Vietnam PM tells central bank to remove cap on credit growth from 2026
FILE PHOTO: Vietnamese Prime Minister Pham Minh Chinh waits for Chinese President Xi Jinping to arrive before his departure, following his visit to Hanoi at Noi Bai International Airport in Vietnam, April 15, 2025. REUTERS/Athit Perawongmetha/Pool/ File Photo
HANOI :Vietnamese Prime Minister Pham Minh Chinh has told the country's central bank to remove a cap on credit growth in the banking system from next year, the government said on Thursday.
The central bank should, instead, develop a set of standards for banks to operate in an "efficient and healthy" manner, the government said in a statement.
The State Bank of Vietnam has set an annual cap on credit growth in the banking system as a way to control the flow of money into the economy and maintain the system's stability. The cap for this year stands at 16 per cent.
