The Prime Minister requested to continue reducing the lending interest rate level.

The Prime Minister's request to continue reducing the lending interest rate level is the content mentioned in Official Dispatch 18/CD-TTg dated March 5, 2024 on credit growth management in 2024.

Accordingly, in order to continue to improve the effectiveness of monetary policy instruments and resolutely implement solutions on interest rate and credit management to support production and business activities of people and enterprises, promote economic growth, stabilize the macro-economy, control inflation, and ensure major balances of the economy, the Prime Minister requested the State Bank of Vietnam to direct and request credit institutions to:

Closely following the directions of the Government and the State Bank of Vietnam , continue to reduce the lending interest rate level (cut costs; simplify administrative procedures, increase the application of information technology, digital transformation...); publicly announce the average lending interest rate so that people and businesses can easily access credit and choose banks to borrow capital.

Promote the effective implementation of preferential credit packages suitable to the characteristics of each credit institution for important sectors and growth drivers of the economy according to the Government's policy; promote the pioneering and exemplary role of effective credit institutions and state credit institutions; enhance the social responsibility and business ethics of credit institutions in sharing and supporting people and businesses.

Continue to direct credit capital to production and business sectors, priority sectors and traditional growth drivers such as consumption, investment, export, digital transformation, climate change response, green transformation, circular economy, science and technology and innovation... of the economy according to the Government's policy; continue to strictly control credit in potentially risky sectors; ensure safe and effective credit operations. Strengthen communication and information work, guide customers and beneficiaries in accessing policies. Focus on clear, complete, transparent and accurate communication about credit and foreign exchange policies, products and services of credit institutions to the public.

HL.

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