Home > South & Southeast Asia

Vietnam urges banking sector to aid businesses to accelerate economic recovery

Source: Xinhua | 2023-04-27 | Editor:Lexi

Vietnam's central bank and the banking sector have been asked to quickly implement more policies to speed up economic recovery and provide support to businesses across the country, local media reported on Wednesday.

Vietnamese Prime Minister Pham Minh Chinh urged the State Bank of Vietnam and commercial banks to continue their support to property developers, such as bringing down current interest rates, which have been reported as unsustainably high by the industry, local newspaper Vietnam News reported.

Noting that the country's economic development has experienced some setbacks, with a recorded growth lower than last year, the leader said it is important to implement banking policies as tools to efficiently mobilize the country's resources, especially those of land and capital, and to overcome challenges.

Changes must be made to maintain stability and improve the liquidity of the property market, especially in current credit and finance regulations, he said.

He also instructed local governments to look into administrative issues that still hinder many property projects' progress, saying that to developers, it's equally important for such issues to be resolved promptly, the newspaper reported.

News

Medical use of AI models revolutionizes diagnoses

Video

Special coverage

BELT AND ROAD INITIATIVE

Into Yunnan

The 5th CSA Expo and the 25th Kunming Fa...
About us Internship Copyright statement Advertise with us

Follow us

Partner Links:

MY HOMIE
XINHUANET People's Daily Online CCTV News China Daily China.org.cn Guangming Online Qiushi Journal Online Kunming ftztime
Copyright @Kunming Information Hub 2019. All Rights Reserved. E-mail:inkunmingnews@gmail.com