(PLVN) - In the context of many changes in the world situation, affecting many policies, including monetary policy, on the morning of February 11, at the Government Headquarters, Prime Minister Pham Minh Chinh chaired the Government Standing Committee Conference working with commercial banks to discuss and listen to solutions to serve the growth target in 2025.
There will be a channel to put money out to ensure there is no difficulty with capital.
In his opening speech, Prime Minister Pham Minh Chinh said that in 2025, the Government will strive to achieve economic growth of 8% or more, creating momentum, creating momentum, and creating the force for double-digit growth in the next period. The Prime Minister commented that since the beginning of the year, the world situation has changed a lot, affecting many policies, including monetary policy. Determining that this is a year with many challenges, the Prime Minister also emphasized that "there are many opportunities and advantages". Therefore, the Government leader proposed to use banking leverage to promote and exploit different potentials, outstanding opportunities, competitive advantages, creating new motivation and impulse in national development.
Reporting at the Conference, Permanent Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu said that in 2024, the SBV will continue to proactively manage interest rates at low levels to guide the market to reduce lending rates, support businesses and people, thereby reducing lending rates by 1.24% compared to the end of 2023. The foreign exchange market and exchange rates are stable. The liquidity of the credit institution system is abundant, meeting the capital needs of the economy, contributing to controlling inflation and stabilizing exchange rates. In addition, the SBV promptly directed the credit institution system to deploy many solutions to effectively promote credit growth, increasing by 15.08% compared to the end of 2023 and achieving the set target, adding VND 2.2 million billion to the economy (loan turnover of VND 23 million billion).
The implementation of the Project on restructuring the system of credit institutions associated with handling bad debts continues to be carried out vigorously, actively handling weak credit institutions, especially the State Bank has completed the compulsory transfer of 4 weak banks. Bad debts are focused on handling and controlled lower than the set target of 3%. Commercial banks improve their management and operation capacity, financial capacity and profitable business.
Speaking at the Conference, Governor of the State Bank of Vietnam Nguyen Thi Hong said that the entire banking sector is deeply aware that 2025 is a year of acceleration and breakthrough. The State Bank of Vietnam has set a credit growth target of about 16% and will make appropriate adjustments to the actual situation. To complete this task, the State Bank of Vietnam will closely monitor developments. If inflation is controlled at a low level, the credit target will be adjusted upward. Conversely, if there are signs of risk, the credit policy will be adjusted to ensure macroeconomic stability. The credit policy will also focus on economic growth drivers. Notably, Governor Nguyen Thi Hong emphasized: "In management, the State Bank of Vietnam has channels to release money to ensure that banks do not face difficulties in capital sources."
Sacrifice part of profit to reduce lending interest rate
According to the Prime Minister, in 2025, it is necessary to maintain macroeconomic stability, control inflation, promote growth, ensure major balances and control budget deficit, government debt, public debt, foreign debt within limits, well manage monetary policy, exchange rate, interest rate, especially the GDP growth target of at least 8% or more. With the credit growth target of over 16%, the Prime Minister requested the banking industry in general and commercial banks in particular to take the lead in promoting growth, controlling inflation and stabilizing the macro economy.
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Prime Minister and delegates attending the Conference. (Photo: VGP/Nhat Bac) |
The Prime Minister pointed out a number of tasks and solutions that the banking sector and commercial banks need to focus on implementing. Accordingly, it is necessary to reduce costs, reorganize operations more effectively and especially sacrifice a part of profits to reduce lending interest rates, support the economy, people, businesses, and create livelihoods for the people.
At the same time, focus on credit, contributing to renewing the three growth drivers including investment, consumption, export and promoting new growth drivers. Accordingly, public investment leads private investment; there are consumer credit packages, credit for key industries to solve many jobs, shift the economic structure; preferential credit for industries, fields, priority subjects; credit for BOT projects, public-private partnerships; credit to remove difficulties for real estate projects...
In addition, the State Bank and commercial banks will continue to research and have preferential credit packages for both supply and demand to develop social housing, housing for young people aged 35 and under, and housing for the disadvantaged; actively contributing to eliminating temporary and dilapidated houses nationwide.
In addition, there are a number of other tasks pointed out by the Prime Minister such as pioneering in digital transformation, applying science and technology, innovation; Promoting the reduction of administrative procedures, inconvenience, harassment, negative manifestations, fighting corruption, waste in banking activities, reducing bad debt, creating favorable conditions for people and businesses; Participating more actively and effectively in implementing 3 strategic breakthroughs in institutions, infrastructure, human resources, contributing to the development of laws, focusing on mobilizing resources to develop strategic infrastructure, training human resources for the country in the new development era.
Prime Minister Pham Minh Chinh: Banks need to support small and medium enterprises
Banks must make a profit in their business operations, but in addition to profit, they must bring common benefits to the country, because "when the water rises, the duckweed floats", but it is also necessary to pay attention to removing difficulties and obstacles for backlogged, prolonged projects that cause waste of private enterprises and support small and medium enterprises because these enterprises account for a very large proportion, creating many jobs. Banks must also operate in accordance with the law, contributing to preventing and combating corruption, negativity, and harassment.
Minister of Transport Tran Hong Minh: The Transport sector needs about 6.27 million billion VND from now until 2035.
There are 11 BOT transport projects facing difficulties that need to be resolved, of which 7 projects have been basically resolved. To resolve these difficulties as well as to implement new BOT projects, it is necessary to have the joint efforts, consensus, and sharing among the relevant parties. In the coming time, the Transport sector really needs the support of banks with the total investment for 5 types of transport needing about 6.27 million billion VND from now until 2035.
Ms. Nguyen Thi Phuong Thao, Permanent Vice President of HDBank: Ready to provide funding for businesses
HDBank has established and supported the operation of an AI and Blockchain investment fund to build "Make-in-Vietnam" technology products, readying capital sources to finance businesses, prioritizing the semiconductor and high-tech sectors. However, it is also necessary to promote the development of the capital market, reduce pressure on bank credit, support long-term growth; Maintain stable interest rates, support credit for priority programs; Flexible exchange rate management to promote exports.
Mr. Do Minh Phu - Chairman of TP Bank: Commercial banks always pursue the policy of "3 reductions"
With the desire to contribute to the country having 3,000km of expressway this year, TP Bank has participated in many projects such as Cam Lam - Vinh Hao expressway. Recently, TP Bank immediately signed a credit contract of 2,400 billion VND for the Huu Nghi - Chi Lang expressway BOT project and will disburse this week.
In 2024, TPBank's outstanding credit balance will reach about 20.25% higher than the industry's growth. Because for banks rated A, the State Bank has allowed the most reasonable calculation. However, it is also necessary to gradually reduce and eventually eliminate the management of credit growth targets for each credit institution.
Commercial banks, including TP Bank, have a policy of 3 reductions including reducing lending interest rates (in 2024, TP Bank reduced about 1,900 billion for about 92,000 customers on a total outstanding loan of 183,000 billion to support the economy and support businesses); Reducing procedures, applying simplification of procedures; And reducing inappropriate internal processes and applying technology using big data so that the applied bank can evaluate...
Source: https://baophapluat.vn/nganh-ngan-hang-phai-tien-phong-trong-thuc-day-tang-truong-post539597.html
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