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Prime Minister Lê Minh Hưng chaired a meeting with the State Bank of Vietnam (SBV) on the banking sector’s performance in the first months of 2026, outlining the direction, key tasks, and proposals for the near term. The PM said global and regional developments remain complex and unpredictable, with immediate impacts on macroeconomic management, including monetary policy, and that monetary policy implementation, credit management, and banking operations will continue to face many difficulties and challenges. exchange rates today
The PM emphasized that expectations for the SBV are high, from the Governor to relevant units. He called for a shift in mindset and operating methods—from management toward development—so the SBV can propose and formulate policies and use appropriate tools to create a stable, forecastable environment. The goal is to help people and businesses confidently engage in production and business, while also encouraging greater deposits into the banking system to mobilize resources for development.
The Prime Minister stated that operating the exchange rate, interest rates, and credit should be carried out with appropriate tasks and solutions aligned to higher targets in the new context. He reiterated the focus on achieving double-digit growth on the foundation of macroeconomic stability, inflation control, and the safety of the financial system. He also stressed the principle that macro stability is the cornerstone before adding floors, renovating, or building anew.
The PM directed the SBV to ensure the safety of banking operations and payment operations, strengthen risk prevention, and improve both remote supervision and on-site inspections. He also highlighted the need to secure cybersecurity and the payment system.
The Prime Minister instructed the SBV to coordinate with the Ministry of Finance to amend regulations and implement measures to promote capital market development and the international financial center, with the aim of easing pressure on the banking system. This includes revising Decree 153 on corporate bonds to clearly define transparency, disclosure, and fairness, so that all capable credit institutions may manage asset-backed bonds for private issuances. The PM also said the framework should require data linkage to state agencies to support supervision.
The PM said credit growth should be managed flexibly in line with actual conditions, with evaluation and enhancement of credit quality, a rational credit structure, and a focus on directing funds toward productive production, priority sectors, and growth drivers.
He also called for urgent study and proposals to amend laws related to granting credit beyond the limits of credit institutions for national-strategic projects. The PM requested strengthening the responsibility of credit institutions through tighter controls on credit quality and project effectiveness.
The Prime Minister further asked the SBV to study classifying types of real estate to set appropriate credit limits, while encouraging social housing and industrial zones.
The PM directed the SBV to strictly implement General Secretary To Lâm’s guidance in Notice 211-TB/VPTW 2025 on an effective mechanism to manage the gold market, using a phased plan aligned to current conditions.
"Gold is a commodity, an asset the people have the right to hold, but the State does not encourage it because it does not create added value for the economy; therefore we must limit hoarding and speculative behavior. The ultimate solution is that if we have a robust macroeconomic foundation, a publicly transparent and predictable legal system, and a predictable environment, people and enterprises will reduce holdings of those assets and feel confident to invest in production and business or at least increase deposits in the banking system, thereby mobilizing resources for development," the PM stated.
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