SBV urges curb on loans for non-production activities
The State Bank of Vietnam (SBV) has asked chairpersons of the people’s committees of provinces and cities to instruct SBV branches and credit organisations in the localities to keep loans to non-production sectors such as real estate and securities at reasonable levels.
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In a document issued on March 1, the central bank also urged its branches and credit organisations to improve credit quality to focus capital on production and business activities in the areas of agriculture, rural areas and export.
The leaders of the provincial and city people’s committees were asked to instruct relevant departments and agencies to inspect gold and forex trading activities as well as apply strict punishments on speculations and any violations of regulations on this field.
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