Vietnam Prime Minister orders lower lending rates and tighter gold market control

Prime Minister Lê Minh Hưng has directed credit institutions to reduce costs and stabilize interest rates to ensure real reductions in lending rates. During a meeting with the State Bank of Vietnam (SBV) and various credit institutions, the Prime Minister emphasized that the banking and monetary systems are vital to the economy, playing a crucial role in maintaining macroeconomic stability, controlling inflation, and driving sustainable growth.

The Prime Minister highlighted that the banking sector must transition toward greater safety, efficiency, and modernity. Key priorities include balancing credit growth with risk control, integrating digital transformation with data security, and aligning international integration with global governance standards.

To support potential double-digit economic growth, the Prime Minister instructed the SBV to manage monetary policy with a focus on maintaining macroeconomic balances and ensuring system safety. He stressed the importance of strengthening the foundations of economic stability to build confidence among citizens and businesses in the SBV's management capabilities.