Prime Minister Pham Minh Chinh attends the review meeting of the banking sector on July 15, 2023 (photo: VGP/Nhat Bac)

At a meeting to review the banking sector’s performance in the first half of this year and implement tasks for the last six months of this year, the Prime Minister stressed the need to implement proactive, flexible monetary policies, promptly and effectively relax policies to tackle difficulties for businesses, promote growth in association with stabilizing the macro-economy, control inflation, and prioritize consumption, investment and export.

Mr. Chinh said it’s important to continue to review and fine-tune monetary and banking policies and mechanisms, strengthen power delegation, and streamline administrative procedures.

The Prime Minister asked the State Bank of Vietnam to increase the credit growth with an appropriate structure to meet the credit demand of the economy and focus credits on production, priority areas, and growth drivers.

He said the banking sector needs to take coordinated solutions to reduce interest rates, especially lending interest rates while credit organizations need to reduce costs, simplify procedures and ensure transparency to increase capital accessibility for businesses and the public.