Study on expanding the scale of preferential credit programs for the forestry and fisheries sectors in Vietnam

Study on expanding the scale of preferential credit programs for the forestry and fisheries sectors in Vietnam

In order to continue to prioritize maximizing growth promotion in association with maintaining macroeconomic stability, controlling inflation, and ensuring the major balances of the economy; decisively saving regular expenditures, and increasing spending on development investment, the Government of Vietnam has requested the State Bank of Vietnam to take the lead, cooperating with relevant agencies to implement several tasks as follows:

- Proactively, flexibly, promptly, and effectively manage monetary policy, closely and synchronously coordinate with fiscal policy and other macroeconomic policies to contribute to promoting economic growth, ensuring stability in the monetary market, foreign exchange market, gold market, and the banking system. Use the management tools effectively to regulate exchange rates and interest rates in line with macroeconomic developments and set targets.

- Continue to direct commercial banks to reduce costs, enhance the application of information technology to lower lending interest rates, promote credit growth, channel credit into production and business sectors, prioritized areas, economic growth drivers, and recovery efforts for natural disaster damages.

- Timely address obstacles and effectively implement the 140 trillion VND social housing loan package; research expanding the scale of the preferential credit program for the forestry and fisheries sectors to approximately 50 - 60 trillion VND.

Additionally, the Government of Vietnam has also requested the Ministry of Industry and Trade to take the lead, cooperating with ministries, agencies, and localities to closely monitor market developments, promptly provide management solutions, regulate production, stabilize the supply and demand of goods, especially essential goods such as food, energy, and other essential commodities; firmly ensure national energy security, and absolutely prevent shortages of electricity and fuel supplies in all situations.

More details can be found in Resolution 128/NQ-CP dated September 8, 2024.

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