In 15 and 16 July 2016, the State Bank of Vietnam (SBV) in coordination with the French Development Agency (AFD) organized a workshop on “Development Orientations for the Microfinance Sector in Vietnam”. The workshop was under a technical assistance project to improve legal framework and strengthen management and supervision capacity of the microfinance sector in Vietnam. This was an important activity, contributing to implement the Project of building and development of the microfinance system in Vietnam through 2020 approved under Decision No. 2195/QD-TTg dated 06/12/2011 of the Prime Minister.
Participants included Mr. Jagdeep Dahiya – Consultants’ team leader, Microsave (India), Mr. Hoang Quoc Manh – Deputy Director of the Department of Credit Institutions and Banking Activities Licensing Management and other management of SBV, representatives of the People’s Committee, the Department of Home Affairs, the Department of Planning and Investment and the State Bank of Thai Nguyen province, Women’s Unions of 8 northern provinces (Phu Tho, Thai Nguyen, Vinh Phuc, Bac Kan, Lang Son, Cao Bang, Ha Giang, Bac Giang) and representatives of TYM
There were numerous key issues shared and discussed in the workshop. They included microfinance development strategy in Vietnam, overview of Vietnam microfinance sector, microfinance development trends in the world and in Vietnam, and among others. As the first official MFI in Vietnam, the representative of TYM shared about difficulties and challenges during the transition and development of an MFI in the current context of insufficient policy mechanisms.
The workshop also offered the participants a chance to visit TYM Song Cong branch, Thai Nguyen province so that they could understand more about microfinance activities. They visited center 15 in Hoa Binh hamlet, Kha Son commune, Phu Binh district, Thai Nguyen where they observed daily activities of a center including weekly repayment collection, approval of loans, and cultural activities of members. Witnessing the joyful atmosphere and feeling the spirit of unity and enthusiasm of TYM’s members, the representatives of SBV said such the cohesion and solidarity had brought sustainable development not just for women, their families but also for TYM. The SBV then expressed thanks and presented gifts to the center.
The workshop ended with the prospect of rapid and sustainable development of the microfinance sector in the near future, along with appropriately amended and supplemented policy mechanisms to support the sector’s development.
Song Cong Branch, Thai Nguyen