(VOV) – On the 2^nd day of the National Assembly’s Q&A session on Tuesday, Governor of the State Bank of Vietnam Nguyen Van Binh takes the floor.

Governor of the State Bank of Vietnam Nguyen Van Binh

Regarding the management of gold market, Binh said the State Bank of Vietnam has issued a decree on gold trading and the government has imposed a decree on administrative penalty for monetary, foreign currency exchange, and gold trading offences. These policies have been effective in controlling the gold and foreign currency markets, and reducing inflation.

In order to mobilize an estimated 250 to 300 tons of gold kept by the people for socio-economic development, the State Bank has a plan to prevent gold payment in trading activities. More than 60 tons of gold equivalent to 30 billion USD have been changed into Vietnamese Dong. The State Bank will continue to reduce loan interest rate to support enterprises to recover production. Governor Binh answers questions about solving bad debts. "The banking system has imposed a number of resolute measures. Credit organizations have to rearrange debts by review enterprises’ operation to adjust interest and due date. Under strict monitoring and instruction of the State Bank, credit organizations’ loss reserves have been well controlled. Credit organizations which have no reserves are not eligible to distribute dividend. At least, we have kept bad debts slow down and we’ll use holistic approaches to resolve non-performing loans."

Earlier, Minister of Construction Trinh Dinh Dung answered concerns of deputies and voters relating to the Law on Urban Management, restructuring construction companies, solving cement inventory, and the safety of Song Tranh 2 hydropower plant.