To distinguish the bonds of economic organizations and institutions in Vietnam

To distinguish the bonds of economic organizations and institutions in Vietnam (Internet image) 

Content mentioned in Notice 297/TB-VPCP in 2023 on the Prime Minister of Vietnam's conclusion at the Conference on preliminary review of banking activities in the first 6 months of the year and implementation of tasks for the last 6 months of 2023 issued by the Government Office.

To distinguish the bonds of economic organizations and institutions in Vietnam

Specifically, the Prime Minister assigned the State Bank of Vietnam to coordinate with the Ministry of Finance to continue implementing solutions to develop the corporate bond market and the stock market in an efficient, healthy, safe, and sustainable manner;

Continuing to improve the legal framework, have risk control tools, study the distinction between bonds issued by economic organizations and institutions, and have an appropriate management mechanism;

Creating medium- and long-term capital mobilization channels for the economy, reducing dependence on bank credit capital; and strengthening the state management, inspection, examination, and supervision of the connection between the money and credit markets and the securities and corporate bond markets.

In addition, the State Bank is also assigned to implement a number of key solutions, as follows:

- Continue to drastically and effectively perform their roles, functions, tasks and responsibilities, being the state management agency in charge of money and banking, performing the functions of the central bank in order to stabilize the currency value, ensure the safety of banking operations and the system of credit institutions, the safety and efficiency of the national payment system, and provide credit capital for the economy; firmly grasp the situation and developments at home and abroad; closely follow reality, make accurate forecasts for a more timely, responsive, appropriate and effective policy response; strengthen the state management, closely inspect, examine and supervise the operation of the financial and monetary markets, banking activities and the system of credit institutions.

- Continue to implement proactive and flexible monetary policy (continue to reduce lending interest rates, increase credit limit in line with market developments, timely and effective M2 money supply when necessary, focus credit on growth drivers: investment, consumption, export...), timely, effective, synchronous, close and harmonious coordination with the expansionary fiscal policy which is reasonable, focused, focused, effective, quick and decisive; operating a harmonious, reasonable and effective balance between interest rates and exchange rates, between inflation and growth in order to stabilize the macro-economy, control inflation, and ensure great balances of the economy; Prioritize removing difficulties for production and business.

- Continue to review and perfect institutions, mechanisms, and monetary and banking policies, including finalizing the draft Law on Credit Institutions, amending and supplementing on schedule and with quality in the spirit of sticking to reality and collecting opinions from the full participation of regulated entities to remove arising difficulties and obstacles, strengthen decentralization, clearly define and personalize individual responsibilities, supplement regulations, and use tools for control. Researching the legalization of the relationship between banks and borrowers, debt collection rights to improve the borrower's responsibility. Continue to comprehensively review the promulgated legal documents to amend and supplement, not to leave loopholes, profiteering, or legal gaps that cause insecurity and safety in the credit institution system.

More details can be found in Notice 297/TB-VPCP in 2023.

Duong Chau Thanh

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