Ho Chi Minh City appeals for interest rate cuts

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Nhân dân English - 34 month(s) ago 4 readings

Ho Chi Minh City appeals for interest rate cuts

Deputy Vu Van Ninh working with the Ho Chi Minh authorities to find solutions for economic difficulties.

This request was made at a working session between Deputy Prime Minister Vu Van Ninh and the Ho Chi Minh City People’s Committee on solutions to current economic problems.

The municipal authorities said that lowering lending rates will help local enterprises overcome financial difficulties and boost production.

The city also asked the State Bank of Vietnam (SBV) to step up their efforts to tackle bad debts of commercial banks in order to enhance capital flows in the economy and minimise risks in the banking system.

The Ho Chi Minh City authorities also suggested that the Government amend regulations on licensing investment projects to make the city more attractive to foreign investors.

Speaking at the session, Deputy PM Ninh praised the achievements recorded by Ho Chi Minh City in the first quarter of 2012 and ordered the relevant ministries and agencies to carefully consider the practical suggestions put forward by the city.

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