The Government Office on July 31 issued a notice on Prime Minister Pham Minh Chinh’s opinions at a recent conference reviewing the performance of the banking sector in the first half of this year, and setting forth tasks for the remaining months.
Hanoi (VNA) – The Government Office on July 31issued a notice on Prime Minister Pham Minh Chinh’s opinions at a recentconference reviewing the performance of the banking sector in the first half ofthis year, and setting forth tasks for the remaining months.
According to the document, the PM commended thebanking sector for its efforts and achievements over the past time, contributingto maintaining the macroeconomic stability, controlling inflation, promotinggrowth and ensuring major economic balances.
He asked the State Bank of Vietnam (SBV) to keep aclose watch on the situation both at home and abroad, and intensify its management,inspections and supervisions over the operation of the financial and monetarymarkets, banks and credit institutions.
Credit loans should be concentrated on growth driverslike investment, consumption and export, Chinh said, asking for the balanced,rational and effective management of interest rates and exchange rates, as wellas inflation and control.
The central bank was requested to continue reviewingand perfecting relevant institutions and mechanisms, including the draft Law onCredit Institutions (amended), while pushing for the disbursement of the 40trillion VND (1.68 billion USD) interest rate subsidy package, the 120 trillionVND housing credit package, and another worth 15 trillion VND in support ofwood and aquatic production.
The SBV needs to instruct credit institutions to cut unnecessaryprocedures, and step up IT application and digital transformation to enhancecredit access and facilitate production and production recovery of theirclients, he said.
Apart from reforming its inspections and supervisions,the SBV should work to promote the publicity and transparency of information toconsolidate confidence of people and businesses, the leader stressed, askingthe bank to continue with personnel training.
It was also urged to coordinate with theMinistry of Finance to further implement solutions to ensure the effective,healthy, safe and sustainable development of corporate bond and stock markets,and with the Ministry of Construction to roll out solutions in support of thereal estate market in line with legal regulations./.
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PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
Illustrative image (Source: VNA) 
