(VOV) – Prime Minister Nguyen Tan Dung has approved plans to tackle bad debt and establish an asset management company for Vietnam’s credit institutions.

The plan to tackle bad debt pointed out targets of credit institutions to create conditions for them to expand credits at reasonable interest rates, resolve business difficulties, boost economic growth and macro-economic stabilization, and improve liquidity and efficiency of credit institutions and the monetary market. The plan sets to tackle all the current debt crisis by the end of 2015. The asset management company for Vietnam’s credit institutions was established as a special tool of the State to quickly clear bad debt, reduce risks for credit institutions and enterprises and boost credit growth for the economy. The company has a chartered capital of nearly 24 million USD.