The State Bank of Vietnam has published a review of its 2020–2025 performance and set priorities for the 2025–2030 period, focusing on running monetary policy flexibly and in close coordination with fiscal policy to support growth while controlling inflation, alongside continued institutional reform, system restructuring and banking-sector digital transformation. Over the 2020–2025 term, the central bank reports completing five assigned programmes and issuing or submitting 208 legal instruments, including the 2022 Anti-Money Laundering Law, the 2024 Law on Credit Institutions and a 2025 amendment to the Law on Credit Institutions. It highlights measures to stabilise and reduce interest rates, maintain orderly foreign exchange markets and build foreign exchange reserves, and notes that from 2024 it allocated full-year credit growth targets to credit institutions while pursuing a roadmap to restrict and ultimately abolish institution-by-institution credit target allocation. The update also points to more risk-focused inspection and supervision, implementation of the 2021–2025 restructuring and non-performing loan plan, and progress on cashless payments and digitisation, including more than 87% of Vietnamese adults having a bank account and many credit institutions executing over 95% of transactions via digital channels. For 2025–2030, the agenda includes further streamlining of organisational structures, continued work on banking legislation and its implementation, and policy development for foreign exchange operations and money market development in financial centres under direction of competent authorities. Priorities also include handling weak credit institutions and restructuring commercial banks under special control, accelerating non-performing loan resolution, strengthening the legal framework for electronic and non-cash payments including cross-border and new payment technologies, and expanding the national credit information database and connectivity with other national databases. The plan identifies three strategic breakthroughs for the term: institutional reform to remove bottlenecks in the monetary, credit and banking framework; science, technology and innovation including technology application in green credit; and workforce development and organisational capability.
State Bank of Vietnam 2025-08-13
State Bank of Vietnam sets a 2025–2030 agenda centred on flexible monetary policy, legal reform and restructuring weak credit institutions
The State Bank of Vietnam reviewed its 2020–2025 performance and set 2025–2030 priorities, emphasizing flexible monetary policy coordination with fiscal policy, institutional reform, and digital transformation. Achievements include legal reforms, interest rate stabilization, and progress in cashless payments. Future priorities focus on banking legislation, foreign exchange policy, non-performing loan resolution, and expanding the national credit information database.