Vietnam State Bank prioritizes Inflation control and Lasting Growth
Hanoi, Vietnam – The State Bank of Vietnam (SBV) remains committed to prioritizing inflation control, macroeconomic stability, and sustainable economic growth through consistent monetary policy, according to recent statements from a Deputy Governor.The SBV will leverage experiences from the 2021-2025 period to make timely and appropriate decisions regarding policy instruments.
The central bank will strengthen coordination between monetary and fiscal policies, alongside other macroeconomic measures, to maintain stability, control inflation, and reinforce key economic balances. This is especially crucial as Vietnam increasingly focuses on science, technology, innovation, and digital transformation.
The SBV is directing credit institutions to expand lending safely and effectively, aligning with government directives to focus on productive sectors, priority areas, and growth drivers. Lending to possibly risky sectors will be closely monitored. Efforts to review and simplify lending procedures will be accelerated, alongside the promotion of digital transformation in the lending process, to improve access to credit for individuals and businesses while maintaining safety and security.the legal framework governing banking will also be continuously improved to support monetary policy and foster the growth of the financial market and international integration.
Furthermore, the SBV is focusing on strengthening its capacity for inspection, supervision, and management of risk areas, including non-performing loans. This includes ensuring the safety and solidity of the credit institution system, promoting digital transformation, enhancing governance, and securing the payment system.
These measures are intended to provide a stable foundation for effective monetary management, maintain liquidity, stabilize exchange rates, and bolster confidence among the public, businesses, and investors.
The Deputy Governor’s statements were originally published on Thoi Bao Ngan Hang (Vietnam banking Times) https://thoibaonganhang.vn/dieu-hanh-chinh-sach-tien-te-tiep-tuc-ho-tro-tang-truong-kinh-te-ben-vung-177741.html.