State Bank of Vietnam issues banking-sector action plan to implement national agenda for private sector development

The State Bank of Vietnam has issued an action plan for the banking sector to implement the Government’s programme for developing the private economy, as set out in Government Resolution 138/NQ-CP implementing Politburo Resolution 68-NQ/TW. The plan is intended to ensure banking-sector measures are applied fully and consistently, while assigning concrete responsibilities for implementation, monitoring and evaluation across the system. Key measures include internal dissemination of the resolutions to all staff and a sustained communications programme, including thematic workshops, with an emphasis on monetary policy, credit and banking services that support private sector development and on equal and fair treatment of private businesses. The plan also calls for stronger public communications and prohibits the dissemination of inaccurate information that could affect businesses and entrepreneurs, the publication on the State Bank of Vietnam’s channels of early-warning guidance to help enterprises and household businesses avoid legal violations using integrated regulatory data, and the creation of a dedicated online channel to receive and address feedback and petitions. Alongside communications measures, it outlines priorities to improve the policy and regulatory framework, facilitate private-sector access to resources including capital, promote science and technology, innovation and digital transformation, and provide more practical support for small and micro enterprises and household businesses.