Research on new types of insurance and credit guarantees

On March 12, Politburo member and Prime Minister Pham Minh Chinh - Head of the National Steering Committee for Comprehensive Finance chaired the second meeting of the Steering Committee.

In his concluding remarks, the Prime Minister emphasized that the national comprehensive financial strategy is of great importance to the country's socio-economic development.

Comprehensive finance helps all people and businesses access resources and financial services necessary for development, contributing to improving people's living standards, promoting savings and investment, thereby bringing great and positive benefits to society and the economy.

Regarding the target, the Prime Minister emphasized the following 3 aspects:

First, it is necessary to ensure equal access to financial services for all citizens, especially those in difficult circumstances, disadvantaged groups, remote areas, border areas, islands, students.

Second, people must truly enjoy the fruits of a comprehensive financial strategy, contributing to improving the material and spiritual life of the people.

Third, people must be protected for safety and security when accessing financial services, especially when these services are digitized, not allowing bad actors to take advantage of and affect people and businesses.

The Prime Minister pointed out key groups of tasks and solutions.

Accordingly, amend, supplement, perfect institutions, create an open legal corridor, organize implementation well to both strictly manage, promote development, and ensure the legitimate and legal rights and interests of people and businesses, ensuring efficiency and fairness.

Developing smooth, synchronous, and even infrastructure across the country, covering areas and subjects, especially infrastructure for remote, border, and island areas, infrastructure suitable for the disadvantaged, especially digital infrastructure through 5G, 6G coverage, satellite internet, etc.

Training, disseminating knowledge, developing digital citizens nationwide, leaving no one behind. further promote cashless payments, build roadmaps and steps for agencies, units, localities, remote areas, border areas, and islands.

For the State Bank of Vietnam, the Prime Minister requested to continue perfecting the legal corridor, building mechanisms and policies to facilitate digital transformation in banking activities, and promoting cashless payments.

The Ministry of Finance continues to encourage insurance companies to research and supplement new insurance products; research and perfect credit guarantee mechanisms; improve the operational efficiency of non-budgetary State financial funds with lending and credit guarantee nature.

Promote the payment of State budget expenditures and expenditures originating from the State budget by non-cash payment methods; promote non-cash payments by individuals and businesses for tax, fee, charge and collection of administrative fines.

The Ministry of Public Security coordinates with relevant ministries, branches, agencies, credit institutions, and organizations providing services to connect and clean data with the National Population Database to serve professional activities.

Vietnam Social Security promotes the expansion of pension payments, social insurance benefits, and non-cash unemployment benefits through the banking system.