The State Bank of Vietnam published an update on Prime Minister Pham Minh Chinh’s visit to the central bank, setting out tasks for the banking sector in 2025 and summarising the State Bank of Vietnam’s reported 2024 results and 2025 operational direction. Priorities for 2025 included maintaining macroeconomic stability, controlling inflation and stabilising the monetary market, while reducing costs to help lower lending rates. The programme also emphasised directing credit to priority sectors and initiatives, including social housing and a programme to eliminate temporary and dilapidated housing, as well as support for strategic transport infrastructure, alongside continued work to address weak banks and control non-performing loans. The agenda further called for faster digital transformation, including implementation aligned with Project 06 and development of banking-sector databases, stronger policy communication, improvements to the legal framework to support equal treatment and operating space for households and businesses, and enhanced security and safety in payments and banking operations. The State Bank of Vietnam reported that in 2024 it kept policy rates unchanged despite high global interest rates, managed the exchange rate flexibly and sought to keep the premium of SJC gold bar prices versus global prices within an appropriate range. Credit to the economy increased by about 15.08% by 31 December 2024 versus end-2023, supported by programmes including a VND 145 trillion facility for social housing, worker housing and renovation and rebuilding of old apartment blocks, as well as credit for the forestry and fisheries sectors and measures to support customers affected by storm No. 3.

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