HANOI: Prime Minister Pham Minh Chinh has asked the State Bank of Vietnam (SBV) to strengthen credit management solutions in 2024, to ensure that credit capital is injected into the economy in the most appropriate manner. more practical and efficient.

In the official message No. 122/CD-TTg sent to SBV Governor Nguyen Thi Hong, the Prime Minister noted that the SBV should no longer experience bottlenecks, delays, incorrect deadlines, addresses misdirected or bad conduct in granting credit by the credit institution. system.

The central bank should strengthen inspection, review, monitoring and close supervision of credit and interest rate announcements and promptly and strictly deal with violations in accordance with regulations.

As part of the directive, the Prime Minister also asked the SBV to continuously implement more effective and stronger solutions within its authority to reduce the interest rates of loans from the credit institutions system, with the aim of helping people and companies create the necessary conditions for the development of production and business. generate revenue and profits and repay loans to banks.

“Credit institutions must continue to make additional efforts to reduce loan interest rates through cost reduction, simplification of administrative procedures, increased application of information technology and transformation digital”, insists the directive.

The SBV must order credit institutions to concentrate credit on production and business sectors, priority sectors and drivers of economic growth, digital transformation, green transformation, circular economy, sharing economy , science, technology and innovation. It must also strictly control credit to risky sectors to ensure safe and efficient credit activities.

Preferential credit programs for important sectors aimed at promoting growth drivers of the economy in accordance with government policy, and for priority sectors such as social housing, workers’ housing, forestry and aquatic products, must be implemented effectively and transparently. — Viet Nam News/ANN