Prime Minister of Vietnam directs various measures to reduce lending interest rates

Prime Minister of Vietnam directs various measures to reduce lending interest rates

According to the content of Notice 61/TB-VPCP in 2025, to achieve growth targets, the State Bank of Vietnam and the entire commercial banking system need to focus on, thoroughly grasp, and proactively implement the following 8 key task groups and solutions:

- Continue to reduce operating costs, especially unnecessary activities; focus on restructuring and reorganizing to operate more effectively;

Sacrifice part of the profit to reduce lending interest rates to support people and businesses in overcoming difficulties, promote the development of production and business, create jobs, and livelihoods for people and for the benefits of the banking system.

- Focus credit on priority sectors, traditional growth drivers (investment, consumption, export), and new growth drivers;

Urgently research to develop consumer lending packages, credit packages for key economic sectors, create more jobs and shift economic structures, lend for BOT projects, public-private partnerships, lend to resolve difficulties for real estate projects, lend to serve production, business in accordance with the law.

- Pioneer, take the lead in digital transformation, build a digital database, apply science and technology, innovate, actively participate in Scheme 06 to minimize social cost, time, and resources; research the pilot on digital banks.

- Cut down on bothersome administrative procedures, harassment, strictly address negative behaviors, corruption, waste, group interests, manipulation, profiteering in banking activities; resolutely deal with bad debts to have resources that facilitate people, businesses in accessing credit sources...

More details can be found in Notice 61/TB-VPCP dated February 25, 2025.

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