PHÁT TRIỂN HOẠT ĐỘNG TÍN DỤNG XUẤT KHẨU TẠI NGÂN HÀNG PHÁT TRIỂN VIỆT NAM

BỘ GIÁO DỤC VÀ ĐÀO TẠO NGÂN HÀNG NHÀ NƯỚC VIỆT NAM TRƯỜNG ĐẠI HỌC NGÂN HÀNG TP HỒ CHÍ MINH NGUYỄN THỊ HIỀN PHÁT TRIỂN HOẠT ĐỘNG TÍN DỤNG XUẤT KHẨU TẠI NGÂN HÀNG PHÁT TRIỂN VIỆT NAM LUẬN ÁN TIẾN SỸ KINH TẾ TP HỒ CHÍ MINH - NĂM 2017 BỘ GIÁO DỤC VÀ ĐÀO TẠO NGÂN HÀNG NHÀ NƯỚC VIỆT NAM TRƯỜNG ĐẠI HỌC NGÂN HÀNG TP HỒ CHÍ MINH NGUYỄN THỊ HIỀN PHÁT TRIỂN HOẠT ĐỘNG TÍN DỤNG XUẤT KHẨU TẠI NGÂN HÀNG PHÁT TRIỂN VIỆT NAM LUẬN ÁN TIẾN SỸ KINH TẾ Chuyên ngành : Tài Ngân hàng Mã số : 62.34.02.01 NGƯỜI HƯỚNG DẪN KHOA HỌC: PGS.TS ĐOÀN THANH HÀ TP HỒ CHÍ MINH - NĂM 2017 i LỜI CAM ĐOAN Tôi tên là: Nguyễn Thị Hiền Ngày tháng năm sinh : 17/01/1982 Nơi sinh: Thành phố Hồ Chí Minh Quê quán: Xã Liên Thủy, Huyện Lệ Thủy, Tỉnh Quảng Bình Cơ quan công tác: Khoa Kế toán – Kiểm toán Trường Đại học Ngân hàng TP Hồ Chí Minh Là nghiên cứu sinh khóa 18 Trường Đại học Ngân hàng TP Hồ Chí Minh Đề tài luận án: “Phát triển hoạt động tín dụng xuất Ngân hàng Phát triển Việt Nam ” Chuyên ngành: Tài – Ngân hàng; Mã số: 62 34 02 01 Người hướng dẫn khoa học: PGS.TS Đoàn Thanh Hà Tôi xin cam đoan: Luận án công trình nghiên cứu thân, toàn nội dung luận án chưa công bố công trình NCKH, Tạp chí khoa học hay tài liệu tham khảo Luận án thực theo quy định quy trình đào tạo trình độ tiến sỹ Kết nghiên cứu luận án trung thực, mang tính độc lập NCS, ngoại trừ trích dẫn từ nguồn tài liệu tham khảo Tất thông tin số liệu luận án dẫn nguồn gốc rõ ràng Tôi xin chịu hoàn toàn trách nhiệm lời cam đoan danh dự / TP Hồ Chí Minh, ngày tháng Nguyễn Thị Hiền năm 2017 ii LỜI CẢM ƠN Để hoàn thành luận án này, cố gắng lao động nghiên cứu khoa học thân, có giúp đỡ to lớn Nhà trường, Thầy, Cô, bạn bè đồng nghiệp Tôi xin gửi lời trân trọng cảm ơn đến: • Quý Thầy, Cô Ban Giám hiệu nhà trường, lãnh đạo Phòng, Khoa đội ngũ giảng viên Trường Đại học Ngân hàng TP Hồ Chí Minh giúp đỡ, giảng dạy, truyền đạt kiến thức cho suốt trình học tập Trường • PGS;TS Đoàn Thanh Hà, người HDKH hướng dẫn, giúp đỡ trình nghiên cứu • Các cô, chú, anh chị công tác Ngân hàng Phát triển Việt Nam tận tình giúp đỡ, đọc, góp ý số nội dung thảo luận án • Các bạn học khóa, bạn bè người thân động viên, giúp đỡ trình học tập nghiên cứu Trân trọng ! Tác giả luận án Nguyễn Thị Hiền iii MỤC LỤC PHẦN MỞ ĐẦU CHƯƠNG CƠ SỞ LÝ LUẬN VỀ TÍN DỤNG XUẤT KHẨU VÀ TÍN DỤNG XUẤT KHẨU CỦA NHÀ NƯỚC 23 1.1 TỔNG QUAN VỀ TÍN DỤNG XUẤT KHẨU 23 1.1.1 Khái niệm hình thức tín dụng xuất 23 1.1.1.1 Khái niệm tín dụng xuất (TDXK) 23 1.1.1.2 Các hình thức tín dụng xuất 24 1.1.2 Vai trò tín dụng xuất 27 1.2 TÍN DỤNG NHÀ NƯỚC VÀ TÍN DỤNG XUẤT KHẨU CỦA NHÀ NƯỚC 29 1.2.1 Tín dụng nhà nước 29 1.2.1.1 Khái niệm tín dụng nhà nước 29 1.2.1.2 Đặc điểm tín dụng nhà nước 30 1.2.1.3 Mục tiêu hoạt động tín dụng nhà nước 31 1.2.1.4 Vai trò tín dụng nhà nước 32 1.2.2 Tín dụng xuất Nhà nước 34 1.2.2.1 Khái niệm tín dụng xuất Nhà nước 34 1.2.2.2 Khuôn khổ pháp lý tín dụng xuất Nhà nước Việt Nam 37 1.2.3 Phân biệt tín dụng xuất Nhà nước tín dụng xuất Ngân hàng thương mại 42 1.2.3.1 Những điểm tương đồng 42 1.2.3.2 Những điểm khác biệt 43 1.3 QUAN ĐIỂM VỀ PHÁT TRIỂN TÍN DỤNG XUẤT KHẨU CỦA NHÀ NƯỚC 44 1.3.1 Tổng quan phát triển 44 1.3.2 Các tiêu chí phát triển tín dụng xuất Nhà nước 46 1.3.2.1 Phát triển tín dụng xuất Nhà nước số lượng quy mô 47 1.3.2.2 Phát triển tín dụng xuất Nhà nước chất lượng hiệu 48 iv 1.4 TÍN DỤNG XUẤT KHẨU CỦA NHÀ NƯỚC TẠI MỘT SỐ QUỐC GIA TRÊN THẾ GIỚI VÀ BÀI HỌC KINH NGHIỆM CHO VIỆT NAM 51 1.4.1 Tín dụng xuất Nhà nước số nước giới 51 1.4.2 Bài học kinh nghiệm cho Việt Nam tín dụng xuất Nhà nước 61 KẾT LUẬN CHƯƠNG 68 CHƯƠNG THỰC TRẠNG PHÁT TRIỂN TÍN DỤNG XUẤT KHẨU CỦA NHÀ NƯỚC TẠI NGÂN HÀNG PHÁT TRIỂN VIỆT NAM 69 2.1 KHÁI QUÁT VỀ NGÂN HÀNG PHÁT TRIỂN VIỆT NAM 69 2.1.1 Tổng quan Ngân hàng Phát triển, trình hình thành Ngân hàng Phát triển Việt Nam 69 2.1.1.1 Tổng quan Ngân hàng Phát triển (Development Bank) 69 2.1.1.2 Quá trình hình thành Ngân hàng Phát triển Việt Nam 70 2.1.2 Cơ cấu tổ chức quản lý Ngân hàng Phát triển Việt Nam 72 2.1.3 Đặc điểm hoạt động Ngân hàng Phát triển Việt Nam 73 2.1.4 Nguồn vốn hoạt động hoạt động Ngân hàng Phát triển Việt Nam 74 2.1.5 Chức năng, nhiệm vụ Ngân hàng Phát triển Việt Nam 75 2.1.6 Kết hoạt động Ngân hàng Phát triển VN giai đoạn 2011 – 201577 2.1.6.1 Đối với kinh tế xã hội 77 2.1.6.2 Đối với tồn phát triển Ngân hàng Phát triển Việt Nam 80 2.2 THỰC TRẠNG PHÁT TRIỂN TÍN DỤNG XUẤT KHẨU CỦA NHÀ NƯỚC TẠI NGÂN HÀNG PHÁT TRIỂN VIỆT NAM 89 2.2.1 Khái quát hoạt động nghiệp vụ Ngân hàng Phát triển Việt Nam 89 2.2.2 Thực trạng phát triển tín dụng xuất Nhà nước NHPT Việt Nam 91 2.2.2.1 Phát triển tín dụng xuất Nhà nước quy mô số lượng 91 2.2.2.2 Phát triển tín dụng xuất Nhà nước mặt chất lượng hiệu 101 2.2.2.3 Phát triển loại hình thức bảo lãnh tín dụng xuất 104 2.3 KHẢO SÁT VÀ ĐÁNH GIÁ TÌNH HÌNH PHÁT TRIỂN TÍN DỤNG XUẤT KHẦU CỦA NHÀ NƯỚC TẠI NGÂN HÀNG PHÁT TRIỂN VIỆT NAM 107 v 2.3.1 Khảo sát tín dụng xuất Nhà nước Ngân hàng Phát triển Việt Nam 107 2.3.2 Đánh giá tình hình phát triển TDXK Nhà nước Ngân hàng Phát triển Việt Nam 111 2.3.2.1 Những kết đạt 111 2.3.2.2 Những hạn chế nguyên nhân 114 2.4 GIẢ THUYẾT VỀ CHÍNH SÁCH TÍN DỤNG XUẤT KHẨU CỦA NHÀ NƯỚC TẠI VIỆT NAM 122 2.4.1 Tiếp tục trì mở rộng Chính sách tín dụng xuất Nhà nước 122 2.4.2 Đổi mô hình thực Chính sách tín dụng xuất Nhà nước 123 2.4.3 Chấm dứt Chính sách tín dụng xuất Nhà nước 125 KẾT LUẬN CHƯƠNG 127 CHƯƠNG PHÁT TRIỂN HOẠT ĐỘNG TÍN DỤNG XUẤT KHẨU CỦA NHÀ NƯỚC TẠI NGÂN HÀNG PHÁT TRIỂN VIỆT NAM 128 3.1 CHIẾN LƯỢC PHÁT TRIỂN VIỆT NAM VÀ CHIẾN LƯỢC PHÁT TRIỂN NGÂN HÀNG PHÁT TRIỂN VIỆT NAM ĐẾN NĂM 2020 128 3.1.1 Chiến lược phát triển bền vững Việt Nam đến năm 2020 128 3.1.1.1 Quan điểm phát triển kinh tế xã hội 128 3.1.1.2 Mục tiêu chiến lược khâu đột phá 128 3.1.1.3 Định hướng phát triển kinh tế - xã hội 129 3.1.2 Chiến lược phát triển Ngân hàng Phát triển Việt Nam đến năm 2020 130 3.1.2.1 Mục tiêu phát triển Ngân hàng Phát triển Việt Nam 130 3.1.2.2 Định hướng hoạt động Ngân hàng Phát triển Việt Nam 131 3.2 GIẢI PHÁP PHÁT TRIỂN TÍN DỤNG XUẤT KHẨU CỦA NHÀ NƯỚC TẠI NGÂN HÀNG PHÁT TRIỂN VIỆT NAM 135 3.2.1 Giải pháp phía Ngân hàng Phát triển Việt Nam 135 3.2.1.1 Sửa đổi, bổ sung quy chế quản lý vốn tín dụng xuất cho phù hợp 135 vi 3.2.1.2 Tăng cường huy động vốn toàn hệ thống Ngân hàng Phát triển Việt Nam 136 3.2.1.3 Kiện toàn máy quản lý tín dụng theo hướng mở rộng phân quyền 138 3.2.1.4 Tuân thủ nghiêm ngặt quy trình tín dụng xuất 139 3.2.1.5 Tăng cường công tác kiểm tra nội 143 3.2.1.6 Tăng cường tiếp thị quảng bá thương hiệu Ngân hàng Phát triển VN 144 3.2.1.7 Phối hợp với Ngân hàng thương mại hoạt động nghiệp vụ 145 3.2.1.8 Mở rộng nghiệp vụ bảo lãnh xuất 145 3.2.1.9 Sớm triển khai phương thức “tín dụng xuất chiều” 147 3.2.2 Giải pháp phía doanh nghiệp xuất 149 3.2.2.1 Thông hiểu sách Chính phủ tín dụng xuất 149 3.2.2.2 Tăng cường đổi công nghệ, tăng chất lượng sản phẩm xuất 150 3.2.2.3 Am hiểu thị trường giới phương thức kinh doanh đại 150 3.2.2.4 Nâng cao lực cạnh tranh xuất thị trường quốc tế 151 3.2.2.5 Tăng cường công tác quản lý tài doanh nghiệp 151 3.2.3 Giải pháp phối hợp 152 3.2.3.1 Triển khai nhanh loại hình bảo hiểm tín dụngxuất 152 3.2.3.2 Khẩn trương thành lập công ty bảo hiểm tín dụng xuất Nhà nước 155 KẾT LUẬN CHƯƠNG 157 PHẦN KIẾN NGHỊ & KẾT LUẬN 158 KẾT LUẬN 162 DANH MỤC CÁC CÔNG TRÌNH KHOA HỌC ĐÃ CÔNG BỐ 163 DANH MỤC TÀI LIỆU THAM KHẢO 164 vii DANH MỤC CÁC TỪ VIẾT TẮT Chữ viết tắt Tiếng Anh Tiếng Việt Ngân hàng Phát triển Á châu ADB Asia Development Bank AEC Agreement onExport Credit Hiệp định tín dụng xuất ASMC Agreement on Subsidies Hiệp định trợ cấp biện and Countervailing pháp đối kháng Measures Bảo hiểm tín dụng xuất BHTDXK BICV Bank For Investment and Ngân hàng Đầu tư Xây dựng Construct Bank of VN Việt Nam Bảo lãnh tín dụng xuất BLTDXK BLĐT Bảo lãnh đấu thầu BLĐT BL đấu thầu & thực hợp &THHĐ đồng Bộ chứng từ BCT Cán tín dụng CBTD DB Development Bank DN Ngân hàng Phát triển Doanh nghiệp Doanh nghiệp nhỏ vừa DNNVV ECI Export Credit Insurance Bảo hiểm tín dụng xuất ECAs Export Credit Agencies Tổ chức tín dụng xuất GTCG Giấy tờ có giá HĐV Huy động vốn HĐNV Hoạt động nghiệp vụ HĐQT Hội đồng quản trị HTXK Hỗ trợ xuất IDGD Investment Development General Department Tổng cục Đầu tư Phát triển viii LIDF L/C Local Investment Quỹ Đầu tư Phát triển địa Development Fund phương Letter of Credit Thư Tín dụng Máy tính, Phụ kiện, Linh kiện MT, PK, LK Nghiên cứu sinh NCS NHNN Ngân hàng Nhà nước NHTM Ngân hàng thương mại Ngân hàng thương mại nhà NHTM NN nước NHTM CP Ngân hàng thương mại cổ phần NHLD & NN Ngân hàng liên doanh ngân hàng 100% vốn nước NHPT NIAF Ngân hàng Phát triển National Investment Quỹ Hỗ trợ Đầu tư Quốc gia Assistance Fund NLTS Nông Lâm Thủy sản NSNN Ngân sách Nhà nước ODA Official Development Viện trợ Phát triển Chính thức Assistance OECD Organization Economic Tổ chức Hợp tác Phát triển Coparation & Development Kinh tế Phát hành giấy tờ có giá PH.GTCG ROA Return on Asset Tỷ suất lợi nhuận tài sản ROE Return on Equity Tỷ suất lợi nhuận vốn CSH SPCN Sản phẩm công nghiệp SXKD Sản xuất kinh doanh TCKT Tổ chức kinh tế TCMN Thủ công Mỹ nghệ TCTD Tổ chức tín dụng TCTD phi NH Tổ chức tín dụng phi ngân hàng 14 decreased from 20,637,792 to 18,246,466 (a decrease of 18%)  Average loan balance: The actual number of outstanding loans from 2011 to 2015 compared with the planned targets of average outstanding loans was not met  Real growth in average loan balance of export credit In terms of scale and quantity, the development of export credit of the State at VDB during 2011 to 2015 is not contented enterprises’ expectation ► Export credit development in both scale and quantity according to actual data  State-owned export credit development in context of borrower categories Borrowers of export credit at VDB are divided into two groups, including state-owned enterprises and non-state-owned enterprises The size and structure of export credit debt balance over the years have focused on stateowned enterprises Although the proportion of export credit to non-state-owned enterprise is still low, however it shows an increase trend Table 2:11 Export credit debt in VDB and outstanding growth rate of customers from 2011 to 2015 Unit: million VND, % TARGETS 31/12/ 2011 31/12/2012 31/12/2013 31/12/2014 31/12/201 16.226.757 10.247.736 10.295.247 8.838.977 10.233.121 0,92 % (36,85%) 0,46% (14,15%) 15,17% 14.026.825 8.752.591 8.560.498 7.161.339 8.160.914 86,23 % 85, 41 % 83,15% 81,02 % 79,75% 0,21% 37,61%) (2,2%) (16,35%) 13,96% 2Non State Enterpries 2.239.932 1.495.145 1.734.749 1.677.638 2.072.207 Proportion 13,77 % 14,59 % 16,85 % 18,98 % 20,25% Growth rate 7,65% (33,26%) 16,03% (3,30%) 23,52% Export credit Debt % Growth State Enterprises Proportion Growth rate Source: Data research topics  State-owned export credit development based on exports group Table 2.12: Export credit debt in VDB in VDB and growth rate by commodity group from 2011 -2015 TARGETS EC Debt Growth rate 31/12/ 2011 31/12/2012 Unit: million VND, % 31/12/2013 31/12/2014 31/12/2015 16.226.757 10.247.736 10.295.247 8.838.977 10.233.121 0,92 % (36,85%) 4,06% (14,15%) 15,17% 15 1.AFF 13.797.611 8.566.083 8.580.059 7.383.197 8.561.029 Proportion 85,03 % 83,59% 83,34% 83,53 % 83,66% Growth rate ( 0,65%) (37,02%) 0,16% (13,95%) 15,95% Crafts 1.260.819 880.281 911.129 788.437 898.460 Proportion 7,77 % 8,59 % 8, 85 % 8,92 % 8,78% Growth rate 12,98% (30,12%) 3,50% (13,47%) 13,95% 3.P I 954.133 979.738 643.453 549.784 638.547 Proportion 5, 88 % 6,03 % 6,25 % 6,22 % 6,24% Growth rate 6,72% 2,68% (34,37%) (14,56%) 16,15% 214.193 232.343 160.606 117.558 135.077 Proportion 1,32 % 1,43 % 1,56 % 1,33 % 1,32% Growth rate 8,30% 8,47% (30,88%) (26,01%) 14,90% 4.CCA Source: Data research topics  State-owned export credit development based on export market regions US market (about 15%); EU market (54%); Japanese market (over 11%); South-East Asian markets (around 45); Russian market (about 4%;); Chinese market (nearly 5%), South Korea (about 2.7%); Other markets such as Brazil, Mexico, Myanmar and other countries (about 26%) 2.2.2.2 State-owned export credit development in both quality and efficiency The quality of export credit of the State at Vietnam Development Bank from 2011 to 2015 was improved gradually: The debt ratio during 2011, 2012, 2013 was around 80%, the debt ratio significantly reduced by 59.60% in 2014 making the overdue and bad debts high However, the situation had been improved in 2015 In sum up, export credit of the State quality had improved in a positive direction Bad debts had been controlled and reduced by 7,02% as planned Table 2.15 Export credit Debt classification from 2011 -2015 at VDB Unit: million VND TARGETS 31/12/ 2011 31/12/2012 31/12/2013 31/12/2014 31/12/2015 16.226.757 10.247.736 10.295.247 8.838.977 10.233.121 Growth rate 0,92 % (36,85 %) 0,46% (14,15%) 15,17% Term debt 13.151.787 7.535.685 8.464.752 5.267.714 8.584.934 81,05 % 73,54 % 82,22 % 59,60% 83,91% EC Debt Proportion 16 Overdue Debt Proportion Inside: Bad debt Proportion 3.074.242 2.712.051 1.830.495 3.571.263 1.610.072 18,95% 26,46% 17,79 % 40,40% 16,04% 1.567.504 978.659 932.749 758.384 718.365 9,66 % 9,55 % 9,06% 8,58 % 7, 02% Source: Data research topics  Provision for export credit of the State risks The provision for credit risks at VDB is strictly implemented The Prime Minister determines cases of debt cancellation and debt sale as submitted by the Ministry of Finance at the proposal of VDB’s Chairman Thus, the use of risk provision to deal with risks arising from debt group 5th (potentially defaulted) is carried out once a year under the unified direction of the Board of Directors and the Executive Board at the request of the Committee of Specialists 2.2.2.3 Development of export credit guarantee ►Types of export guarantee at Vietnam Development Bank  Export credit guarantee Export credit guarantee is a written commitment of VDB to credit organisations for export borrowers to repay on behalf of customers (the guaranteed) if those customers have failed to pay the debt or indebted to credit institutions under the contract  Bid security and export contract fulfilment Bid security is a written commitment of Vietnam Bank Development to the bidder who is a foreign organisation to perform his/her obligations on behalf of the contractor who is a Vietnamese economic organisation in case the contractor failed to perform the binding contract The bid security of the export contracts is a written commitment of Vietnam Bank Development to the importer who is a foreign economic organization to perform his/her obligations on behalf of the exporter who is an economic organization of Vietnam if the Vietnamese exporter has failed to perform or insufficiently performed the provisions of the contract signed with the foreign importer ►Development of export guarantee at Vietnam Development Bank VDB is a financial institution of the Government with strong financial capacity and guaranteed by the Government for payment Therefore, VDB’s guarantees are trusted by financial institutions and economic organisations However, the actual data shows that 17 VDB's guaranteed activities are too modest, inadequately with the position and potential of VDB within Vietnam's financial system 2.3 SURVEY AND ASSESSMENT OF EXPORT CREDIT OF THE STATE DEVELOPMENT AT VIETNAM DEVELOPMENT BANK 2.3.1 Survey of export credit of the State at Vietnam Development Bank Survey results are statistically collected for the research purposes 2.3.2 Assessment of export credit of the State development at VDB 2.3.2.1 Results Firstly: to complete export credit of the State policy at the basic level Secondly: to improve the quality and efficiency of credit management 2.3.2.2 Limitations and reasons ►Limitations  Debt balance and lending turnover of the export credit of VDB are still minor in comparison with the bank’s scale and position  Export credit of the State model at VDB is monotonous  Although regulations and rules on lending, debt management, debt collection in the export credit have changed, however, flexibility needed to be improved further  Credit limit-based lending method is an advanced method of lending, but the lending approval process is still rigid and unattractive to borrowers  Though credit rating is innovative, still subjectivity is remained due to the assessing criteria are not based on reliable data  Supervision, management and collection of debts have not been planned based on the borrower’s cash flow  The number of State-owned export credit borrower at VDB is not high  There are also limitations in management lowering the credit quality, particularly bad debt rates remain high ►Causes of limitations  Causes of mechanisms and policies: binding responsibilities is too rigid  Subjective causes: Operations and management capability are still limited  Causes from borrowers: lack of consideration towards the export item’s quality, lack of adequate financial management and deliberate violation of regulations 18  Impacts of the global economic environment 2.4 ASSUMPTION OF EXPORT CREDIT OF THE STATE POLICY IN VIETNAM 2.4.1 Maintain and expand of export credit of the State policy Firstly, development of export credit of the State policy at VDB for more than 10 years has showed that this policy has promoted the certain socio-economic benefits Secondly, the author finds that most countries, including industrialized and developing countries, not hesitate to develop and implement export credit of the State policy with the aim of export enhancement Countries, with strong banking systems, have a very strong support policy to implement export credit of the State policy to boost the advantages to their businesses In such a fierce competition environment, Vietnam cannot stand to suffer from its loss in exporting its goods to the rest of the world Thirdly, although export credit of the State policy in Vietnam has increased the budget burden because of subsidising interest rate differences, this is acceptable 2.4.2 Renovation of export credit of the State policy model  Model renovation will take advantages of commercial bank’s experience and strength; in turn, the export credit-based turnover and debt balances will increase significantly  Commercial banks participating in the development of export credit of the State policy are those with extensive networks They have the agent relation to hundreds of banks in the world, as well as banks performing international banking services with highly professional quality Thus, these commercial banks can monitor their cash flows to control the debt collection and take appropriate credit risk management measures 2.4.3 Termination of export credit of the State policy Assumption of termination of export credit of the State policy would less likely to be accepted, because: Firstly, export credit of the State activities at VDB have been implemented for more than 10 years and have had accumulated substantial experiences, also, these activities have been steadily operated Secondly, the world is facing with tough economic and commercial competition in many different forms; particularly export credit of the State policy is one of the most effective instruments Therefore, no country, including US, has abandoned this important 19 instrument Vietnam could use this instrument to enhance the exports to the market Thirdly, export credit of the State is not only an economic instrument, but also a social and political instrument Through export credit of the State instrument, many countries have increased their influence over other countries by the implementing subsidising policy for foreign importers, making beneficiaries are increasingly dependent on donors Countries with strong financial backgrounds can this, nevertheless, other countries may also have these opportunities Through analysis and explanation of three (3) assumptions above, the author believes that assumption one (1) is considered as the best approach for development of export credit of the State in Vietnam Chapter DEVELOPMENT OF EXPORT CREDIT OF THE STATE ACTIVITIES AT VIETNAM DEVELOPMENT BANK 3.1 VIETNAM STRATEGIC DEVELOPMENT PLAN AND VIETNAM DEVELOPMENT BANK STRATEGIC DEVELOPMENT PLAN UNTIL 2020 3.1.1 Vietnam strategic development plan until 2020 3.1.2 VDB strategic development plan until 2020 3.1.2.1 VDB strategic goals General goals: Maintaining and developing VDB as a bank for social policies with non-for-profit drive, also with sustainable and efficient development, adequate capability in the implementation of Investment Credit and State-owned export credit policies as well as other designated mission by the Government, Prime Minister; taking part in achieving social economic strategic and development plan Specific goals  Sustaining credit growth around 10%/per year for the period 2016 – 2020, given that, VDB’s asset in 2020 would reach 500.000 billion VND After 2020, credit growth level would remain reasonable in regard with social-economic development  Determining the proportion between shareholder equity and capital mobilisation Having a progress plan to increase reasonably shareholder equity compared to total outstanding balance of VDB’s export credit appropriately for each specific period of time 20  Advancing the credit quality with the aim to reduce the total bad debt proportion to under 7% in 2015, 4-5% in 2020 and this proportion would be under 3% for the period of 2020 – 2030  Standardising banking procedure to meet the development support requirement by the Party and State 3.1.2.2 VDB’s operational orientation  Serving subjects  Safe financing indicators  Renovation of banking management  Restructuring of banking operations: 1st period up to 2015; 2nd period from 2016 to 2020 and 3rd period beyond 2020 3.2 SOLUTION FOR THE DEVELOPMENT OF CREDIT OF THE STATE ACTIVITIES AT VIETNAM DEVELOPMENT BANK 3.2.1 Suggestions for VDB 3.2.1.1 Revising management regulation of export credit in line with practical circumstances The revision of management regulation is to strengthen the managing of export credit with the aim to improve the efficiency and the promotion of export in the new era:  Expanding the subject of export credit granting  Adding regulation for fishery industry in which specifies the conditions of selling aquatic products to seafood processing companies  New regulation on risk management and risk approaches regarding export credit of the State  With loan guarantee level: new regulation should be made on that the loan guarantee level would be at maximum of 90% of total exporting contract value or the financial requirement of the company 3.2.1.2 Increase the capital mobilisation of VDB  Issuing VDB’s bond, which is guaranteed by the State, as a main capital source  Researching and preparing of the issuing of mentioned VDB’s bond to capital markets around the world 3.2.1.3 Strengthen the credit management with decentralised distinctive 21  The purpose of strengthening the credit management: to build an efficient onlinebased credit management system as a mean to fulfil customer’s credit demand at VDB  Decentralising the credit approval process: this could lead to a necessary growth for export credit activities 3.2.1.4 Strictly follow the export credit procedure This type of activity, export credit, contains potential risk within, thus, it is a mustcomplied requirement that all export credit procedures should be followed accordingly such as: improving credit approval, detecting and controlling for bad debt 3.2.1.5 Need of internal control activities Internal control plays an important role in advancing both the quality of management and the quality of export credit activity 3.2.1.6 Growing of VDB’s promotion From marketing aspect  To list targeted customers which are companies operating in exporting industries for approaching purpose  To inspect the potential and demand of both current and going-to-be customer for appropriate credit policies  To promote the State’s credit policy in stimulating exporting activities and to play a supporting role for companies in need From VDB’s brand promotion aspect  Through vary channels to publicise the VDB’s image towards companies in different economic sectors with the aim to gain a comprehend of VDB’s operations, missions, and supporting role regarding to export credit ground 3.2.1.7 Cooperating with other commercial banks in export credit function  To maintain a regularly direct communication with commercial banks or through State Bank’s Credit information central for any update of customer’s status  To hold meetings, conferences for the purpose of engaging local commercial bank’s support  To sign operational agreement with other commercial banks 3.2.1.8 Extending the export services  To extend the export credit guarantee services 22  To extend the bid security and export contract fulfilment services 3.2.1.9 Deploying “two-way export credit” practice The “two-way export credit” practice was implemented by many countries around the world as a mean for national exporting elevation This practice could be considered as a subsidising approach for both exporters and importers For that reason, a stimulating export could be encouraged However, such practice could be seen as a difficult task for countries that have weak financing system such as Vietnam 3.2.2 Suggestions for exporting companies 3.2.2.1 Comprehending of State’s export credit policy 3.2.2.2 Strengthening both the technology innovation and the quality of exporting items 3.2.2.3 Exploring of world markets and modern business approaches 3.2.2.4 Advancing exporting competing capability 3.2.2.5 Strengthening business financial management 3.2.3 Suggestion for in-cooperation 3.2.3.1 Deploying insurance services for export credit activities 3.2.3.2 Establishing export credit of the State Insurance company RECOMMENADTIONS AND CONCLUSIONS RECOMMENADTIONS Recommendations for the State 1.1 Expanding the list of products subjected to export credits It is necessary to expand list of mentioned products Specifically, the government should focus on high-tech products or multi-staged products and to reduce the export of raw material This kind of action could help in restructuring export characteristic In long-term, as the capital need are adequate, the government could remove restricted list of product subjected to export credits paving opportunities for other products in the future 1.2.Expanding “export credit institution” model in Vietnam VDB is current the only institution designated by the State to employ export credit 23 policy in Vietnam This does not certainly mean for a monopoly position, however, with only one designated institution, such as VDB, it is believed that the efficiency and scale of export credit policy remains at modest level The actual data has showed for such belief Thus, author would like to place a suggestion, for the State, on expanding the number of export credit institution in Vietnam as a method to increase export activities In order to implement State’s export credit policy, besides VDB, the government could appoint a number of commercial banks, with suitable reputation and experience, for similar duty such as Vietcombank, VietinBank, BIDV, Eximbank, etc 1.3 Adjusting for the frequency of interest rate announcement and shaping for a common frame of interest rate Leading cause of slowing growth in export credit activities at VDB includes the impact of interest rate announcement Therefore, the author believes that VDB should actively implement State’s export credit policy The Ministry of Finance could regulate the limit for the export credit interest rate, including Floor Interest rate and Cell Interest rate, that VDB could announce and adjust within that limit accordingly with the interest rate movements on the market 1.4 Allowing VDB with implementation of lending to export chains The combination among production chains has become more popular in many industries and sectors; it proves to provide businesses with high level of efficiency Therefore, commercial banks have increased the credit granting to export chains The research would recommend for an allowance of this type of export chains model Recommendations for the Ministries, Central and Local authorities 2.1 Recommendations for Ministry of Finance Perfecting and creating legal framework for VDB’s activities in a professional and efficient manner which lead to a contribution in increasing potentials and enhancing national competitiveness Reconciling between the State Bank and VDB on Risk Management and Financial Management regulations which best meets VDB’s in the new developing phase 2.2 Recommendation for Ministry of Planning and Investment To strike a balance between medium and long-term plans on investment credit capital 24 and State’s export credit capital Especially, the Ministry of Planning and Investment would remain the balance of export credit to encourage export activities By this, VDB could become more active in performing its tasks to develop the export credit To coordinate with the Ministry of Finance in arranging financial resources and implementing the VDB's strategic plan, in the direction of enhancing and strengthening VDB’s financial capacity These two Ministries need to come to a solution in dealing with the subsiding of VDB’s outstanding interest rate gap 2.3 Recommendations for the State Bank To provide guidance on the classification of debt which best fit VDB’s nature and operation; To issue VDB with a license for foreign exchange activities; To play an initiative role in assigning appropriate tasks to some prestigious commercial banks with strong financial capacity and experience to coordinate with VDB regarding State’s export credit policy To assist VDB in improving credit performance and credit risk management 2.4 Recommendation for People's Committee Central and local authorities hold an important part in cooperating and supporting for VDB’s activities In order to accelerate the expansion and development of State’s export credit activities, the People's Committees need to direct related agents for the dissemination of information to companies It could be benefit for these companies with timely-comprehension of policies implemented by the government as well as VDB’s export credit procedures The People's Committees should take a more active role in resolving interest rate support so that businesses’ confidence would improve Especially, with legal assistance through provincial departments, committees, provincial people's committees should regularly provide adequate information about the risks that VDB is facing when carrying out their export 25 CONCLUSIONS Export credit is important to the economy, especially when Vietnam is accelerating its international integration process It could be seen that export credit in general and State’s export credit in particular promote the economic growth and national competitiveness on international market Therefore, it is essential for the Government to adopt supporting policies that could in turn help to achieve mentioned objectives State-owned export credit activities at VDB have not performed well in terms of quantity and quality However, these activities have helped in promoting the economy effectiveness Further expansion and development of State’s export credit is necessary requirement for the current stage of development The thesis presented theoretical, practical and solution issues on this subject matter There are three conclusions that could be drawn from this research: Through the study on the theory of State’s export credit, the thesis has clarified the theoretical basis, thereby to affirm scientific ground for the development of State’s export credit in Vietnam From the practical result, the research has summarised and analysed the development and limitations of State's export credit activities at the VDB The result is rather acceptable The research suggests that in order to develop the State's export credit both in quantity and quality the implementation of mentioned scientific and practical solutions is needed In addition, it is necessary to study the proposed recommendations, for the government and central ministries, as suggestions may help to create a complete legal framework for the subject matter Also, this framework, in turn, would support VDB in accomplishing its designated mission in the period./ 26 DANH MỤC CÁC CÔNG TRÌNH KHOA HỌC ĐÃ CÔNG BỐ Bài báo “Tín dụng vai trò tín dụng Nhà nước Việt Nam – Lý luận thực tiễn”.Tạp chí Kinh tế - Kỹ thuật Số 11, tháng 9/2015 Bài báo “Mở rộng hoạt động TDXK Nhà nước để thúc đẩy kinh tế Việt Nam phát triển giai đoạn nay” Tạp chí Kinh tế - Công nghiệp Số 07, tháng 11/2015 Bài báo: “ Đẩy mạnh xuất hàng hóa Việt Nam công cụ Bảo hiểm tín dụng xuất khẩu” Tạp chí Ngân hàng Số 10 tháng 5/ 2016 Sách chuyên môn Nghiệp vụ Ngân hàng thương mại NXB Đại học Quốc gia TP HCM năm 2013 (đồng tác giả) Sách chuyên môn Thẩm định tín dụng NXB Kinh tế TP.HCM, năm 2014 (đồng tác giả) Sách chuyên môn Quản trị kinh doanh Ngân hàng, NXB Kinh tế TP HCM, năm 2016 (đồng tác giả) Đề tài NCKH cấp Trường “Phát triển kinh doanh ngoại tệ ngân hàng thương mại cổ phần Việt Nam” năm 2014, Trường Đại học Ngân hàng TP.Hồ Chí Minh Đề tài NCKH cấp Trường “Các yếu tố ảnh hưởng đến rủi ro tín dụng – Bằng chứng thực nghiệm NHTM Việt Nam”, năm 2015, Trường Đại học Kinh tế TP Hồ Chí Minh MINISTRY OF EDUCATION AND TRAINING THE STATE BANK OF VIETNAM BANKING UNIVERSITY OF HO CHI MINH CITY INFORMATION ON NEW CONTRIBUTIONS OF DOCTORAL THESIS Thesis title: THE DEVELOPMENT OF EXPORT CREDIT ACTIVITIES AT THE VIETNAM DEVELOPMENT BANK Specialization: Finance and Banking; Code: 62.34.02.01 Postgraduate student’s full name: Nguyen Thi Hien; Course: 18th Scientific Instructor: Assoc Prof Dr Doan Thanh Ha Training place: Banking University of Ho Chi Minh City New contributions in academic theory; New arguments from the research results of the thesis 6.1 New academic contributions: Firstly, the thesis presents the academic concept which is relevant to the "State’s export credit" in theoretical system Secondly, the thesis systematically presents the content of scientific theory about “State’s export credit activities” at The Vietnam Development Bank It is believed that the current theoretical system, including textbooks and documents, does not cover this scientific content Thirdly, the thesis explains the similarities and differences between State’s export credit and the export credit of commercial banks Fourthly, the thesis presents suggestions for the State’s export credit policies that could be designed and implemented in Vietnam Fifthly, based on the criteria about the development of the State’s export credit both on scaleand effective aspect, the author supposes that the development of State’s export credit activities is an essential requirement to advance Vietnam’s export in the new period 6.2 New arguments from the research results: Firstly, by objectively summarizing and evaluating the successes and limitations in State’s export credit activities at the Vietnam Development Bank, it provides a practical base in assisting the management and VDB to have approaches adjustments Secondly, solutions are presented within the research results, include: • It is necessary to revise management regulation of export credit in line with practical circumstances The management regulation of the State’s export credit capitalis considered to be unsuitable in nowadaysperiod Therefore, the revision is needed to improve management effectiveness and advance Vietnam’s export • It is necessary to deploy “two-way export credit” practice Two-way export credit is a procedure in which the bank sponsored the exporter and the importer so that the exporter has financial resource to perform the export contract Also, the importer is financially supported with the import settlement • Deploying insurance services for export credit activities Export credit insurance is a financial solution to prevent risks exposed by the exporters in their operational activities This could be seen as a financial guarantee for national trading activities • Establishing the State-owned Export Credit Insurance company The establishment of Export Credit Insurance company is quite popular in many countries around the world This suggestion could new vitality to a broader, more effective and productive deployment of Vietnamese export credit insurance products and to promote Vietnam's exports • Expanding “export credit institution” model in Vietnam To research and establish the "export credit institution" by 100% State budget is crucial so that these organisations could undertake their main duty of executing the State’s export credit policy in Vietnam./ Scientific Instructor Postgraduate student Assoc Prof Dr Doan Thanh Ha Nguyen Thi Hien ... hướng hoạt động Ngân hàng Phát triển Việt Nam 131 3.2 GIẢI PHÁP PHÁT TRIỂN TÍN DỤNG XUẤT KHẨU CỦA NHÀ NƯỚC TẠI NGÂN HÀNG PHÁT TRIỂN VIỆT NAM 135 3.2.1 Giải pháp phía Ngân hàng Phát triển Việt. .. hoạt động Ngân hàng Phát triển Việt Nam 73 2.1.4 Nguồn vốn hoạt động hoạt động Ngân hàng Phát triển Việt Nam 74 2.1.5 Chức năng, nhiệm vụ Ngân hàng Phát triển Việt Nam 75 2.1.6 Kết hoạt động. .. qua hoạt động Ngân hàng Phát triển Việt Nam [26] Nhiều báo đăng Tạp chí Ngân hàng Phát triển Việt Nam nghiên cứu, phân tích khía cạnh liên quan đến hoạt động tín dụng xuất Ngân hàng Phát triển Việt