State Bank of Vietnam: reducing the price of credit information services, indirectly supporting enterprises
(Updated at 10:10, 23/1/2018)
This reduction will support credit institutions to reduce operating costs, thus reducing the lending interest rate, thereby helping enterprises reduce costs, promoting economic development.
The State Bank of Vietnam (SBV) has just announced that the National Credit Information Center (CIC) of the State Bank of Vietnam (SBV) has reduced the price of credit information services for all products and services developed and provided by CIC to credit institutions.

The agency said that the reduction in the price of credit information services has helped support credit institutions and reduce operating costs in order to reduce lending interest rates to support businesses and individuals to access capital from credit institutions.

This decision is one of activities to concretize the SBV's policy to support credit institutions to lower lending rates. At the same time, this decision is also in the roadmap to reduce the price of CIC's products and services from 2015.

Accordingly, CIC has actively applied advanced technology system to automate the process of gathering, processing and supplying information; improved the system of products and services for credit business and risk management of credit institutions.

Particularly, the State Bank of Vietnam (CIC) has seriously implemented Resolution No. 19 and Resolution No. 35 of the Government on implementing measures to improve the business environment, enhance national competitiveness, actively implement the action plan of the State Bank of Vietnam to implement the Government's resolutions, contributing to the improvement of Vietnam's credit access index to 29/190 countries and territories.

Accordingly, credit information coverage increased to over 51% of adult population, depth of credit information index is maintained at 7/8 points, higher than the East Asia-Pacific region and high-income countries of the Organization for Economic Co-operation and Development (OECD).
In order to achieve targets, CIC has actively implemented some new tasks such as deploying the electronic portal connecting directly with borrowers; linking information with ministries and sectors, which collects 100% of business information from the Ministry of Planning and Investment; formulating and implementing a project on information connection with the Ministry of Public Security; expanding the sources of information from voluntary organizations such as Development Investment Funds, Environmental Protection Funds, etc. in provinces, cities, etc.
Hong Ngoc
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