On January 17, the Governor of the State Bank of Vietnam issued Directive No. 01/CT-NHNN on organizing the implementation of key tasks of the banking sector in 2024.
The Directive clearly states that units under the State Bank and credit institutions must seriously implement solutions to manage monetary policy and banking activities in 2024 to control inflation, contribute to stabilizing the macro economy, and support reasonable economic growth.
According to the Directive, the State Bank identifies a number of general goals and tasks of the banking industry in 2024.
Specifically, proactive, flexible, timely, effective monetary policy management, coordinated synchronously, harmoniously, and closely with fiscal policy and other macroeconomic policies, contributing to supporting economic growth, stabilizing the macro economy, controlling the target inflation in 2024 at an average of about 4% - 4.5%, stabilizing the monetary and foreign exchange markets and the banking system.
In addition, credit management is in harmony with macroeconomic developments to contribute to supporting economic growth, controlling inflation, stabilizing the macro economy, and ensuring the safety of credit institutions' operations. Credit growth of the entire system of credit institutions in 2024 is about 15%, with appropriate adjustments according to developments and actual situations; research and innovate credit growth management.
In addition, resolutely and effectively implement the Project "Restructuring the system of credit institutions associated with bad debt settlement in the period of 2021-2025" to contribute to the development of a system of credit institutions operating healthily, with quality, efficiency, openness and transparency. Focus on effectively implementing the plan to handle weak credit institutions, restructuring commercial banks under special control under the direction of competent authorities. Direct credit institutions to promote the handling and recovery of bad debts; improve credit quality, prevent and limit the emergence of new bad debts.
In particular, the banking sector will focus on researching, revising and perfecting mechanisms, policies and regulations on the organization and operation of banking inspection and supervision; enhancing innovation and improving the effectiveness and efficiency of inspection, examination and supervision. Focusing on inspection, examination and supervision of areas with potential risks to prevent, detect and strictly handle risks, problems and violations of credit institutions, contributing to ensuring security and discipline in the monetary and banking markets.
Effectively implement the Digital Transformation Plan of the Banking Industry to 2025, with a vision to 2030; Project on developing non-cash payments in Vietnam for the period 2021-2025; Strategy for developing information technology in the Banking Industry to 2025, with a vision to 2030.
Strongly reform regulations and administrative procedures, improve the investment and business environment, create favorable conditions for people and businesses, improve the quality of cadres, civil servants, public employees and workers, and ensure discipline and administrative order.
Strengthening discipline and market discipline in complying with the direction of the Government, the Prime Minister, the Governor of the State Bank and regulations in banking activities.
The Governor also requested to strongly reform regulations and administrative procedures, improve the investment and business environment, create favorable conditions for people and businesses. Improve the quality of cadres, civil servants, public employees, and workers, and ensure discipline and administrative order.
The Governor of the State Bank assigned the Office of the State Bank to preside over and coordinate with units under the State Bank to monitor the implementation of the Directive, synthesize reports to the Governor and send them to the Ministry of Planning and Investment as directed in Resolution No. 01 and Resolution No. 02 of the Government.
HA (according to Vietnam+)Source
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