Prime Minister directs research on zero-interest rate package for businesses and people affected by storms and floods

The Prime Minister requested the State Bank and the banking system to study policies on debt extension, deferral, and freeze, credit policies, zero-interest packages, etc. to support businesses and people affected by storms and floods.

Prime Minister Pham Minh Chinh hopes that by the end of 2025, there will be at least 2-3 commercial banks in the group of 100 largest and most powerful banks in the Asia region - Photo: VGP

The direction was stated by Prime Minister Pham Minh Chinh when speaking at the conclusion of the Government Standing Committee Conference with joint stock commercial banks on solutions to contribute to the country's socio-economic development on the afternoon of September 21.

Do not criminalize civil-economic relations but resolutely handle violations

The head of the Government affirmed that the Party and State have a policy of not criminalizing economic and civil relations. At the same time, the Prime Minister noted that enterprises in general and commercial banks in particular must comply with the provisions of the law and not evade taxes. Along with that, the Prime Minister requested the Ministry of Public Security to have drastic solutions to handle violations, create an environment to consolidate and develop the system of financial institutions providing consumer loans, contributing to preventing black credit. Recalling the damage caused by storm No. 3 and recent floods, the Prime Minister hoped that commercial banks "continue to accompany the Party, State and people to overcome the difficulties and challenges that the whole world is experiencing, as well as the country's internal difficulties, especially after the natural disaster". Listing some difficulties and limitations that commercial banks face regarding debt collection, loan collateral, late tax payment penalties, etc. The Prime Minister requested that from now until September 25, the State Bank and the Ministry of Finance report and propose for the Government to report to the National Assembly Standing Committee and submit to the National Assembly in the upcoming 8th session.

Banking system needs to implement '6 increases, 6 decreases, 6 accelerations, breakthroughs'

Analyzing the situation in the coming time, the Prime Minister requested the banking system to implement "6 increases", "6 decreases", "6 accelerations, breakthroughs". Accordingly, the "6 increases" include: increasing the capacity of banking credit institutions; increasing access to and absorption of credit, especially for small and medium enterprises; increasing publicity and transparency in mobilization and lending interest rates and combating black credit; strengthening supervision, inspection and risk prevention, fighting corruption and negativity... The "6 decreases" include: reducing lending interest rates to a reasonable level; reducing transaction and operating costs; reducing administrative procedures; reducing inconvenience and harassment; reducing negativity, group interests, "backyards" and reducing bad debt...

"6 accelerations and breakthroughs" include: acceleration and breakthrough in digitalization; acceleration and breakthrough in service quality; acceleration and breakthrough in human resource quality; acceleration and breakthrough in reaching out to the international market...

The Prime Minister and representatives of commercial banks had an open exchange on the sidelines of the conference - Photo: VGP

The Prime Minister requested ministries, branches, localities and enterprises to continue to synchronously, drastically and effectively implement fiscal and monetary policy solutions to remove difficulties for businesses and people, control inflation and maintain macroeconomic stability. In particular, the State Bank immediately deployed tasks to support people and businesses suffering damage caused by storms and floods; coordinated with local People's Committees in implementing solutions to support people affected by storm No. 3; studied policies on debt extension, deferral, and freeze, credit policies, zero-interest packages, etc. Banks continued to proactively review and synthesize the damage of customers borrowing capital due to the impact of storm No. 3 to promptly apply support measures and remove difficulties for customers. The State Bank directed credit institutions and joint stock commercial banks to seriously, effectively and drastically implement solutions to reduce lending interest rates; resolutely direct the implementation of credit programs and policies, such as the VND 140,000 billion program for loans to support social housing and workers' housing... The State Bank must resolutely implement solutions to remove difficulties for businesses and people, especially extending the debt restructuring period and maintaining the debt group according to regulations, ensuring strict implementation, in accordance with regulations, preventing and stopping the exploitation of policies for personal gain. The head of the Government requested the State Bank to coordinate with the Ministry of Finance to continue implementing solutions to develop the corporate bond market and the stock market effectively, safely, healthily and sustainably; coordinate with the Ministry of Construction to implement solutions to remove difficulties for the real estate market in accordance with regulations and in accordance with practical situations to support economic growth. He also hopes that the joint stock commercial banking system will perform its tasks well, striving to have at least 2-3 banks in the group of 100 largest banks in the Asia region by the end of 2025.

Tuoitre.vn

Source: https://tuoitre.vn/thu-tuong-chi-dao-nghien-cuu-goi-lai-suat-0-dong-cho-doanh-nghiep-nguoi-dan-thiet-hai-do-bao-lu-2024092120244306.htm