts

Capital and nancial account was in surplus of USD 11.45 billion, down by 7.2% from that of 2008. Net foreign direct investment (FDI) stood at USD 6.9 billion, down by 25.6% as compared to 2008. Capital inows in the form of external borrowings increased but the structure of debts has changed in the direction of increasing medium and long term loans and reducing short term borrowings. Net medium and long term loans were in surplus of USD 4.47 billiom, 4.5 times the 2008 level, while net short term borrowings surplus stood at USD 256 million, just equivalent to 13% of that of 2008. Net foreign indirect investment (FII) turned to a surplus of USD 128 million after experiencing the decit of USD 578 million in 2008. According to the State Securities
Import and export

In 2009, the falling of commodity prices in international markets has reduced the countrys import and export value. In 2009, total export import turnover reached USD 127 billion, a decrease of 11.4% as compared to 2008, of which, commodity exports totaled USD 57 billion, down by 8.9% year-on-year and import turnover (at CIF price) reached USD 69.95 billion, down by 13.3% from that of 2008 (import value, if calculated at FOB price, was USD 65.4 billion). Trade balance decit was narrowed down to USD 8.3 billion. Trade decit stood at USD 12.85 billion or equivalent to 22.51% of the total export turnover, down from the rate of 28.76% in 2008.
ANNUAL REPORT 2009
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INTERNATIONAL BALANCE OF PAYMENT AND IMPORT AND EXPORT

n 2009, the overall balance of payments deficit stood at USD 8.17 bn as a result of the negative impacts of the financial crisis and global economic downturn, and the reduction in revenue from both current and capital transactions, especially those of export, FDI and remittances.
Current account
Current account decit in 2009 reached USD 7.44 billion, or 7.7% of GDP, which was considerably narrowed as compared to that of 2008. Trade decit was USD 8.3 billion, down by 35% from that of 2008, of which, exports at FOB price reduced by 8.9% and imports at FOB price reduced by 13.3%. Nevertheless, trade decit was still one of the key drivers of current account decit. Service account decit stood at USD 1.13 billion, 23.4% higher than that of 2008, because receipts from services reduced more dramatically than expenses. Receipts from service sector reduced by 18.1% as compared to 2008, of which revenue from
tourism services (accounted for 50% of the total receipts from service sector) fell sharply. The other service sub sectors including transportation, air and insurance all reduced. Payment of the service sector reduced by 13.3% as compared to 2008, of which transportations and insurances payments (which took the biggest share in the total services payments) were also down by 13.3% as compared to 2008 because of the reduction in imports. Payments for import by other service sub sectors such as nance, transportation and insurance all reduced as compared to 2008. Transfers, was in surplus of USD 6.53 billion, down by 10.7% as compared to 2008, of which private transfers reduced by 11.6%, and ofcial transfers was at similar level with that of 2008. Investment income decit stood at USD 4.53 billion, down by 3% as compared to 2008. Investment income, including interest income of the banking system and investment prot of Vietnamese enterprises
ANNUAL REPORT 2009
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of the Governments stimulus package. At times between May and June 2009, property prices surged and reached the highest pace of 40% in October 2009 because of the soared speculation of a possible change in the infrastructure development plan and the
price expectation in the context of higher income of population. Besides, improvements in macro-economic developments also helped accelerate real-estate markets.
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tion expectation. However, since April 2009, ination trended to increase because of: (i) on the demand side: higher investment and consumption thanks to the positive impacts of the Governments stimulus measures, the increase in minimum salary of state employees and state budget subsidized persons since May 2009, the recovery of property markets, and the increasing ination expectation. (ii) on the supply side: raised prices of some of the state-managed commodities (electricity, coal and clean water) in consistent with the movement of the market prices, and the increasing prices of global essential goods, making domestic cost and price base increased (for example, domestic petroleum price was raised 9 times with the growth level of 45%).
of the year and started to recover since Q2. Total fund mobilization of the markets in 2009 stood at VND 21 trillion and the market capitalization accounted for 38% of GDP. As of end-2009, VN-Index reached 494.77, an increase of 56.8% y-o-y and of 110% as compared to its trough point as February 24th 2009. It peaked at 624.10 on October 22. The average transaction value per session reached VND 2.8 trillion, doubled that of VND 1.4 trillion/session in 2008. Domestic gold price moved up by 60% as compared to end-2008. It moved in tandem with that of international markets and peaked at VND 29.40 million/tael in November 2009 due to the linkage with world prices, the increase in VND/USD exchange rate and speculation factor. At times, domestic gold price was VND 2 3 million higher than global price. However, since early December, the price of gold dropped mainly due to the decline in global price. Property markets witnessed some improvements as compared to 2008, especially in the market segment of habitations for low and medium-income persons as a result STATE BANK OF VIETNAM
Developments in securities, gold and property markets

Domestic securities markets moved in the same direction with global securities markets and domestic economic developments. Securities markets dropped by 25% in Q1 2009 as compared to the beginning ANNUAL REPORT 2009
11
from the Governments stimulus package. Service sector grew at 6.63%, the highest rate in the three economic sectors thanks to the somewhat limited impacts of the global economic recession.
rate sector was estimated to stand at VND 2.75 million/month, an increase of 6.5% as compared to 2008.
State budget revenue and expenditure

Fiscal decit in 2009 accounted for 6.9% of GDP, higher than the rate of 4.48% in 2008 mainly as the result of the impacts of the global economic recession and the Governments economic stimulus measures. State budget revenue in 2009 declined by 6.3% as compared to 2008 mostly because of: (i) the slowdown in the export of most commodities, especially crude oil where the decrease occurred in terms of both volume and value; (ii) the weaker commodity purchasing power due to the adverse effects of the global economic slowdown; and (iii) policies of tax deferment and exemption applied by the Government. Budget expenditure was estimated to grow by 8.76% as compared to 2008 as a result of: (i) the Governments accelerated investment into development and social protection under the investment and consumption stimulus program; and (ii) higher current expenditure due to the adjustment of minimum salary applied for State administrative units.
Investment
In 2009, total social investment reached approximately VND 704.2 trillion or 42.8% of GDP, of which, public investment increased by 40.5% thanks to the Governments stimulus measures to prevent economic slowdown, private investment increased by 13.9%, and foreign investment declined by 5.8% because of the negative impacts of the global economic recession. In terms of the States development investment credit, in 2009, the disbursement of domestic investment credit was estimated to reach VND 20.3 trillion, equivalent to 70.3% of the whole year plan; that of ODA on-lending was VND 3.35 trillion or 35.5% of the whole year plan; and average export credit outstanding was VND 13.8 trillion, equal to 138% of the whole year plan.
Employment and income

Labor markets: there was a slump in both domestic and external demand for labors. In 2009, the number of newly created jobs was about 1.51 mn, equivalent to 89% of the whole year plan and declined by 6.5% as compared to 2008. Unemployment rate in urban areas in 2009 slightly increased to 4.66% from 4.65% in 2008. There were some 73,000 labors sent abroad, decreased by 16% as compared to 2008. Income in 2009 as a whole increased thanks to the 20% raise in the general minimum salary by the Government since May 1, 2009. According to a survey done by Ministry of Labor, Invalid and Social Affairs, in 2009, the average salary of labors in corpoANNUAL REPORT 2009
Inflation
Consumer Price Index (CPI) in December 2009 rose by 6.25% y-o-y only; and average CPI in 2009 as a whole increased by 6.88% as compared to 2008; much lower than those of 19.89% and 22.97% respectively in 2008. In the rst three months of 2009, ination rate declined because of the demand side factors (growth rates of both investment and consumption were low), the lower cost due to the impacts of the global economic recession, and the declining inaSTATE BANK OF VIETNAM
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VIETNAMS ECONOMY
espite the difficulties and challenges brought about by the global financial crisis and economic downturn, in 2009, Vietnam was among a few countries achieving positive economic growth rate. However, the economic growth rate momentum was impaired due to the fact that the countrys trade balance and balance of payments were strongly hit by the global economic downturn and the continuous occurrence of natural calamities and epidemics.
agriculture-forestry-shery (lowest level of 1.83%), industry-construction (5.52%) and services (6.63%). In terms of contribution to GDP, services, again, contributed the most to the overall economic growth. Agriculture-shery-forestry grew at the 20-year low rate of 1.83%, of which, agricultures growth rate was 1.32%, and those of forestry and shery were 3.47% and 4.28%, respectively. Industry-construction sectors registered the growth rate of 5.52% in 2009, of which, industry grew at approximately 3.98%, halved from its pace in 2008 due to the considerably weaker domestic and external demand that had the production in a lot of enterprises suspended or sharply reduced. On the contrary, the growth rate of the construction sector increased by 11.36% thanks to the recovery of property markets, the aggressive decline in prices of such construction materials as cement, iron as compared to 2008, and the additional capital injected into the economy
Economic growth
In 2009, GDP growth rate reached 5.32%, the lowest level in the past 10 years, lower than that of 6.18% in 2008. However, in terms of quarterly growth, there was a gradual improvement in economic growth rate thanks to the recovery of domestic investment and consumer demand resulted from the Governments economic stimulus measures. Economic growth rate registered in Q1, 2, 3 and 4 was 3.14%, 4.41%, 5.98% and 6.99%, respectively. The year 2009 witnessed slower growth paces in all three economic sectors, namely
ANNUAL REPORT 2009
WORLD ECONOMY
n 2009, the world economy continued to experience certain difficulties, especially during the first months of the year, marking the longest economic recession period since the Great Depression between 1929 and 1933. According to the IMFs report, the world economic growth went down from 3.0% in 2008 to -0.8% in 2009. Nevertheless, thanks to the positive impacts of the economic bail-out measures conducted since end-2008, the world economy recovered gradually since Q2 2009. Yet, the recovery was uncertain and contained such potential risks as higher unemployment rate and budget deficit in many countries compared to previous years.
tively. Global demand was considerably weakened by the decline in world commodities prices, especially those of crude oil and foods due to the world economic downturn. However, in Q4 2009, the y-o-y average ination rate in the United States and the Euro zone returned to positive level thanks to signals of recovery in the world economy, and the improvement in market expectation as a result of the increasing implementation of economic stimulus packages leading to the surge in prices of such essential commodities as crude oil, steels, and cements as compared to the beginning of the year.
Economic Growth
In 2009 as a whole, the United States economic growth fell dramatically to the rate of -2.4%. At the same time, Euro-zones economy shrank to the rate of -4.1%, while Japans economic growth rate dropped to -5.3%. Similarly, developing Asian economies were adversely affected by the global nancial crisis and economic downturn as shown in the signicant deterioration of international capital and trade ows. Chinas economy, after growing at the record low rate of 6.5% in Q1 2009, started recovering since Q2 and became the country that experienced the most positive economic development in the world when registering economic growth rates of 8.1%, 9.6% and 11.3% in Q2, 3 and 4 2009, respectively.
Monetary Policy
In 2009, almost every central bank eased their monetary policy through both policy rates cutting and quantitative easing in the forms of liquidity injection into banking system and the economy. The interest rate announced by FED and some other central banks such as European Central Bank, Bank of Canada and Bank of England were cut down to the lowest levels in the history (nearly 0%). A lot of countries such as the United States, those in Europe, the U.K. and Japan injected liquidity into banking system on a continuous basis through purchasing commercial papers, corporate bonds and government bonds. However, since August, the amount of money supplied through this channel was gradually cut down when the economy as well as the banking and nancial systems showed signs of recovery. Since October, in the context of economic growth recovery, few central banks turned to tighten their monetary policy, for example, Australia and Norway raised their policy interest rates, and China increased the reserve requirements. STATE BANK OF VIETNAM
Inflation
In 2009, in the context of the economic recession, ination rates in most of the countries in the world fell sharply. In the United States, average ination rate went down to -0.4%, while that in Euro zone, Japan and China was 0.3%, -1.1 % and -0.1%, respecANNUAL REPORT 2009
SBV Office
To advise and assist the Governor in instructing and managing the banking activities; implementing administrative reform of the SBV; managing the information, promulgation, press, archive and administration work of the banking system in accordance with relevant laws and regulations; and carrying out administration, protocol and archives activities at the SBV Headquarters. To advise and assist the Governor in carrying out the state management of information technology in the banking industry in accordance with relevant laws and regulations. To advise and assist the Governor in implementing the state management function on information technology in the banking industry in accordance with the law To advise and assist the Governor in asset and financial management, technical infrastructure, logistics, security and heath care for employees at the SBV Headquarters To advise and assist the Governor in conducting central banking operations To manage and carry out international credit projects financed by international financial and monetary institutions and foreign donors To advise and assist the Governor in implementing local monetary and banking operations and selected central banking operations as authorized by the Governor To conduct the representative functions as authorized by the Governor Administration Agencies
Banking Information Technology Department Issue and Vault Department Administration Department Banking operations Center International Credit Projects Management Unit Municipal and provincial branches Representative Office in HCMC
Banking Strategy Institute Credit Information Center
To study and develop banking development strategies and plans; to conduct research and banking technology development for the purpose of state management function of the SBV on monetary and banking activities in accordance with relevant laws and regulations To collect, process, record, analyze and forecast credit information for the purpose of state management by the SBV; to provide banking information services in accordance with the SBVs regulations and relevant laws and regulations. The mouthpiece and social forum of the banking sector to disseminate the Partys orientation and guidelines, the States legislation and policies and banking operations in accordance with the SBVs regulation and relevant laws and regulations. The mouthpiece and professional forum to disseminate banking profession, science and technology; and to disseminate the Partys orientation and guidelines, the States legislation and policies, banking activities and technology achievements of the banking industry in accordance with the SBVs regulation and relevant laws and regulations. To train, update and enrich the knowledge, state management and professional skills of SBVs staff on banking sector to meet the development requirements and to improve the SBVs and banking sectors staff quality in accordance with the Governors approved plans.
Banking Times
Banking Review
Banking Training School
ANNUAL REPORT 2009
DEPARTMENTS AND ADMINISTRATIVE UNITS OF THE STATE BANK OF VIETNAM

UNITS Monetary Policy Department Foreign Exchange Department Payment and Settlement system department Credit Department Monetary forecasting and statistics department International Cooperation Department Internal Audit Department Legal Department FUNCTIONS To advise and assist the Governor of the State Bank of Vietnam in making national monetary policies and using monetary tools in accordance with relevant laws and regulations. To advise and assist the Governor in carrying out the state management functions on foreign exchange and foreign exchange activities in accordance with relevant laws and regulations. To advise and assist the Governor in carrying out the state management function on payment and settlement activities of the economy in accordance with relevant laws and regulations. To advise and assist the Governor in carrying out the state management function on banks credit and managing money market in accordance with relevant laws and regulations. To advise and assist the Governor in carrying out monetary forecasting and statistics in accordance with relevant laws and regulations. To advise and assist the Governor in carrying out the state management function on international cooperation and integration in accordance with relevant laws and regulations. To advise and assist the Governor in carrying out the internal audit of SBVs units operations. To advise and assist the Governor in conducting the state legal management and enhancing the socialist legal framework in the banking industry To advise and assist the Governor in implementing the SBVs finance, accounting and capital investment activities and conducting the state management in accounting and capital investment in the banking industry in accordance with relevant laws and regulations To advise the Governor and the SBVs Partys Civil Affairs Committee in organization, personnel, employee management, salary policy and other policies of the SBV in accordance with relevant laws and regulations. To advise and assist the Governor in implementing the state management function on emulation and rewarding in the banking industry in accordance with relevant laws and regulations. To conduct the administrative and banking professional regulation and supervision in the areas under the SBVs state management; to advise and assist the Governor in implementing the state management function over credit institutions, microfinance institutions, and banking operations of other institutions; and to conduct the anti - money laundering activities in accordance with relevant laws and regulations.
Accounting and Finance Department
Personnel Department Emulation and Rewarding Department
Banking Supervision Agency
ANNUAL REPORT 2009
FOREWORDS BY THE GOVERNOR

n 2009, most countries in the world were hit by the global financial crisis and economic downturn. As a result of the intensive integration into the world economy, Vietnam was also adversely affected, especially in the areas of export, investment and tourism. In addition, a series of natural disasters and epidemics has intensified the difficulties facing the economy. In this context, the Government has deployed urgent measures to prevent economic slump, maintain growth and secure social protection. As a result, the threat of economic slowdown has been inhibited, economic growth rate reached 5.32%, macro-economy has been stabilized, inflation has been controlled and a favorable environment for socio-economic development has been created.
losely following the Governments objectives and measures, in 2009, the SBV has conducted the monetary policy in an active and flexible manner, and adopted a prudent easing policy stance by means of cutting policy interest rates and reserve requirements, and maintaining a reasonable level of VND depreciation. The SBV has also implemented the interest rate subsidy scheme for businesses and credit subsidy program for agriculture and rural areas and small- and medium-sized enterprises, strengthened the prudential supervision of the banking sector, developed banking services facilities, enhanced international cooperation, and improved the disclosure of monetary policy and banking operations information. The SBVs management of monetary policy and banking operations has made important and positive contributions to the achievement of economic outcomes, and the ensurance and efficiency of currency circulation and credit institutions operations. Many theoretical and practical lessons have been learnt for the SBVs future implementation of the monetary policy as well as the development of credit institutions./. r Governor of the State Bank of Viet Vietnam
NGUYEN VAN GIAU
ANNUAL REPORT 2009
MANAGEMENT BOARD OF THE STATE BANK OF VIETNAM
Mr. Nguyn Vn Giu Governor
Mr. Nguyn ng Tin Deputy Governor
Mr. Trn Minh Tun Standing Deputy Governor
Mr. ng Thanh Bnh Deputy Governor
Mr. Nguyn Ton Thng Deputy Governor ANNUAL REPORT 2009
Mr. Nguyn Vn Bnh Deputy Governor STATE BANK OF VIETNAM
HEAD OFFICE AND PROVINCIAL BRANCHES
ANNUAL REPORT 2009
CONTENTS
FOREWORDS BY THE GOVERNOR DEPARTMENTS AND ADMINISTRATIVE UNITS OF THE STATE BANK OF VIETNAM WORLD ECONOMY VIETNAMS ECONOMY INTERNATIONAL BALANCE OF PAYMENT AND EXPORT AND IMPORT MONETARY DEVELOPMENTS MANAGEMENT OF MONETARY POLICY INSTRUMENTS INTEREST RATE SUBSIDY PROGRAM FOREIGN EXCHANGE MANAGEMENT BANKING SUPERVISION BANKING TECHNOLOGY AND PAYMENT ACTIVITIES CREDIT INFORMATION INTERNAL AUDIT LEGAL ACTIVITIES INTERNATIONAL COOPERATION PERSONNEL APPENDIXES 5 6 8 9 13 16 21 24 27 29 31 32 34 35 37 39 41
ANNUAL REPORT 2009
ANNUAL REPORT 2009

SBV 2009

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