State bank asks to increase credit limits for key petroleum importers

On March 16, the State Bank of Vietnam (SBV) said that the Governor of the State Bank of Vietnam has requested commercial banks to proactively balance capital sources, consider creating conditions for increasing credit limits for key petroleum trading enterprises in the Ministry of Industry and Trade’s list published on the Ministry’s website, especially those assigned to increase petroleum import volume.

This move aims to help these special enterprises promptly import petroleum according to the quota, ensuring supply for the domestic market.

The review and decision to grant credit and increase credit limit for the above-mentioned petroleum trading enterprises shall comply with the current credit mechanism. If commercial banks bump any problem during the implementation process, they shall report them to the Governor of the State Bank for consideration and assistance.

Chairpersons of the Board of Directors/General Director of commercial banks should take heed of timely response to the credit capital needs of qualified petroleum trading enterprises as well as punish irresponsible violators.