State Bank of Vietnam officials promote savings as a pillar of digital-era financial inclusion at Hanoi roundtable

The State Bank of Vietnam took part in a Banking Times roundtable in Hanoi on “Saving as internal strength in the digital era”, with Deputy Governor Pham Thanh Ha and other speakers framing saving as a support for household financial buffers, financial-system stability and Vietnam’s digital transformation, alongside the push to broaden access to formal finance. Chu Khanh Lan, Deputy Director General of the Forecasting, Statistics and Monetary Stability Department, linked Vietnam’s average GDP growth of around 6.5% over the past 30 years with a savings-to-GDP ratio of 29% and an investment-to-GDP ratio of around 30%, emphasising the need to raise the efficiency of investment funded by savings. He reiterated that the 2020 National Financial Inclusion Strategy treats saving as one of five pillars and sets a 2025 goal of 25–30% of adults holding savings at credit institutions. The discussion cited 87% of adults having a bank account, 33% holding savings deposits at credit institutions and more than 86% expressing trust in the formal financial system, alongside an expanded delivery network including over 10,800 commune cultural post offices, 3,000 commune-level transaction points, 81 internet payment organisations and 51 mobile payment providers. Speakers also highlighted the shift toward digital savings features, micro-savings for low-income and vulnerable groups, and financial education initiatives, including training delivered to more than 80,000 TYM customers and relatives on digital usage and online fraud risks.