As the global economic landscape continues to present numerous uncertainties, State Bank of Vietnam will proactively and flexibly manage monetary policy to ensure Vietnam's economy remains not only stable but also robustly grows. Our goal is to create the most favorable environment for business activities, stimulate growth drivers, and strengthen market confidence through comprehensive and targeted solutions.
Key Orientations for the Second Half of 2025:
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Reducing Capital Costs for the Economy: The SBV will continue to direct credit institutions (CIs) to minimize operating costs, enhance the application of information technology, and accelerate digital transformation. The objective is to enable CIs to further reduce lending interest rates, thereby directly supporting businesses and individuals in accessing capital at more reasonable costs, stimulating production, business, and investment.
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Flexible Exchange Rate Management and Foreign Exchange Market Stability: The SBV will continue to closely monitor international and domestic market developments. Exchange rate management will be conducted flexibly, aligning with market conditions, while synchronously coordinating with other monetary policy tools to stabilize the foreign exchange market. This will contribute not only to macroeconomic stability but also to effective inflation control.
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Promoting Safe and Effective Credit Growth: The SBV will continue to implement credit management solutions consistent with macroeconomic developments, inflation, and the economy's capital absorption capacity. We will direct CIs to achieve safe and effective credit growth, channeling capital towards production and business sectors, priority areas, and key economic growth drivers as guided by the Government and the Prime Minister. Concurrently, the SBV will strictly control credit extended to potentially risky sectors.
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Intensifying Restructuring and Bad Debt Resolution: The Project on restructuring the system of credit institutions in conjunction with bad debt settlement for the 2021-2025 period will continue to be implemented. The SBV will accelerate bad debt resolution, while deploying measures to prevent and limit the emergence of new bad debts, thereby contributing to the health and safety of the banking system.
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Driving Digital Transformation and Ensuring Banking Security: The SBV will focus on implementing decrees related to e-commerce and the Sandbox mechanism in the banking sector. We will effectively coordinate the implementation of the banking sector's digital transformation plans, including Project 06 and Resolution No. 57-NQ/TW. Furthermore, the SBV will strengthen the security, safety, and confidentiality of payment and banking activities, protect customers' legitimate rights and interests, and promote communication and financial education to enhance public knowledge and skills in using financial and banking products and services.
SBV/VNBA News
