PM asks banking sector to ensure legitimate interests of people, businesses

Prime Minister Pham Minh Chinh on December 28 tasked the banking sector with ensuring monetary security and safety, as well as legitimate rights and interests of people, businesses and relevant subjects in 2023 and the following years.

PM asks banking sector to ensure legitimate interests of people, businesses hinh anh 1

Prime Minister Pham Minh Chinh (middle) at the conference held by the central bank. (Photo: VNA)

Prime Minister Pham Minh Chinh on December 28 tasked the banking sector with ensuring monetary security and safety, as well as legitimate rights and interests of people, businesses and relevant subjects in 2023 and the following years.

Speaking at a hybrid conference held by the State Bank of Vietnam (SBV) in Hanoi, the leader stressed that the sector should operate transparently and healthily, with liquidity flowing smoothly in any circumstances.

He asked the central bank to keep the exchange rates and interest rates, as well as inflation control and economic growth balanced, and ensure reasonable and effective credit growth, while contributing to removing difficulties in production and business.

Inspections and supervisions should be stepped up to make the system run transparently and safely, he said, calling for efforts to accelerate the restructuring of credit institutions in parallel with bad debt settlement.

The leader also stressed the need to boost digital transformation, as well as the banking system’s role in green development, circular economy, digital economy and innovation.

The sector should closely coordinate with ministries, agencies and localities to fulfill socio-economic tasks, with priorities given to maintaining macro-economic stability, reigning in inflation, spurring growth and ensuring major economic balances, the PM said.

To that end, he suggested flexibly rolling out monetary policy tools and combining fiscal policies with others, saying the banking sector should work to improve its forecasting capacity and prepare for changes in the domestic and international situation.

Perfecting relevant institutions, mechanisms and policies will create a concerted legal corridor for the safe, healthy, effective and sustainable development of the sector, he noted.

The project on restructuring credit institutions in combination with bad debt settlement in 2021-2025 needs to be implemented drastically and effectively, the leader continued.

Lauding the banking system’s outstanding performance in 2022, Chinh emphasised that it has contributed to controlling inflation and maintaining macro-economic stability and high economic growth.

The sector has employed an array of solutions and persified its credit products to help enterprises and people restore production and business, he said, adding that international cooperation has contributed to raising Vietnam’s role at international financial and monetary organisations./.

Source: VNA
en.vietnamplus.vn

Related News

New trends in digital transformation for businesses

New trends in digital transformation for businesses

VCN - Given the rapid and substantial changes in technology, finding suitable solutions and keeping up with trends is a critical issue for businesses.
Businesses must fully understand the new EU import control regulations

Businesses must fully understand the new EU import control regulations

VCN - According to the European Union (EU) regulations, from June 2024, all businesses related to goods exported from Vietnam to the EU must declare data before the goods arrive in the Import Control System (ICS2). If Vietnamese businesses are not aware of these regulations, they may face serious consequences.
Open credit flow to support import and export

Open credit flow to support import and export

VCN - Weak demand, reduced orders, pressure from trade defense... thereby leading to a series of financial difficulties for import-export businesses. Therefore, the credit flow to support import and export needs to "flow" properly and meet the needs of businesses.
"The key" to promote growth for businesses

"The key" to promote growth for businesses

VCN - An unlocking growth driver is an urgent requirement from the Government to help businesses and the economy quickly recover. But unlocking the driving forces must be accompanied by drastic reforms in institutions and the business environment to create conditions and increase confidence for businesses to step forward.

Latest News

Rising middle class pushes wealth management potential in Vietnam

Rising middle class pushes wealth management potential in Vietnam

The personal financial assets market in Vietnam is forecast to reach hundreds of billions of US dollars in the next few years, providing significant opportunities for wealth management services.
The carbon credit market opens up many opportunities for businesses

The carbon credit market opens up many opportunities for businesses

VCN - Vietnam has great potential for carbon credit supply. Many businesses have proactively invested in technological innovation to participate in this market.
Quang Ninh: Administrative reform, improving infrastructure, promoting import and export

Quang Ninh: Administrative reform, improving infrastructure, promoting import and export

VCN - Import-export activities through border gates in Quang Ninh province have prospered thanks to the implementation of accompanying solutions to support businesses and the determination and efforts of authorities at all levels.
National Assembly opens 7th session

National Assembly opens 7th session

The 15th National Assembly (NA) convened its 7th sitting in Hanoi on May 20 morning, with the opening session broadcast live by several national and NA television and radio channels.

More News

The quality of economic management at the provincial level continues to improve

The quality of economic management at the provincial level continues to improve

VCN - In production and business activities, support from local authorities plays a very important role. The good news is that in a context of economic pressure, businesses have appreciated the positive efforts of provincial and city governments in improving the business environment compared to before.
Promoting e-commerce human resources training in Việt Nam

Promoting e-commerce human resources training in Việt Nam

E-commerce staff are quite young and can quickly accept new technology, which could start businesses in the digital environment.
National Assembly to work on personnel affairs on May 20

National Assembly to work on personnel affairs on May 20

Personnel work will be tabled right after the seventh session of the National Assembly (NA) opens on May 20, according to Secretary General of the NA and Chairman of its Office Bui Van Cuong.
High-quality science, technology human resources key to sustainable growth

High-quality science, technology human resources key to sustainable growth

To achieve sustainable development and help the economy take off, high-quality human resources and advancements in science and technology should be seen as key components, according to insiders.
Vietnam, France look to boost economic partnership

Vietnam, France look to boost economic partnership

Deputy Minister of Planning and Investment Tran Quoc Phuong and French Minister Delegate for Foreign Trade, Economic Attractiveness, Francophonie and French Nationals Abroad Franck Riester co-chaired the 8th session of the Vietnam-France High-Level Dialogue on Economy in Paris on May 17.
Opportunity for growth and investment links between Vietnam and the US

Opportunity for growth and investment links between Vietnam and the US

VCN- “Before deciding to invest, the US investors are always interested in building the business and investment environment in localities”, US Ambassador to Vietnam Marc E. Knapper told the media.
Positive economic transformations in four months

Positive economic transformations in four months

VCN - In the context of global difficulties and challenges, Vietnam's socio-economic situation in April continues to undergo quite positive transformations, contributing to improving the overall results of the first four months of the year and setting the pace for the following months.
Vietnam is ready to welcome a new wave of investment in the semiconductor industry

Vietnam is ready to welcome a new wave of investment in the semiconductor industry

VCN - Deputy Minister of Planning and Investment Tran Duy Dong (Photo) gave an interview to Customs Magazine about Vietnam's preparations to attract FDI into the semiconductor industry.
Việt Nam, Japan sign MoC on forestry co-operation

Việt Nam, Japan sign MoC on forestry co-operation

In wood product trade, Japan is one of the five biggest importing countries of Việt Nam in the world with about US$1.5-2 billion each year.
Read More

Your care

Latest Most read
Rising middle class pushes wealth management potential in Vietnam

Rising middle class pushes wealth management potential in Vietnam

The personal financial assets market in Vietnam is forecast to reach hundreds of billions of US dollars in the next few years, providing significant opportunities for wealth management services.
The carbon credit market opens up many opportunities for businesses

The carbon credit market opens up many opportunities for businesses

VCN - According to experts, the world carbon credit market has been vibrant in the past few years. Dr. Nguyen Phuong Nam, UN greenhouse gas inventory assessment expert, said that Vietnam currently has about 1,912 establishments conducting greenhouse gas e
Quang Ninh: Administrative reform, improving infrastructure, promoting import and export

Quang Ninh: Administrative reform, improving infrastructure, promoting import and export

VCN - In recent years, Quang Ninh province has promoted administrative reform activities, improved the business investment environment, and supported businesses.
National Assembly opens 7th session

National Assembly opens 7th session

The 15th National Assembly (NA) convened its 7th sitting in Hanoi on May 20 morning, with the opening session broadcast live by several national and NA television and radio channels.
The quality of economic management at the provincial level continues to improve

The quality of economic management at the provincial level continues to improve

VCN - In production and business activities, support from local authorities plays a very important role. The good news is that in a context of economic pressure, businesses have appreciated the positive efforts of provincial and city governments in improv
Mobile Version