Vietnam’s banking sector needs to reduce interest rates, increase capital access, adopt policies to restructure debts, and speed up the reform of credit institutions as part of measures to maintain the pace of economic growth, analysts told the 2023 Banking Forum on May 10.

The forum focused on Vietnam’s monetary policy amid global economic uncertainties.

Monetary policy needs to diversify its goals, including stabilizing the monetary and finance situation in the context of uncertainties in the market.

Analysts recommended continuing policies to extend and reduce taxes and fees and to speed up value-added tax (VAT) refunds.

They also suggested improving the investment and business environment and boosting administrative reform.

It is also necessary to speed up the disbursement of public investment capital and the socio-economic recovery program, according to participants.