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| The BEV must intensify its efforts to drastically and effectively implement interest rate and exchange rate management measures and tasks. |
| Photo : VNA/CVN |
In an official message sent to the governor of the BEV, the Minister of Police and the Inspector General of the government on December 16, the head of government noted that this measure aims to strengthen public management in the banking sector, thereby stimulating economic growth and achieving all the main objectives set in the 2024 socio-economic development plan and another for the period 2021-2025.
He asked the central bank to coordinate with relevant agencies to monitor the regional and international situation, as well as changes and adjustments in the financial and monetary policies of major economies in order to have timely and effective policy responses.
We must give priority to growth, while guaranteeing macroeconomic stability, controlling inflation and maintaining major economic balances, striving to achieve an economic growth rate of at least 8% in 2025 in order to to lay the foundations for double-digit growth in the period 2026-2030.
Strict control
The BEV must intensify its efforts to drastically and effectively implement measures and tasks for managing interest and foreign exchange rates, as well as credit growth, he said, recommending focus on reducing loan interest rates, especially on strict control of deposit interest rates in commercial banks. These actions aim to meet capital demands during the end-of-year period and the first months of 2025, removing obstacles for individuals and businesses.
Credit institutions that engage in unfair or non-compliant competition in interest rates, including deposit and lending rates, must be strictly controlled, he stressed, urging the central bank to step up inspections and supervision of the functioning of institutions.
| Transactions at the BAOVIET Bank counter. |
| Photo : VNA/CVN |
Credit institutions must focus their loans on priority sectors of production and activity and on the traditional drivers of economic growth, such as investment, consumption and export, as well as on new drivers such as digital transformation, green transition, response to climate change, circular economy, sharing economy, science, technology and innovation, he said.
The Ministry of Police, the Government Inspectorate General and other relevant agencies were also asked to continue monitoring the operation of credit institutions, strengthen inspections and supervisions, and strictly deal with violations.
VNA/CVN
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