At a conference in Ho Chi Minh City with representatives of foreign banks, joint venture banks and foreign bank branches operating in Vietnam, State Bank of Vietnam Standing Deputy Governor Dao Minh Tu, in his capacity as President of the Vietnam Banking Union, called on these institutions to form trade union organisations and have employees join the Vietnam Trade Union framework. Foreign credit institutions flagged that a key practical obstacle is the need to obtain approval from parent or regional banks abroad, alongside differences in trade union laws across jurisdictions. Tu noted that most employees at foreign credit institutions in Vietnam are Vietnamese and work under Vietnam’s constitution and laws, and he asked senior staff at these institutions to advise parent and regional management to permit trade union establishment and employee participation. He also indicated that where dedicated union staffing cannot be increased, institutions could use part-time staff with concurrent union responsibilities, with unions positioned as supporting labour rights and participating in labour, wage and income arrangements.
State Bank of Vietnam 2025-02-18
State Bank of Vietnam deputy governor urges foreign banks to establish trade union organisations and join the Vietnam Trade Union
State Bank of Vietnam Deputy Governor Dao Minh Tu urged foreign banks in Vietnam to form trade unions and integrate employees into the Vietnam Trade Union framework. Foreign institutions cited challenges like obtaining parent bank approval and differing trade union laws. Tu noted most employees are Vietnamese and suggested using part-time staff for union roles to support labor rights and wage arrangements.