Prime Minister Pham Minh Chinh chairs the meeting on measures to tackle credit difficulties, promote economic growth, stabilize the macroeconomy. (photo: VOV)

At a meeting on Thursday, the Prime Minister suggested that the State Bank of Vietnam closely follow the situation of the national and global economy in order to proactively and effectively manage monetary policies, prioritize economic and credit growth, stabilize the macro-economy, control inflation, ensure major economic balances, with a vision to safeguard all activities of banks and credit organizations.

“We don’t lower credit standards, but should flexibly handle the situation. It’s necessary to strengthen market instruments and reduce administrative procedures in credit management. The issuance of corporate bonds should be accelerated while fiscal policies related to capital, fees, and public investment should be strengthened. Credit institutions should continue to reduce costs, simplify procedures and lending conditions, while enhancing IT applications and digital transformation to further reduce lending interest rates,” said PM Chinh.