The State Bank of Vietnam has issued an action plan for the banking sector to implement Vietnam’s National Strategy on waste prevention and control through 2035. Adopted via Decision 2860/QD-NHNN, the plan assigns specific responsibilities to SBV units, credit institutions, financial institutions and SBV-managed enterprises, with the overarching aim of curbing waste and improving the efficiency of financial resources and assets used in monetary policy operations and banking-sector activities. The plan sets objectives that include streamlining organisational structures, strengthening the quality and accountability of leadership and staff, reducing administrative procedures in banking, and accelerating the use of new technologies and digital transformation to improve the quality and competitiveness of products and services. It also outlines 10 major task groups, covering: tightening internal standards and norms to reduce waste; enforcing savings in budgeting and the use of public assets, including conferences, hospitality and travel; modernising public-asset management and addressing real estate subject to rearrangement; improving governance and delivery of SBV public investment and construction projects, including disbursement accountability; enhancing management of state capital and assets in SBV-supervised enterprises and addressing inefficient projects; cutting compliance costs for citizens and businesses, linked to ongoing digital initiatives; advancing the restructuring of credit institutions for 2021–2025 alongside non-performing loan resolution, with a focus on weak commercial banks and preventing the emergence of new weak banks; and strengthening inspection, supervision and enforcement, including referrals to investigative authorities where criminal signs are identified.
State Bank of Vietnam 2025-07-23
State Bank of Vietnam issues banking-sector action plan to implement national strategy on waste prevention and control through 2035
The State Bank of Vietnam's action plan under Decision 2860/QD-NHNN aims to implement the National Strategy on waste prevention and control through 2035. It assigns responsibilities to banking entities to enhance resource efficiency and outlines objectives like streamlining structures, reducing administrative procedures, and accelerating digital transformation. The plan includes 10 task groups focusing on waste reduction, governance improvement, and restructuring credit institutions, emphasizing addressing non-performing loans and enhancing supervision.