Vice Governor of the SBV Pham Thanh Ha spoke at the opening of the conference, stating that, in line with the Government and Prime Minister’s instructions to strive for lower lending rates to achieve the economic growth target of 8% and above for 2025, and the SBV Governor’s Directive 01/CT-NHNN dated January 20, 2025, the SBV has proactively, flexibly, timely, and effectively implemented monetary policies since the beginning of the year. This has been done in coordination with fiscal and other policies, contributing to promoting strong economic growth while maintaining macroeconomic stability, curbing inflation, and ensuring the economy’s major balances.
Vice Governor of the SBV Pham Thanh Ha chaired the conference
|
Specifically, the SBV has directed credit institutions (CIs) to implement comprehensive solutions to stabilize deposit interest rates and strive to reduce lending rates, thereby facilitating businesses and individuals’ access to credit. In February 2025, the SBV also held a conference to communicate the Prime Minister’s directive on stabilizing deposit rates and reducing lending rates for CIs. At the conference, the CIs committed to maintaining a stable and reasonable deposit interest rate structure, combining transparency and healthy competition in capital mobilization; achieving safe credit growth, applying digital transformation solutions, maximizing operational cost savings, and being ready to share a portion of profits to reduce lending rates…
According to the Vice Governor, the economy has maintained its growth momentum, with GDP in the first six months of 2025 increasing by 7.52%, the highest level for the same period since 2021-2025. Inflation has been curbed, with an average of 3.27% in the first six months, in line with the National Assembly’s target. The money and foreign exchange markets remain stable.
Credit has seen positive growth from the beginning of the year, an improvement compared to the same period in 2024. As of July 29, 2025, the credit growth of the whole system increased by 9.8% compared to the end of 2024 and by 19.8% compared to the same period, both positive growth rates compared to recent years. The deposit interest rate structure has remained relatively stable, and lending rates have continued to show a downward trend compared to the end of 2024. CIs have published lending rate information on their websites to provide additional references for customers when accessing loans.
 Conference Overview
|
The Vice Governor emphasized that the Prime Minister has been closely monitoring and providing direct guidance on interest rate developments. Recently, the Prime Minister instructed the SBV to continue monitoring the stabilization of deposit interest rates and the reduction of lending rates by CIs and to accordingly take appropriate measures. Based on this, the SBV organized a meeting with the CIs to further communicate and request their strict implementation of the directives regarding stabilizing input costs and striving to reduce lending rates to support economic recovery and development.
For the conference to be focused and effective, the Vice Governor requested that the delegates concentrate on discussing the banks’ business, credit, and interest rate situations over the past time; specific solutions that have been, are being, and will be implemented to maintain deposit interest rate stability and further reduce lending rates in the future; and recommendations and commitments to effectively implement the Government and SBV’s policy of reducing interest rates.
– 20:55 04/08/2025
The Resilient Vietnamese Economy: A Stable Foundation for a Promising Future
“Vietnam’s macroeconomic stability and agility in a volatile global economic environment have been applauded by prominent organizations such as the World Bank, the Asian Development Bank, and Standard Chartered. Their recognition underscores the country’s robust foundation and adaptive capabilities, fostering resilience and potential for growth amidst global uncertainties.”
Motivations for Achieving the 8% GDP Growth Target in 2025
The year 2025 is a pivotal “acceleration and breakthrough” period to achieve the goals set for the entire 2020-2025 term. Thus, the government aims to surpass an economic growth rate of 8% or 10% under favorable conditions to set the stage for double-digit growth in the subsequent phase.
The Border Province Aims for a Per Capita Income of $7,500
Last year, the province witnessed an impressive growth rate of over 9%.
The County with Many “Euro Villages” in Nghe An Receives $250 Million in Remittances, $15 Million This Tet Alone
In 2024, remittances exceeded $2 million, a significant increase from the previous year’s figures.
Bac Giang Approved for Six New Industrial Parks in 2024
In 2024, Bac Giang province witnessed the expansion and establishment of six new industrial parks (IPs), the highest number ever.
