PM assigns tasks to banking sector

Prime Minister Pham Minh Chinh held a meeting with the banking sector on January 8, in which he recognized its achievements in 2021 and specified tasks for 2022.

The sector directly contributed to Vietnam’s economic achievements last year, he told the gathering, proactively seized upon trends, issued appropriate policies, made timely adjustments, promoted the development of non-cash payments, took the lead in digital transformation, and provided convenience to individuals and businesses.

It also focused on dealing with poorly-performing credit institutions, in particular to handle two such institutions in the near future. This is a complex matter and requires great determination and effort.

This year, he said, although there are certain advantages available, there are also many difficulties. The entire banking sector must therefore adopt the right attitude and solutions.

Each agency and unit in the banking sector must make every effort to complete their tasks.

The sector must also contribute greatly to the stabilization of the macro-economy and control over inflation, and stabilize currency and foreign exchange markets to ensure the smooth operations of businesses.
It must also focus on strategic research, forecasting, and analyses, and closely monitor the actual situation, thus adopting appropriate solutions and policies to contribute to Vietnam’s rapid recovery and sustainable development.

The Prime Minister also noted a number of other tasks, such as reducing lending interest rates and strengthening inspections, supervision, risk management, and credit management.

At the same time, he asked the State Bank of Vietnam (SBV) to strictly control the purchasing of corporate bonds by credit institutions and to strengthen the management and supervision of their capital mobilization.