Prime Minister requests SBV to urgently pilot the removal of credit 'room'

(Chinhphu.vn) - The Prime Minister requested the State Bank of Vietnam to urgently develop a roadmap and pilot the removal of credit growth target assignment measures to be implemented from 2026.

The Prime Minister directed to strictly handle cross-ownership and credit granting to "backyard" enterprises - Photo: VGP/Nhat Bac

Prime Minister Pham Minh Chinh has just signed Official Dispatch No. 128/CD-TTg dated August 6, 2025 requesting ministries, branches and localities to deploy a number of important tasks and solutions to promote growth, control inflation and stabilize the macro -economy , ensuring major balances of the economy.

In particular, the Prime Minister requested the State Bank of Vietnam to preside over and coordinate with relevant agencies:

Closely monitor developments, the world and domestic economic situation, economic growth scenarios to proactively, flexibly, promptly, effectively manage monetary policy, in accordance with macroeconomic developments and monetary policy objectives in accordance with the main tasks and solutions in Resolution No. 154/NQ-CP dated May 31, 2025 of the Government, Resolutions of regular Government meetings and directions of the Prime Minister, closely coordinate, harmonize, rhythmically, synchronously with fiscal policy and other macroeconomic policies, contributing to promoting growth, while controlling inflation according to the set targets, stabilizing the macro economy, ensuring major balances of the economy, meeting capital needs for production and business of people and enterprises.

Urgently develop a roadmap and pilot the removal of credit growth target assignment measures to be implemented from 2026 ; in which it is necessary to develop standards and criteria for credit institutions to operate effectively, healthily, have good governance and management capabilities, comply with safety ratios in banking operations and high safety credit quality indexes..., ensuring publicity and transparency; The State Bank of Vietnam is responsible for inspection, examination, supervision and post-audit, not allowing systemic risks to occur, ensuring security and safety of the credit institution system and controlling inflation according to the set targets.

Strive to achieve the highest goals, tasks and solutions set out in the Project "Restructuring the system of credit institutions associated with bad debt settlement in the period of 2021 - 2025" as approved by the Prime Minister in Decision No. 689/QD-TTg dated June 8, 2022, focusing on promoting bad debt settlement, implementing measures to strictly control credit in areas with potential risks, improving credit quality, minimizing new bad debts, ensuring safe and healthy credit growth along with strict control of bad debts.

Strengthen monitoring, inspection, examination and close, comprehensive supervision of the operations of credit institutions; take measures to prevent, inspect, supervise and strictly handle according to the law acts of manipulation, cross-ownership, credit granting to "backyard" enterprises, enterprises in unhealthy ecosystems, management boards, executive boards and related persons... not in accordance with the law, ensuring the safety of the banking system and national monetary security.

Continue to direct credit institutions to reduce costs, simplify administrative procedures, promote digital transformation ... to have more room to reduce lending interest rates, support production and business of enterprises and people in the spirit of "harmonized benefits, shared risks"; direct credit capital to priority areas, traditional growth drivers of the economy (investment, export, consumption) and new growth drivers (science and technology, innovation, digital economy, green economy, circular economy...) according to the Government's policy, ensuring safe and effective credit growth expansion.

Review, develop and immediately supplement priority mechanisms and policies to more effectively and drastically implement the credit program for young people under 35 years old to buy, rent, and hire-purchase social housing, the VND500,000 billion credit program for enterprises investing in infrastructure, science, technology, innovation, digital transformation, etc. Policy implementation must be timely and effective; not formal, and definitely not allowing money to be disbursed.

Urgently develop a plan for monetary policy management in the last months of 2025 and 2026, and report to the Government Standing Committee before August 30, 2025.

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Source: https://baochinhphu.vn/thu-tuong-yeu-cau-nhnn-khan-truong-thi-diem-bo-room-tin-dung-102250807092619905.htm