CHAPTER 3: SOLUTIONS FOR DEVELOPING BRAND OF ABBANK
3.1 Orientations develop banking industry in coming time
3.1.1 Objective and strategy in developing Vietnam‘s banks in coming time
Over past years, Vietnam banking industry has reached some prominent results in process of enhancing competitive and management ability. However, with outside pressure, domestic banks cannot exist without innovation and restructure system before too late. therefore, on may 24th 2006 the Vietnam prime minister signed decision No 112/2006/QĐ-TTg in order to approved project:‖ development on banking industry to 2010 and 2020 vision forward by restructuring completely the organizational model and operations of banking systems. In order to guarantee all banks have enough ability to compete with oversea banks, the government has some objectives and strategies to get those.
Reform strongly and develop commercial and joint stock banks system forward to multifunctional, modern, and diversified about ownership and kind of organization. To guarantee the baking system will has large scope and running by market principles with main objective is profit. Apply international normal practices and criteria in banking businesses.
Restructure commercial banking system, disparate credit policy and business credit and so on though some following activities:
Develop banking service system in diversification and multi-convenient and is oriented by demand of the economy base on basic continue to
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enhance quality and effectiveness of traditional services of banks and access rapidly new services with high technology level.
Observe by prescription of bilateral agreements and regulations of WTO about opening market in banking services for foreign banks.
Improve and develop Vietnam commercial Joint stock banks system forward increase financial power and management ability. Merger, acquisition, dissolves, or resells commercial Joint stock banks have bad operations in business in a long time.
Guarantee business rights for foreign banks and financial organization by international commitments have been signed by Government , encourage foreign banks have 100% capital operate in Vietnam
Combine banking reform with state own enterprise reforms
Helping and make conditions for domestic funds and credit organizations have much chances to do business as well as enhance management ability and professional degree to have enough ability to compete with oversea credit organizations.
Restructure commercial banks system in order to make an effective result in banking system.
Permit establishing new credit funds and capital management funds
Develop credit funds in order to keep stability in financial market avoid crisis in banking
Develop banking services system in order to make sure have enough ability to compete with foreign banks
In banking field, Vietnam government will regulate and promulgate policies, which are suitable to bilateral and multilateral arrangements about approaching market and national behaviors, such as permit foreign banks doing business in Vietnam with many different types. For example joint-venture bank, foreign bank branch, 100% foreign capital bank. Furthermore, permitting banks expand scopes and types of banking services in Vietnam.
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b. Orient strategy to merge international economics in banking field
Enhance the role and influence of Vietnam banking system to financial market in area and in the world.
Permit commercial banks issue and list shares of them in both domestic and foreign stock market and international financial market.
Participate in international arrangements, clubs, area forums and international forums about banking and money
Apply strongly international standards and requirements in banking performances as well as regulations about relationship among banks in providing capital or international payments …
Reduce gradually barriers and restrictions to foreign banks in numbers and business forms such as capital ratio in a joint venture, mobilization level in VND or types of services and products, which banks can provide to customers
Building a legal system, in which all banks have chance to compete with others in comfortable conditions.