The Government's electronic information portal on September 8 reported that Prime Minister Pham Minh Chinh has just signed Official Dispatch 159/CD-TTg on the orientation for directing and operating fiscal and monetary policies.
In which, the State Bank of Vietnam is assigned to preside over and coordinate with relevant agencies:
Closely monitor market developments and domestic and foreign economic situations to operate monetary policies proactively, flexibly, promptly, creatively and effectively, harmoniously and closely coordinate with fiscal policies and other macro policies, contributing to promoting growth in conjunction with maintaining macroeconomic stability, controlling inflation, and ensuring major balances of the economy;
Credit management is in line with macroeconomic developments and monetary policy goals, meeting the credit capital needs of the economy.
Strengthen bad debt handling, strictly control credit flows for areas with potential risks;
Strengthen and further improve the effectiveness of inspection, examination and supervision of credit institutions to prevent and strictly handle violations in banking activities (especially acts of manipulation, cross-ownership, credit granting to "back yard" enterprises...);
Complete digital transformation in the banking system to control risks, especially control cash flow in and out of banks using digital technology... in the fourth quarter of 2025;
Develop a roadmap and pilot the removal of the measure of assigning credit growth targets to be implemented from 2026 according to the direction of the Prime Minister in Official Dispatch No. 128/CD-TTg dated August 6, 2025. Continue to promote the development of cashless payments and digital transformation in banking activities;
Closely monitor the developments of world and domestic gold prices, promptly and within the authority, implement necessary solutions and tools according to regulations to stabilize and stabilize the gold market, narrow the gap between international gold prices and domestic gold prices, not to negatively impact exchange rates, interest rates, currency markets, foreign exchange and safety, national financial and monetary security, negatively affecting macroeconomic stability.
Notably, the Prime Minister requested to strengthen inspection and examination to detect and strictly handle violations, especially acts of manipulation, hoarding, smuggling, speculation, profiteering, illegal trading... causing instability in the gold market;
The State Bank proactively coordinates with relevant ministries and agencies to synchronously and effectively implement Decree No. 232/2025/ND-CP. There are solutions to effectively prevent negative impacts on the gold market during the transition period.
Proactively carry out information and communication work well; promptly provide official, public and transparent information on policies, management and operation of financial markets, currency, foreign exchange and gold, quickly stabilize the psychology of people, businesses and market confidence.
