PM steers banking meeting

PM Dung acknowledged the positive contributions made by the banking system and highlighted the need to reduce interest rates, given the drop in the inflation rate, in order to maintain growth.

He also asked the State Bank of Vietnam (SBV) to review and fine-tune institutions and standardize regulations for the safe, healthy and effective operation of the banking system.

The PM asked the SBV to improve the efficiency and effectiveness of managing monetary policies, especially deposit and loan interest rates, to curb inflation and stabilize exchange rates.

He noted that the State Bank should help strengthen State-owned commercial banks, saying that each commercial bank must restructure itself to be stronger in terms of business strategy, administration, ownership and capital capacity, while assuming social responsibility and complying with Government regulations.

(VOV)