Deputy Prime Minister suggests banks set reasonable interest rates

On September 7, Deputy Prime Minister Le Minh Khai chaired a meeting on solutions to improve businesses' access to credit and increase the economy 's ability to absorb capital.

Concluding the meeting, the Deputy Prime Minister highly appreciated the sense of responsibility of the delegates, their very responsible, profound, practical and appropriate opinions... to find solutions to handle common work.

The Deputy Prime Minister emphasized that in the complicated and unpredictable global economic situation, many internal difficulties of the country's economy have been exposed. However, in difficulties there are still opportunities. We need to find opportunities in difficulties to overcome challenges.

The Deputy Prime Minister assigned the State Bank, the Ministry of Finance, the Ministry of Industry and Trade, the Ministry of Planning and Investment and relevant ministries, branches and localities, according to their assigned functions and tasks, to continue to resolutely and effectively implement the solutions in Resolution No. 01 of the Government and the Resolutions of regular Government meetings.

Focus on closely monitoring, analyzing, and forecasting the economic situation, developments in the world, regional, and domestic financial and monetary markets to have timely and appropriate policy responses.

Continue implementing solutions to stabilize the macro economy, control inflation, stabilize the value of the Vietnamese currency, promote growth, ensure major balances of the economy, and enhance the economy's ability to absorb capital.

Focus - Deputy Prime Minister suggests banks set reasonable interest rate levels — Deputy Prime Minister Le Minh Khai speaks at the meeting (Photo: VGP).

The State Bank shall preside over and coordinate with ministries, branches, localities and relevant agencies to urgently implement measures to improve access to credit capital for people and businesses.

Focus credit capital on priority sectors, key domestic production sectors, sectors that create breakthrough, spillover, and transmission development, small and medium-sized enterprises associated with improving access to capital for people and businesses...

In addition to priority areas, we must also pay attention to providing credit to other areas to "make a storm out of a few", promoting economic recovery and development...

The Deputy Prime Minister requested the State Bank to review all conditions related to credit, listen to the opinions of experts, associations, and public opinion, accept reasonable recommendations, and calculate and adjust solutions promptly, in accordance with legal regulations and the actual situation. The most important thing now is to find a balance point and design a reasonable interest rate level...

"For credit support packages that are still in effect, we will continue to try to promote and disburse as much as possible," the Deputy Prime Minister requested.

The Deputy Prime Minister requested the Ministry of Finance to operate appropriate fiscal policies with focus and target to support the stimulation of aggregate demand in the economy. Effectively implement policies to extend and reduce taxes, fees, charges, and land rents that have been issued. Further accelerate the refund of value added tax to businesses and people.

Focus - Deputy Prime Minister suggests banks set reasonable interest rates (Figure 2). — The meeting discussed solutions to improve businesses' access to credit capital and increase the economy's ability to absorb capital (Photo: VGP).

Urgently study measures to increase the economy's capital absorption capacity through fiscal policies to support people and businesses; carefully calculate the level, duration, form, and method of capital mobilization to stimulate economic growth, ensure effective use of loans, ability to repay loans, and stabilize, secure, and sustain national finances.

"In the current context, it is necessary to research and propose breakthrough policies," the Deputy Prime Minister emphasized.

The Deputy Prime Minister assigned the Ministry of Industry and Trade to preside over and coordinate with ministries, branches and localities to focus on implementing solutions to promote exports, develop the domestic market, expand distribution channels, new and potential markets, restore and boost exports to large and traditional markets; and make the most of the benefits of new-generation FTAs.

The Ministry of Construction shall preside over and coordinate with ministries, branches and localities to continue to speed up the review and removal of difficulties and obstacles for real estate projects; have feasible and effective solutions to remove and promote the real estate market to develop safely, healthily and sustainably, creating momentum for economic growth.

The Ministry of Planning and Investment shall preside over and coordinate with ministries, branches and localities to continue implementing solutions to strongly promote public investment disbursement, promptly put projects into operation, stimulate investment and spending in the private sector, contribute to socio-economic development and promote growth.

The State Capital Management Committee at Enterprises urgently implements solutions to improve operational efficiency and promote investment resources of economic groups and state-owned corporations under the Committee.

The Deputy Prime Minister also asked businesses to take measures to strengthen their financial and management capacity, improve their financial situation, make cash flow transparent, and develop effective and feasible business plans .

Source