Banking sector assigned tasks for H2

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.

According to the document, the PM commended the banking sector for its efforts and achievements over the past time, contributing to maintaining the macroeconomic stability, controlling inflation, promoting growth and ensuring major economic balances.

He asked the State Bank of Vietnam (SBV) to keep a close watch on the situation both at home and abroad, and intensify its management, inspections and supervisions over the operation of the financial and monetary markets, banks and credit institutions.

Credit loans should be concentrated on growth drivers like investment, consumption and export, Chinh said, asking for the balanced, rational and effective management of interest rates and exchange rates, as well as inflation and control.

The central bank was requested to continue reviewing and perfecting relevant institutions and mechanisms, including the draft Law on Credit Institutions (amended), while pushing for the disbursement of the 40 trillion VND (1.68 billion USD) interest rate subsidy package, the 120 trillion VND housing credit package, and another worth 15 trillion VND in support of wood and aquatic production.

The SBV needs to instruct credit institutions to cut unnecessary procedures, and step up IT application and digital transformation to enhance credit access and facilitate production and production recovery of their clients, he said.

Apart from reforming its inspections and supervisions, the SBV should work to promote the publicity and transparency of information to consolidate confidence of people and businesses, the leader stressed, asking the bank to continue with personnel training.

It was also urged to coordinate with the Ministry 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 the real estate market in line with legal regulations./.