The State Bank of Vietnam (SBV) briefed the US-ASEAN Business Council (US-ABC) on its near-term monetary policy direction and banking-sector priorities during a working meeting led by Deputy Governor Nguyen Ngoc Canh. Discussions covered how US firms could contribute to Vietnam’s banking sector and the development of a regional and international financial centre, alongside issues raised by US businesses such as cashless payments, secure data management and the transfer of financial information, credit limits, credit ratings, stock-based compensation, and green finance. Deputy Governor Canh linked policy priorities to Vietnam’s 2025 economic plan, which targets GDP growth of at least 8%. SBV will continue to run monetary policy in a proactive, flexible and coordinated manner with fiscal and other policies to support growth while maintaining macroeconomic stability, controlling inflation and safeguarding key economic balances. For 2025, SBV will closely monitor conditions to manage banking system credit growth in a way that supports credit supply to the economy while maintaining the safety of credit institutions. On the financial centre agenda, SBV is reviewing and benchmarking international experience to identify special banking policies aimed at improving the business environment for international financial institutions and investors, and it highlighted ongoing efforts to strengthen the legal framework and infrastructure for non-cash payments and banking digitalisation, alongside system safety, fraud prevention and greater use of credit ratings to support transparency and risk management. US-ABC, led by Ted Osius and representing around 60 large US companies, voiced support for Vietnam’s financial centre initiative and the role of US businesses in attracting global capital and providing financial services. SBV indicated it expects continued policy dialogue and closer information exchange with US-ABC to support implementation of relevant policies and activities.

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