February 16, 2024 | 17:00 GMT+7

PM seeks removal of obstacles facing stock market upgrade

Tiến Dũng -

Vietnam’s stock market looking to move up from frontier status to emerging market status.

Prime Minister Pham Minh Chinh has requested that the Ministry of Planning and Investment (MPI) coordinate with the State Bank of Vietnam (SBV) to urgently address any obstacles to meet the necessary requirements for the country’s stock market to be upgraded from frontier status to emerging market status.

The MPI was also required to report on the results to the Prime Minister before June 30.

This is among the key tasks for the period after the Tet (Lunar New Year) holiday, set by Directive No. 06/CT-TTg issued by the Prime Minister on February 15.

The Prime Minister also asked MPI to coordinate with relevant ministries, agencies, and localities to promote the disbursement of public investment capital.

The Ministry of Finance was instructed to focus on effectively implementing financial and State budget tasks during 2024.

The Government leader asked the SBV to work with relevant agencies and localities to manage monetary policy in a proactive, flexible, timely, and effective manner, helping to stabilize the macro-economy, promote growth, curb inflation, and stabilize the monetary market and the banking system.

The central bank was also required to strive to cut lending interest rates and continue taking measures to accelerate the disbursement of the VND120 trillion ($4.89 billion) credit package for social housing development and the VND15 trillion ($612 million) credit package for the growth of forestry and fisheries.

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