Prime Minister Pham Minh Chinh addresses the conference (Photo: VNA)

Hanoi – Prime Minister Pham Minh Chinh on December 7 chaired a conference to seek measures to remove difficulties in credit for production and business activities, aiming to promote growth and macro-economic stability.

The event drew leaders of ministries and sectors, as well as heads of 38 commercial banks, and representatives from the Vietnam Banks Association.

Opening the conference, PM Chinh underlined that belonging to the same economic ecosystem, the development of banks and businesses is closely related to each other as well as to the growth of the whole economy.

As Vietnam is building a socialist-oriented market economy, the country aims to reduce the use of administrative tools and increase market tools to operate the market, he said.

The Government leader asked participants to contribute ideas so as to overcome current difficulties for the common development with the motto of “harmonised interest, shared risks”.

According to the State Bank of Vietnam, as of November 30, credit provided to the economy had reached 13 quadrillion VND (535.49 billion USD), up 9.15 per cent over the end of 2022. Of the total, outstanding loans in the agro-forestry-fisheries sector was about 918.6 trillion VND, while that in the industry-construction sector reached more than 3.32 quadrillion VND, an increase of 7.31 per cent, and the service industry nearly 8.6 quadrillion VND, a rise of 7.9 per cent.