Gov’t plans to fix all weak banks in 2013

October 08, 2012 | 10:12

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The government has tasked the State Bank of Vietnam to take necessary measures to tighten discipline on the banking sector and fix all weak banks in 2013, according to the government’s newly-issued resolution.

The central bank is also asked to design comprehensive solutions to deal with non-performing loans, increase foreign reserve, and strictly control the exchange rate.

The government will continue to pursue flexible monetary policy to help businesses access to capital while trying to avoid the recurrence of high inflation.

The resolution also says that the government will continue to offer three-month extension of value-added tax payment of June 2012.

The Ministry of Planning and Investment is responsible for coordinating with ministries, agencies and localities to do well in compensation and site clearance, speed up investment promotion and take more measures to mobilize and disburse ODA and FDI capital.

The ministry must quickly renovate statistics method in accordance with international standard to improve the precision of socio-economic data to serve the government’s management and direction.

VGP

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