Prime Minister Pham Minh Chinh has just signed Official Dispatch No. 135/CD-TTg dated December 16, 2024 on continuing to strengthen solutions to manage interest rates and credit.
In the dispatch, the Prime Minister requested the State Bank of Vietnam to preside over and coordinate with relevant agencies to continue closely monitoring developments in the international and regional situation, changes and adjustments to financial and monetary policies of major economies to assess, analyze, and have timely and effective policy responses.
Focus on implementing more drastically and effectively the tasks and solutions on interest rate management, exchange rate, credit growth, reducing lending interest rates, especially strictly controlling deposit interest rates of commercial banks...
Ensure that credit capital is brought into the economy in the most practical and effective way, absolutely avoiding congestion, delays, wrong timing, wrong addresses, creating a mechanism of asking for and giving, and negativity in the credit granting of the credit institution system.
Continue to implement more effectively and strongly solutions within authority to reduce lending interest rates of the credit institution system, support people and businesses to have conditions to develop production and business, generate revenue, profit and repay loans to banks.
Resolutely handle credit institutions that compete unfairly and illegally on interest rates (including deposit interest rates and lending interest rates) according to authority and legal regulations.
Direct credit institutions to focus credit on production and business sectors, priority sectors and traditional economic growth drivers such as investment, consumption, export and new growth drivers such as digital transformation, green transformation, response to climate change, circular economy, sharing economy, science, technology and innovation, etc.
Strictly control credit in risky areas, ensure safe and effective credit operations; reduce costs, increase application of information technology, digital transformation... to have room to reduce lending interest rates.
Further strengthen inspection, examination, control and close supervision of the activities of credit institutions, especially the announcement of mobilization interest rates, lending interest rates, and credit granting activities of credit institutions; promptly and strictly handle violations according to law.
Focus on implementing appropriate and effective solutions to handle bad debts of the credit institution system, prevent bad debts from arising and ensure the safe operation of the credit institution system.
The Ministry of Public Security, the Government Inspectorate and other relevant agencies, according to their assigned functions, tasks and powers, shall continue to grasp the situation and closely monitor the operations of the credit institution system. Strengthen inspection, examination and strictly handle violations of legal regulations on banking activities, announcement of interest rates for mobilization and lending, etc.
Assign Deputy Prime Minister Ho Duc Phoc to directly direct the State Bank of Vietnam and relevant agencies to perform the assigned tasks in this dispatch.
