State Bank of Vietnam co-chairs ASEAN Senior Level Committee on Financial Integration meeting and endorses 2025 banking cooperation priorities

The State Bank of Vietnam reported that Deputy Governor Pham Thanh Ha co-chaired the 29th meeting of the ASEAN Senior Level Committee on Financial Integration (SLC) in Malaysia, alongside Bank Indonesia. The meeting brought together ASEAN central bank deputy governors and partner institutions to review regional financial integration work and approve the 2025 priorities for ASEAN banking cooperation working groups. Discussions covered the regional and global macroeconomic outlook, with the International Monetary Fund highlighting risks including trade policy uncertainty, geopolitical tensions and foreign exchange and reserve pressures, and recommending flexible monetary policy, fiscal discipline and close monitoring of financial sector risks. The ASEAN+3 Macroeconomic Research Office forecast ASEAN+3 growth above 4% in 2025-2026 and inflation of 1.7% in 2025, while also flagging external policy and geopolitical risks. State Bank of Vietnam representatives cited Vietnam’s estimated 2024 GDP growth of 7.09% and inflation of 3.5% to 4%, alongside external risks such as geopolitical tensions, supply chain disruptions and global monetary policy volatility. Working groups were welcomed for developing proposed strategic activities and new key performance indicators for 2026-2030, intended to align with the ASEAN Economic Community Strategic Plan 2026-2030 that members are preparing.