From 2026, pilot removal of credit growth target assignment measure

*The Prime Minister requested to boost the State budget revenue in 2025 to increase by at least 25% compared to the estimate.*

Responding to stock market upgrade

In the telegram, the Prime Minister requested to continue implementing a reasonable, focused, and effective expansionary fiscal policy.

The Ministry of Finance completes tax institutions and policies in accordance with the country's development situation and requirements, and the income of people and businesses; expands the revenue base, especially revenue from e-commerce and food services. The Ministry will boost the State budget revenue in 2025 to increase by at least 25% compared to the estimate.

The Prime Minister stated that it is necessary to continue implementing policies on tax, fee, land rent exemption and extension and other mechanisms and policies to facilitate people and businesses, promote production and business, create jobs and livelihoods, etc.

The Prime Minister requested drastic implementation of solutions to develop the stock market and corporate bond market in a stable, safe and healthy manner, becoming an effective medium and long-term capital mobilization channel for the economy , contributing to supporting monetary policy; urgently completing the prescribed criteria to meet the upgrading of the stock market from a frontier market to an emerging market.

Ministries, sectors and localities focus on directing, avoiding interruptions and delays in disbursing public investment during the implementation phase of the 2-level local government model; striving to achieve a minimum disbursement rate of about 60% of the plan by the end of the third quarter; and 100% of the 2025 capital plan for the whole year.

Strictly handle violations of banking activities

The Prime Minister requested the State Bank of Vietnam (SBV) to direct credit institutions to continue to cut costs, simplify administrative procedures, and promote digital transformation to create room to reduce lending interest rates; and direct credit to production and business sectors, priority sectors, and traditional growth drivers of the economy.

In particular, the State Bank needs to step up the handling of bad debts, strictly control credit flows to potentially risky areas; further promote and improve the effectiveness of inspection, examination and supervision of credit institutions to prevent and strictly handle violations in banking activities (especially acts of manipulation, cross-ownership, granting credit to "backyard" enterprises, etc.).

The Prime Minister assigned the State Bank of Vietnam to develop a roadmap and pilot the removal of credit growth quotas from 2026; manage exchange rates in a flexible, harmonious, effective, and reasonably balanced manner with interest rates; strictly manage the foreign exchange market; and stabilize the value of the Vietnamese Dong.

The Prime Minister requested to closely monitor the developments in world and domestic gold prices, promptly implement necessary solutions and tools according to regulations to stabilize the gold market, narrow the gap between international gold prices and domestic gold prices, and not to negatively impact exchange rates, interest rates, the monetary and foreign exchange markets, and national financial and monetary security and safety, and adversely impact macroeconomic stability.

The State Bank of Vietnam has increased inspections and checks to detect and strictly handle violations, especially acts of manipulation, hoarding, smuggling, speculation, profiteering, illegal trading, etc. that cause instability in the gold market.

The State Bank promptly issued documents guiding the implementation of Decree No. 232/2025/ND-CP on the management of gold trading activities (including the abolition of the monopoly on gold bars), and had solutions to effectively prevent negative impacts on the gold market during the transition period...

Source: https://htv.com.vn/tu-2026-thi-diem-go-bo-bien-phap-giao-chi-tieu-tang-truong-tin-dung-222250908151659361.htm