Business

PM orders measures to increase businesses’ credit access

Prime Minister Pham Minh Chinh on July 27 signed to issue a document clarifying measures to enhance businesses’ access to credit.
PM orders measures to increase businesses’ credit access ảnh 1The Prime Minister orders measures to increase businesses’ credit access (Photo: baochinhphu.vn)
Hanoi (VNA) – Prime Minister Pham Minh Chinh onJuly 27 signed to issue a document clarifying measures to enhance businesses’access to credit.

The leader requested the State Bank of Vietnam (SBV) tocoordinate with relevant agencies to continue implementing tasks and solutionsstated in relevant resolutions of the Government, regulating monetary policiesin an active, timely and flexible manner to suit the reality, ensuring a systematic, close and harmonious combination with expanded fiscal policies,thus removing difficulties for business and production, promoting growth inparallel with stabilising the macro-economy, controlling inflation and ensuringmajor economic balances.

The central bank was ordered to roll out concerted and drastic measuresto reduce interest rates, especially those for lending.

The PM asked for prompt inspection andsupervision over commercial banks in credit provision activities, as well asthe reviewing of all procedures and conditions for credit granting, thus rolling out strong, substantial and effective solutions to quickly improve people and businesses’access to credit and the capital absorption capacity of the economy, whileensuring the operational safety of credit institutions. This task must becompleted within July, the PM ordered.

He also asked the SBV to cooperate with relevantagencies to promptly come up with feasible and effective measures to disbursethe 40-trillion-VND (1.69 billion USD) credit support package and the120-trillion-VND social housing support package. It isnecessary to review lending conditions, he added.

At the same time, the PM stressed the need to inspect, examine and supervisethe implementation of regulations on rescheduling debt repayment and maintainingthe same debt group of credit institutions, thus supporting enterprises toquickly reduce current difficulties and restore production and businessactivities. The work must also be finished in July, ordered the leader.

The PM asked the SBV to work with theMinistry of Finance in inspecting, examining and supervising the provision ofinsurance services and the selling of insurance products through banks.

Meanwhile, the Ministry of Finance was requested tocoordinate with the bank and relevant agencies to promptly conduct inspections,examinations and supervision over the provision of insurance services andselling of insurance products through banks as well as activities of insurance firmsto discover law violations and frauds and apply settlement and adjustmentmeasures. This work must also be completed within July, he stressed./.
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