Vietnam central bank must prepare plan to resolve bank liquidity problem in q1/2012

Vietnam government issued Resolution No. 03 on Feb 8, in which it asked the State Bank of Vietnam (SBV) to prepare plan to resolve liquidity problem of the local banking system within the first quarter of 2012.

In addition, the central bank is requested to implement measures to encourage, support credit institutions to prioritize funds for agricultural production, rural development, exports, processing industries, support industries, as well as small and medium enterprises (SMEs), etc. The SBV is also asked to closely monitor the market to prepare plan to lower interest rates to an appropriate level at the right time.

Besides, the Ministry of Planning and Investment (MOIP) has to prepare measures to attract more foreign direct investments (FDI), especially from multi-national corporations; review and classify troubled enterprises to have suitable policies to support them.

The government requested the Ministry of Finance (MOF) to conduct researches and suggest solutions and roadmap to adjust prices of some necessity goods in line with market price mechanism.

The Ministry of Industry and Trade (MOIT) must implement measures to expand the domestic market and boost the local people’s consumption, continue to closely control the imports of unnecessary commodities.

Source Sophie/ StoxPlus

Tags: Vietnam banking industry, Vietnam finance, Vietnam financial

Posted by VBN on Feb 9 2012. Filed under Banking-Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry