Prime Minister Pham Minh Chinh has issued a decision setting up a steering committee for restructuring the network of credit institutions, which he will chair.

Deputy Prime Minister Le Minh Khai and State Bank of Vietnam Governor Nguyen Thi Hong will be deputy heads.

The committee is responsible for helping the Prime Minister direct and implement solutions to restructure credit institutions associated with bad debt settlement, under goals and orientations set by Decision No. 689 dated June 8, 2022, approving the scheme on restructuring the credit institution system associated with the handling of non-performing loans for the 2021-2025 period and amending and supplementing documents.

It will propose solutions for resolving important problems, difficulties, and challenges in restructuring the network of credit institutions.

It will also perform other tasks relating to restructuring, as the Prime Minister requests.