Prime Minister Pham Minh Chinh chairs the conference on April 15 - Photo: VGP/Nhat Bac

Speaking at the Conference, Governor Nguyen Thi Hong said: To promote high economic growth, capital requirements are very important. With the characteristics of Vietnam, the investment capital needs of enterprises are largely dependent on credit capital of the banking system. Therefore, from the beginning of the year, the State Bank set a credit growth target of 16% this year. This is a high level compared to recent years and has also been notified to credit institutions from the beginning of the year to be proactive. By the end of the first quarter, credit growth was 3.93% compared to the end of 2024 and increased by 18% over the same period. This is a high level compared to the same period last year (only increased by 1.34%).

Governor of the State Bank of Vietnam Nguyen Thi Hong speaks at the Conference - Photo: VGP/Nhat Bac

The Governor said that the State Bank will closely monitor and may make adjustments if inflation is controlled. In particular, recently, the Prime Minister directed the development of a VND500,000 billion package to support credit and implement solutions for businesses investing in infrastructure and digital technology.

“We have worked with banks and sent documents to the Ministry of Science and Technology, the Ministry of Construction and the Ministry of Industry and Trade to compile a list of key projects for synthesis and next steps. We hope that ministries and branches will pay attention and give their opinions to the State Bank soon,” the Governor informed.

Photo: VGP/Nhat Bac

According to the Commander of the Banking Industry, the economy wants high growth while financial resources are limited, so promoting innovation and digital transformation is the top priority and the main driving force. This is the guiding spirit of Resolution 57. The State Bank also thoroughly understands this Resolution.

Over the past time, the banking system has been one of the leading ministries and sectors in digital transformation. Along with promoting digital transformation is implementing solutions to ensure security, safety and information confidentiality.

According to the Governor, to promote digital transformation, there must be a data ecosystem. Recently, the Ministry of Public Security has developed Project 06 on population data. In the coming time, this database will be enriched, which will be very good for the digital transformation process of the economy in general and the banking industry. In particular, it is necessary to build a data ecosystem for businesses to promote digital transformation.

Businesses attending the Conference - Photo: VGP/Nhat Bac

To create a stable business environment for businesses and people, including state-owned enterprises, the issue of monetary policy management to help control inflation and stabilize the currency and foreign exchange markets in the current context is extremely challenging. The State Bank will be determined and closely monitor the world and domestic situation to be able to manage appropriate solutions with appropriate doses and timing, helping to stabilize the situation.

Regarding EVN's proposal on foreign currency lending, the State Bank has issued a document on this issue. In particular, the State Bank is also very interested in the foreign currency needs of large and key projects. For example, last year, state-owned commercial banks also financed the Long Thanh Airport project with 1.8 billion USD. "We will balance the overall capacity of the system's foreign currency resources, so that we can meet capital needs while also ensuring exchange rate management and stabilizing the currency and foreign exchange markets," the Governor said.

Source: https://thoibaonganhang.vn/dap-ung-nhu-cau-von-dam-bao-on-dinh-thi-truong-tien-te-ty-gia-de-ho-tro-tang-truong-162803.html