Prime Minister urges banking sector to make more innovations

The sector should continue to follow policies and guidelines adopted by the Party and the State, while closely coordinating with ministries, agencies and localities to fulfill socio-economic tasks, he said.

Priorities should be given to maintaining the macro-economic stability, controlling inflation, spurring growth and ensuring major economic balances, the leader continued.

Prime Minister Pham Minh Chinh asked the State Bank of Vietnam (SBV) to improve its analyzing and forecasting capacity, provide timely consultancy and flexibly respond to developments of the domestic and international situation.

The central bank was also urged to intensify inspection and supervision, ensure transparency, promote digital transformation, raise service quality, and support innovations and small- and medium-sized enterprises.

It needs to further consolidate monetary institutions, mechanisms and policies to create a concerted legal corridor, thus giving a push to the monetary and credit markets, and making the baking sector safe, healthy, effective and sustainable, the PM stressed.

He also asked the sector to continue with mechanisms and policies in support of people and enterprises, noting that credits should be focused on production and business, especially priority fields.

For her part, SBV Governor Nguyen Thi Hong affirmed that the sector will drastically implement a project on restructuring the system of credit institutions in parallel with handling bad debts in the 2021-2025 period, promote cashless payments, boost digital transformation and reform administrative procedures this year.

Source: VNA