Monetary policies to be managed flexibly to rein in inflation: Deputy PM
Deputy Prime Minister Le Minh Khai clarified a number of issues raised by National Assembly (NA) deputies regarding banking activities on June 9 as part of the ongoing NA third meeting's question-and-answer session.
Hanoi (VNA) – Deputy Prime MinisterLe Minh Khai clarified a number of issues raised by National Assembly (NA)deputies regarding banking activities on June 9 as part of the ongoing NA third meeting's question-and-answer session.
The Deputy PM cited the State Bank ofVietnam (SBV) Governor’s affirmation as saying that the increasing inflation does not come from recent monetary policies, especially in the first fivemonths of this year, but from the rise in prices of commodities.
He said that the Government will continue to stick to NA resolutions and keep aclose watch on the domestic situation to manage monetary tools and policies inan active, flexible and synchronous manner, aiming to curb inflation,stabilise the monetary and foreign exchange markets, while drastically implementingmonetary policy solutions to support the implementation of the socio-economicrecovery and development programme.
The Government will also make sure that interest rate management will match macrobalances as well as inflation and monetary policy targets, and continue to removedifficulties for and support COVID-19-hit businesses and ensure safety for bankingactivities, he stated.
Regarding credit room, an issue that draws NA deputies’ attention, Deputy PM askedthe SBV to consider the regulations, conditions and criteria for granting morecredit rooms to ensure coherence.
Over the restructuring of credit institutions, he said that legal framework inthe field has been completed, resulting in positive changes in their scale,financial capacity, credit quality and operational efficiency, contributing to mobilisingresources for socio-economic development, especially for prioritised sectors.
He noted that the PM has issued Decision No. 689/QD-TTg approving a project torestructure credit institutions in association with the settlement of bad debts inthe 2021-2025 period, which provides many measures to enhance the efficiencyand transparency of the banking sector and ensure safety for the bankingsystem. The decision also sets targets in application of Basel II standards forbanks, aiming to make Vietnam one of the four leading countries in ASEAN in thefield in 2025, he added.
Mentioning measures to deal withinefficient banks, he said that so far, the Government hasreceived directions from the Politburo for a report on the plan to settle fourweak commercial banks. Accordingly, the Government will direct the SBV to givespecific plans to seek approval in the time to come, he added.
Over the control of credit in securities, bond and real estate sectors, Deputy PM Khai saidthat the Government and the PM have equested the SBV to make sure that creditmanagement activities fully and promptly meet the capital demand for businessactivities, guiding credits to prioritised sectors in parallel with tightcontrol of risky areas./.
Legislators will continue with the question and answer (Q&A) session on June 8, as part of the third sitting of the 15th National Assembly, with a focus on agriculture and rural development, finance and banking.
Chairman of the National Assembly (NA) Vuong Dinh Hue on June 8 demanded prompt implementation of fiscal and monetary policies to support the socio-economic recovery and development programme.
The National Assembly (NA) spent the 13th working day of its third session on asking officials about issues relevant to agriculture and rural development, finance, and banking.
The Party chief attributed the achievements in the first half to the continuous, direct, and comprehensive leadership of the Politburo and the Secretariat of the Party Central Committee, and the close and effective coordination of relevant ministries, sectors and localities.
General Nguyen Tan Cuong, Chief of the VPA’s General Staff and Deputy Minister of National Defence reaffirmed Vietnam’s unwavering gratitude for Cuba’s invaluable support during its struggle for independence and nation-building efforts, and pledged to stand shoulder-to-shoulder with Cuba as it navigates current challenges.
Vietnam is a country with which Russia shares a special relationship. In the 1950s and 60s, particularly during Vietnam’s struggle for independence, the two countries forged a deep bond. While much has changed over time, the friendship and cooperation between our nations have endured, said Russian President Vladimir Putin.
For 50 years, Vietnam and New Zealand have worked together to uphold peace and prosperity for their peoples and the region. The friendship, cooperation, and mutual understanding Vietnam and New Zealand nurtured have grown from a seed into a deeply rooted, strong, and thriving tree, she stressed.
Since the Strategic Partnership was established in 2020, Vietnam and New Zealand have witnessed steady growth in the relations. Beyond the remarkable 40% increase in bilateral trade over five years, political relations and multilateral interactions, particularly within the CPTPP framework, have remained highly positive.
Known as the “four pillars for Vietnam’s ascend”, the Pobiburo's Resolutions 57, 59, 66, and 68 focus on cultivating a robust national entrepreneurial spirit, unlocking resources for innovation across society, and accelerating the development of digital economy, knowledge-based economy, green economy, and circular economy, propelling Vietnam forward rapidly and firmly on the path of modernisation and international integration.
Minister of Finance Nguyen Van Thang cleared up deputies' concern regarding how to spur socio-economic growth, renew traditional growth motives and establish new momentum for development.
Vietnam proposed several priorities: narrowing the digital divide, strengthening women’s leadership in the digital economy and AI governance, and mobilising sustainable financing for gender equality initiatives in line with each country’s national priorities and context. Vietnam also advocated for genuine women’s participation and leadership across all areas of public life.
Ha expressed his hope that cooperation in science and technology, agriculture, and natural resources would emerge as new focal points and engines of growth in Vietnam–China relations.
Giang said he believes that building on the solid foundation nurtured over the past half-century and the strong determination of both nations, the Comprehensive Strategic Partnership will continue to grow in a more robust, comprehensive, and extensive manner, thus bringing more practical benefits to the two nations' people.
Highlighting the transformative potential of the draft law in revitalising Vietnam’s railway industry, Hoang Van Cuong, a deputy of Hanoi, expressed his support for Article 39, which empowers the Prime Minister to issue a list of railway-related goods and services to be assigned or ordered from domestic enterprises for production.
According to the Ministry of Public Security, Hoan, formerly Deputy Minister of Labour, Invalids and Social Affairs, is under investigation for allegedly taking bribes in connection with a case involving the Hoang Long Construction and Manpower Supply JSC and related units.
Chairing a national conference on the organisation of the examination on June 18, the PM highlighted the historical significance of the examination, as the restructuring of provincial-level administrative units is underway and the two-tier local administration model is set to officially begin operations on July 1.
Right on the same day, the ministry issued its highest-level travel warning, urging Vietnamese citizens not to travel to Israel or Iran, and advised those already in these countries to swiftly consider evacuation or relocation plans.
From the struggles against colonialists and imperialists to the period of Doi moi (renewal) and international integration, the Vietnamese revolutionary press has always played a pioneering role on the ideological and cultural front, he said.
The Party leader's working session with the standing boards of the Party Committees of HCM City, Ba Ria – Vung Tau and Binh Duong, the VNA General Director's remarks on the occasion of the 19th OANA General Assembly, the launch of new NIC - Google initiatives aimed at bolstering AI entrepreneurship and digital literacy in Vietnam are among news highlights June 18.
Vietnam and Indonesia reaffirmed their commitment to strengthening cooperation in combating terrorism as it remains a threat to peace, security, and stability across their respective nations, the broader region, and the international community.
Deputy Prime Minister Le Minh Khai (Photo: VNA) 
