The Vietnam central bank must apply an appropriate interest rate policy
and control bad debts to ensure the banking system's liquidity, while also
helping businesses access loans.
The instruction was made by Party
General Secretary Nguyen Phu Trong at a working session with key officials of
the State Bank of Vietnam and representatives of commercial banks in Hanoi on
Saturday.
While commending the central bank
for its efforts to stabilise the macroeconomy, curb inflation and ensure social
security, the party leader said the sector had to work out a detailed plan of
action to continue restructuring the banking system in a firm and effective
manner.
He stressed the central bank's
important role in the context of a socialist-oriented market economy in
Vietnam, saying that the bank must maintain a balance between exercising state
management over monetary and banking affairs and conducting normal banking
operations.
According to the central bank's
report, over the past years it has introduced both strict and flexible monetary
measures to contain inflation, stabilise the value of the domestic currency
(Vietnamese dong), prevent the dollarisation of the economy, increase foreign
currency reserves and improve the liquidity of credit institutions.
The Ministry of Planning and
Investment plays an important role in implementing national socio-economic
development plans and projects, Party General Secretary Nguyen Phu Trong said
at a working session on Saturday.
The Party leader was reported
that in the last two years the ministry had made significant contributions to
realising the country's socio-economic development plan, while hewing closely
to the Party National Congress' Resolution.
The ministry has worked on a
total of 240 bills, decrees, resolutions and projects that provided a
foundation for the Politburo, the National Assembly, and the government to
promptly issue resolutions and decisions.
The ministry has also helped the
government issue policies to attract foreign direct investment and official
development assistance and use these funds efficiently.
Trong reminded the ministry to
resolve overlapping plans, reduce ineffective investments and deal with
barriers in investment capital licencing and registration. He also suggested
concerned bodies set up statistical data on the mistry's role in the nation's
socio-economic development.
News Desk
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