PM demands strict control on forex rate, gold market

At the July regular cabinet meeting, PM Dung asked the State Bank of Vietnam (SBV) to take a more active role in dealing with bad debts and put the Vietnam Asset Management Company (VAMC) into operation soon in order to make it possible for businesses to access credit loans.

He urged the SBV to effectively implement incentive policies on housing aid and adjust interest rates in line with the inflation situation.

Credit growth needs stimulating, but bad debts must be lowered, Dung said, adding that capital should be channeled into priority-given sectors operating with high efficiency and competitiveness.

The central bank should help cement businesses clear their stockpile under the deferred payment scheme and sell products for traffic upgrade in rural areas, the Government leader suggested.