Hanoi expands Vietnam Bank for Social Policies transaction points to communes, wards

3:33 PM, Fri July 18, 2025

Vice Chairman of the Hanoi People's Committee Truong Viet Dung has signed and issued Official Document No. 4139/UBND-KT dated July 18, 2025, regarding the effective implementation and operation of Vietnam Bank for Social Policies (VBSP) transaction points at communes and wards across the city.

The decument's purpose is to operate VBSP transaction points on a fixed day each month at the commune and ward levels, ensuring the continued effectiveness of a decentralized and community-based credit model. 

This model is designed to be accessible, closely aligned with local needs, and supportive of policy beneficiaries and the general public. It aims to guarantee the smooth and efficient delivery of social policy credit, thereby contributing to local socioeconomic development.

The Hanoi People's Committee has requested that all commune and ward authorities work in close coordination with VBSP to implement the following tasks:

First, local authorities must review and allocate suitable locations for the establishment of transaction points in newly formed communes and wards. They are required to notify the relevant VBSP district transaction offices and related organizations about the designated locations and monthly transaction dates. 

These locations must follow the principle of maintaining the number and positions of previously established transaction points. Each new commune or ward must have one primary transaction point located at its People's Committee headquarters. 

Additional points should be placed in villages or residential areas where the distance allows for convenient access to VBSP's services and social policy credit, such as former commune headquarters or village cultural centers.

Local authorities must also assign specific responsibilities to relevant organizations and individuals, particularly commune-level police and security teams, to coordinate with VBSP in ensuring security and the protection of public funds and assets at these transaction points during each monthly operation.

Second, authorities must ensure that signage and public information displays are properly installed. VBSP nameplates and information boards on social policy credit must be clearly visible at each transaction point to help residents easily identify the site and stay informed. This visibility also enhances public oversight and transparency.

Third, the leadership of each commune and ward must appoint officials to oversee social policy credit activities. These officials are responsible for verifying beneficiary eligibility and ensuring the timely processing of loan applications, especially during the early stages of operations in newly established localities. 

They are also expected to attend briefing meetings held at the end of each monthly transaction day at the People's Committee headquarters. These meetings allow local leaders to stay informed and provide timely direction on matters related to social credit activities.

While the document does not specify the total funding for this rollout, in past efforts of this scale, infrastructure setup costs, such as signage, information displays, and security measures, can range from US$300 to US$1,500 per transaction point, depending on the location and requirements. The program underscores the city's ongoing commitment to inclusive financial access and poverty reduction.

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