On August 13, in Hanoi, Politburo Member, Prime Minister Le Minh Hung chaired a working session with the State Bank of Vietnam (SBV) and the system of credit institutions (CIs).
According to the Government Authority of Information and Communications, concluding the working session, Prime Minister Le Minh Hung clearly stated that the Government identifies: The monetary system, banks and credit institutions are the lifeblood of the economy, playing a key role in macroeconomic stability, inflation control and promoting rapid and sustainable growth.
Monetary policy management must ensure the goal of controlling inflation, maintaining macroeconomic stability, ensuring major balances of the economy, system safety and supporting growth, promoting double-digit economic growth.
The Prime Minister clearly stated that in the recent macroeconomic management, the Government mainly used fiscal policy (reducing and extending taxes and fees), and at the same time drastically cut procedures, implementation time, and compliance costs for the economy, people and businesses, including banks, without putting pressure on the SBV and the banking system regarding credit and interest rates.
The SBV maintains operating interest rates and strengthens liquidity supply to the market, thereby supporting credit institutions to access capital sources at low cost; manages exchange rates flexibly, in accordance with market developments, coordinates synchronously with monetary policy tools and flexibly intervenes in the market to stabilize the foreign exchange market.
Continue to strictly manage the gold market. Credit institutions continue to reduce costs, stabilize interest rates, and substantially reduce lending interest rates.
The SBV and the banking system need to act with a high sense of responsibility, more drastically in mobilizing resources for growth on the basis of macroeconomic stability, especially sharing responsibility with people and businesses through specific measures on stabilizing interest rates, reducing lending rates, putting credit into the right sectors, serving growth and strictly controlling risks.
Regarding credit, the SBV manages credit growth closely following the 2026 target, but does not consider it "bare" at all times; management must be proactive and flexible according to actual developments, ensuring capital must reach the right sector, at the right time, to the right target, for the right purpose at reasonable costs.
Focusing credit on production, exports, high technology, supporting industries, agriculture, innovation, social housing, rental housing, essential infrastructure, important national key projects, priority sectors and growth drivers.
The Prime Minister requested the SBV to focus on completing the project to continue modernizing the banking system, handling weak credit institutions, and strengthening access to capital for businesses, especially small and medium-sized enterprises, to be completed in August 2026.
Promptly and strongly innovate inspection and supervision methods; strengthen early and remote supervision, early warning and specialized inspection; proactively coordinate with functional agencies to warn and have plans to proactively overcome and strictly handle violations in banking operations, ensuring system safety, especially in terms of ownership, credit granting, loan management, and compliance with regulations on operational safety.
Implement solutions to develop the capital market to supply capital to the economy in the medium and long term; effectively implement policies on exemption, reduction, extension of taxes, fees, charges, land rent in 2026, VAT refund issues to support people and businesses.
