At the State Bank of Vietnam’s first Party Congress for the 2025–2030 term, Deputy Prime Minister Ho Duc Phoc reviewed the central bank’s 2020–2025 performance and set out a seven-point agenda for the coming period, covering monetary policy, legal reforms, supervision and payments modernisation. The speech also flagged challenges including inflation management risks, the economy’s reliance on traditional bank credit, and implementation difficulties in certain expected credit programmes such as social housing lending under Government Resolution 33 and interest-rate support for businesses. The update highlighted six reported achievements: strengthened Party and internal governance; progress in completing the monetary and banking policy and legal framework in line with international standards; proactive monetary policy management coordinated with fiscal policy, including interest rate and liquidity management; more targeted credit policies including debt repayment rescheduling during and after Covid-19 and following natural disasters, alongside policy lending and actions to curb illegal lending; enhanced banking inspection and supervision with earlier risk warning, including completion of the mandatory transfer of four banks under special control; and rapid growth in cashless payments and sector-wide digital transformation. The seven priorities for 2025–2030 include reinforcing the State Bank of Vietnam’s central role in monetary policy and inflation and exchange-rate stability; further aligning the legal framework with a central bank model and requirements of the digital, circular and green economy; strengthening supervision, anti-money laundering and responses to high-tech financial crime while pursuing restructuring and substantive non-performing loan resolution; accelerating secure cashless payments; streamlining the organisation and upgrading specialist human resources, including in information technology and forecasting; supporting international cooperation; and developing credit and foreign exchange policy measures to support sectors affected by US reciprocal tax measures, including traceability systems for supply-chain participation.
State Bank of Vietnam 2025-08-14
State Bank of Vietnam party congress receives Deputy Prime Minister’s seven-point agenda for 2025–2030
At the State Bank of Vietnam's first Party Congress for the 2025–2030 term, Deputy Prime Minister Ho Duc Phoc outlined a seven-point agenda focusing on monetary policy, legal reforms, and payments modernization. Achievements from 2020–2025 include strengthened governance, proactive monetary policy management, and enhanced banking supervision. Priorities for 2025–2030 emphasize inflation and exchange-rate stability, legal framework alignment, and secure cashless payments.