Do not let people and businesses lack capital

Governor of the State Bank of Vietnam Nguyen Thi Hong said that in 2023, the industry basically achieved the set targets and goals, contributing to controlling inflation and stabilizing the macro -economy . The foreign exchange market was basically stable; interest rates decreased, bringing interest rates back to pre-Covid-19 levels. VND is one of the stable currencies in the region and the world, only losing about 2.9%...

Speaking at the conference, Prime Minister Pham Minh Chinh highly appreciated the SBV for operating monetary policy proactively, flexibly, promptly and harmoniously coordinating with fiscal policy and other macro policies; contributing to advising on timely policy shifts, from "tight" to "loose and flexible". Notably, in 2023, the amount of money deposited by residents and economic organizations into the banking system reached more than 13.5 million billion VND, the highest deposit level in the history of the banking industry and a great resource for national development.

Prime Minister Pham Minh Chinh attends the conference to deploy banking sector tasks in 2024

However, the Prime Minister also pointed out that banking activities accept risks but need to pay more attention to risk control tools. In particular, it is necessary to understand and share more with businesses and people in difficult times; and pay more attention to inspection and supervision work.

The head of the Government requested the banking sector in 2024 to "not let the Government be passive or surprised about monetary policy, not let there be congestion in currency circulation, not let people and businesses lack capital when they need support from the banking system". At the same time, there must be no negativity, corruption, or loopholes in the management of the banking system, and the banking system must be developed quickly, comprehensively, inclusively, and sustainably, making an important contribution to the country's rapid and sustainable development according to the Resolution of the 13th National Congress.

The Prime Minister requested the banking sector to continue to resolutely and effectively implement credit solutions to remove difficulties, promote production and business development, help people and businesses access credit better, more accurately and accurately, focusing on priority areas; and promote the effective implementation of preferential credit programs and policies.

At the same time, continue to vigorously implement the Project on restructuring the system of credit institutions associated with handling bad debts in the period of 2021 - 2025; strengthen the effectiveness and efficiency of inspection, examination and supervision of banks. In particular, avoid the situation where people come to the bank to deposit money, but bank staff introduce investment channels with higher interest rates and profits but many risks...

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