The State Bank requires credit institutions to direct capital flows into priority sectors.

The conference was co-chaired by Governor of the State Bank of Vietnam Nguyen Thi Hong and Permanent Deputy Governor Dao Minh Tu. At the Thua Thien Hue bridge, there were the participation of leaders and specialized departments of the State Bank of Vietnam provincial branch.

In 2024, based on the economic growth target of about 6-6.5% and inflation of about 4-4.5% set by the National Assembly and the Government, the State Bank targets the credit growth rate of the whole system at about 15% and will make appropriate adjustments based on developments and actual situations. The State Bank has also assigned the credit growth target for 2024 to credit institutions, publicly announcing the principles for credit institutions to proactively implement credit growth to provide capital for the economy.

At the conference, credit institutions and related units reported on the credit growth situation over the past month. At the same time, they shared solutions and recommendations to achieve the credit growth target of 15%, direct capital flows to priority areas as well as control risks in credit activities.

Concluding the conference, the Standing Deputy Governor of the State Bank of Vietnam , Mr. Dao Minh Tu, requested credit institutions to carry out safe and effective credit growth, directing credit to production and business sectors, priority sectors and growth drivers; strictly control credit in potentially risky sectors; review and simplify procedures, loan applications, and collateral, creating favorable conditions for businesses and people to access bank credit capital.

The State Bank of Vietnam and its branches regularly organize conferences connecting businesses and business associations to directly resolve problems arising in the process of accessing credit. Commercial banks also focus on resolving difficulties, proactively organizing conferences to grasp customers' difficulties, thereby having reasonable solutions and reducing costs to support customers.

The Standing Deputy Governor of the State Bank of Vietnam also agreed to extend the validity of Circular 02/2023/TT-NHNN on debt restructuring, deferment, and deferment and will issue a new mechanism in the first quarter of 2024. At the same time, he requested banks to promptly announce average lending interest rates..., helping people and businesses easily choose banks with good policies in accessing credit.

News and photos: Hoang Anh