The State Bank of Vietnam received a delegation from the Central Bank of Timor-Leste and members of the Timor-Leste Parliament to exchange experience on the central bank’s role in supporting small and medium-sized enterprises (SMEs) and Vietnam’s implementation of digital transformation in banking, alongside broader discussions on macroeconomic conditions, monetary policy and banking operations. Deputy Governor Nguyen Ngoc Canh highlighted Vietnam’s 2024 macro outcomes, including gross domestic product growth of 7.09% and consumer price index inflation of 3.63%, and outlined government policies to develop SMEs under the 2017 Law on Support for SMEs, as well as State Bank of Vietnam guidance and policies intended to facilitate SME access to credit. Presentations from relevant departments covered SME credit support and payments-sector digitisation, including that many Vietnamese credit institutions have more than 90% of transactions conducted through digital channels. Timor-Leste’s central bank governor, Helder Lopes, signalled interest in practical approaches to expand SME access to finance and in cooperation on digital payments and bilateral payment connectivity as Timor-Leste prepares for ASEAN accession. Both sides expressed an intention to maintain close engagement and strengthen bilateral central bank cooperation, with Vietnam indicating continued support for Timor-Leste’s capacity-building and participation in future ASEAN banking cooperation.

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