The State Bank of Vietnam has issued a banking sector action plan to implement the Government’s programme for National Assembly measures on special mechanisms and policies to develop the private sector. The plan sets out tasks for State Bank units and the banking system focused on reducing administrative burdens, reforming inspection and supervision practices, and mobilising finance and credit support for private businesses. By 31 December 2025, the State Bank plans to review and remove unnecessary business conditions and overlapping or unsuitable requirements, and to cut at least 30% of administrative processing time, legal compliance costs, and business conditions affecting the banking sector, with further reductions to continue in subsequent years. The plan also calls for extensive use of digital transformation to minimise processing time and compliance costs and to enable banking services for enterprises and business households regardless of administrative boundaries. For inspections, it sets a risk-based approach and seeks to end overlapping and prolonged checks, limiting inspections of enterprises, business households and individual businesses, including joint inspections, to no more than once per year except for ad hoc cases with clear signs of violations, and avoiding both an inspection and an audit on the same matter within the same year absent clear violation indicators. On financial support, the State Bank will submit to the Government a proposal for an implementing guidance document on a 2% per year interest rate subsidy delivered through commercial banks for private sector enterprises and business borrowers financing green and circular projects and applying environmental, social and governance standards. State Bank units, credit institutions and foreign bank branches are tasked with disseminating and implementing the plan and meeting the stated timelines.

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