Prime Minister Pham Minh Chinh signed a document on July 27 seeking measures to increase the capacity of businesses to access credit.

He asked the State Bank of Vietnam (SBV) to coordinate with relevant agencies to resolutely implement the tasks and solutions set by government resolutions and continue to pursue active, flexible, and effective monetary policy to tackle difficulties facing businesses, promote growth, stabilize the macro-economy, control inflation, and ensure major balances in the economy.

The central bank was instructed to continue taking comprehensive measures to cut interest rates, especially lending rates.

The government leader directed the SBV to examine and supervise commercial banks’ activities in credit provision and review and adjust loan criteria and conditions to help individuals and businesses access credit.

Measures are also needed to accelerate the disbursement of the VND40 trillion ($1.68 billion) credit package on interest rate support and the VND120 trillion ($5.06 billion) package on the development of social housing, he said.