Authorities urged to ensure effective, transparent lending rate cuts
Vietnam faces a major challenge in achieving fourth-quarter growth of more than 12.5 percent, the Government said on November 4.
The Government of Vietnam has highlighted the need for effective and transparent lending rate cuts to support the country's ambitious economic growth targets for the fourth quarter of the year. In a press briefing held on November 4, Government Office Chairman Dang Xuan Phong emphasized the government's commitment to containing inflation, maintaining macroeconomic stability, and safeguarding major economic balances.
Notable achievements in the first ten months of the year include a trade surplus exceeding US$7.31 billion and the disbursement of VND708.57 trillion (US$26.8 billion) in public investments, which accounts for 75.4 percent of the annual target. However, challenges such as high consumer price index growth and lagging public investment disbursement in several ministries, agencies, and localities remain.
Prime Minister Le Minh Hung called for authorities to ensure that lending rate reductions for production, business activities, and priority sectors are implemented efficiently.
Brief written by urgent.news from SGGP English Edition's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
