VOV.VN - Experts and businesses have recommended that the Government quickly accelerate the credit rating of bond issuers and move to strengthen the accountability of intermediaries as a way of minimising risks for investors engaging in the capital market.

The State Bank of Vietnam (SBV)’s decision to tighten control over real estate credit has helped to restrict speculation while making the market transparent and preventing a real state bubble, economic experts have said.

Deputy Prime Minister Le Minh Khai has approved the sovereign credit rating improvement project by 2030, part of an effort to make Vietnam a developing and upper-middle-income country with modern industry, heightening the country’s international reputation and reducing credit risks.

President Nguyen Xuan Phuc hosted a reception for Chairman and CEO of Korea Credit Guarantee Fund Yoon Dae-hee in Hanoi on April 14, during which the president suggested that the fund assist Vietnamese businesses to join global supply chains.

Some banks have temporarily stopped providing loans to the real estate sector in the short term in the wake of the State Bank of Vietnam (SBV)'s policy on controlling credit growth in risky areas.

Credit growth of credit institutions was quite positive at 5.04% at the end of the first quarter of this year, much higher than the 2.16% rise in the same period last year, the State Bank of Vietnam (SBV)’s Deputy Governor Dao Minh Tu said at the Government’s regular press conference.

A circular stipulating independent audits of credit institutions and foreign bank branches issued by the State Bank of Vietnam will take effect from April 15.

The State Bank of Vietnam (SBV) has issued Document No 1509, asking commercial banks to raise credit limits for a number of fuel firms, particularly those who import extra fuel at the request of the Ministry of Industry and Trade (MoIT).

Vietnam will soon disburse at least 50% of the VND350 trillion (US$15.42 billion) economic recovery package, the largest in its history, aiming to reboot the country’s economy after a long period of social and mobility restrictions due to the COVID-19 pandemic.

Loans of pandemic-hit enterprises will enjoy an interest rate cut of 2% under a government support package to remove difficulties for the businesses.