State Bank of Vietnam receives Government Party Committee inspection conclusions and is urged to address identified limitations

The State Bank of Vietnam held a conference to announce the results of an inspection by the Government Party Committee’s inspection delegation into the Standing Board of the State Bank of Vietnam Party Committee. The inspection conclusions covered five priority areas and found broad alignment and effective implementation, while also pointing to limitations that should be addressed. The conclusions highlighted the Party committee’s role in leading both banking-sector political tasks and party-building work, noting the scale and complexity of responsibilities following its establishment. In remarks at the conference, Governor Nguyen Thi Hong cited operational challenges including the organisational restructuring of the central bank’s local network from 63 provincial branches to 15 regional branches, requiring synchronized changes to information and management systems within a short timeframe without disrupting credit institutions or the public. The inspection head, Doan Hong Phong, credited the State Bank of Vietnam’s flexible credit management with supporting macroeconomic stability and contributing to economic growth of over 7% in the first half of the year, and noted the banking sector’s progress in digital transformation while calling for solutions to the shortcomings identified. The inspection delegation was asked to incorporate feedback from the Standing Board of the State Bank of Vietnam Party Committee to complete the inspection report.