The State Bank of Vietnam (SBV) will continue to stabilise the value ofthe national currency (VND) and improve its position in investmentchannels, considering this a long-term strategy in steering monetarypolicy, SBV Governor Nguyen Van Binh has affirmed.
Vietnam has achieved notable success in this task, he said, adding thatover the past two years, VND deposits in banks have been profitable andsafe.
Binh also advised people to continue to keeptheir savings in VND in banks because it is a safe and attractiveinvestment channel, that can ensure the benefits of the depositors.
This is also the bank’s target in steering monetary policy, he stressed.
According to the Governor, the SBV has dealt with nine weak banks in amove to implement its project to restructure the banking system fromnow to 2020, which has been approved by the Prime Minister.
The bank will continue this task to ensure the project’s mid-term 2015 target and the long-term target to 2020, he said.
Binh further said that dealing with bad debts is urgent.
As the State budget has to serve socio-economic development and socialsecurity, the establishment of the Vietnam Asset Management Company(VAMC) is a suitable model to settle bad debts, easing the burden on theState budget, he said.
Though the company has notyet solved the problem completely, it still acts as an appropriateinstrument for banks, enterprises, investors and the whole economy, heaffirmed.
The bank has also issued policies tosupport agricultural production. To facilitate farmers’ access to loans,the SBV has applied a ceiling interest rate for long-term loans withthe current rate being 9 percent.
If farmers oragricultural enterprises prove that their projects will be productive,they will be given access to loans, Binh affirmed.-VNA
Vietnam has achieved notable success in this task, he said, adding thatover the past two years, VND deposits in banks have been profitable andsafe.
Binh also advised people to continue to keeptheir savings in VND in banks because it is a safe and attractiveinvestment channel, that can ensure the benefits of the depositors.
This is also the bank’s target in steering monetary policy, he stressed.
According to the Governor, the SBV has dealt with nine weak banks in amove to implement its project to restructure the banking system fromnow to 2020, which has been approved by the Prime Minister.
The bank will continue this task to ensure the project’s mid-term 2015 target and the long-term target to 2020, he said.
Binh further said that dealing with bad debts is urgent.
As the State budget has to serve socio-economic development and socialsecurity, the establishment of the Vietnam Asset Management Company(VAMC) is a suitable model to settle bad debts, easing the burden on theState budget, he said.
Though the company has notyet solved the problem completely, it still acts as an appropriateinstrument for banks, enterprises, investors and the whole economy, heaffirmed.
The bank has also issued policies tosupport agricultural production. To facilitate farmers’ access to loans,the SBV has applied a ceiling interest rate for long-term loans withthe current rate being 9 percent.
If farmers oragricultural enterprises prove that their projects will be productive,they will be given access to loans, Binh affirmed.-VNA
