The State Bank of Vietnam updated on the banking sector’s international integration and cooperation work as Deputy Governor Nguyen Ngoc Canh attended a Prime Minister-chaired National Steering Committee meeting on International Integration and a conference reviewing implementation of high-level foreign relations commitments and agreements for the 2021-2025 term. The sessions reviewed progress and set priorities for the coming period, with the monetary and banking sector framed as a key pillar of international economic integration. Across the discussions, the focus was on strengthening institutions and policies, improving the quality of implementing international commitments, and linking economic integration with other fields while maintaining independence and safeguarding national interests. The banking sector’s cooperation priorities were described as modernising payment systems, promoting cross-border payment connectivity, digital transformation, green and sustainable finance, and financial inclusion, alongside market-opening commitments aligned with monetary policy administration, macroeconomic stability, and system safety. From 2021 to now, the State Bank of Vietnam has signed 11 ministerial memorandums of understanding with foreign central banks, most recently a 2026-2030 cooperation memorandum with the Lao People’s Democratic Republic aimed at better coordination to support trade and investment, promote local-currency use in payments, and enhance bilateral financial and banking cooperation, building on existing local-currency settlement results to reduce reliance on third currencies. The conference also flagged implementation shortcomings such as uneven progress across fields and challenges in coordination, monitoring and evaluation, and called for clearer focal points, responsibilities, roadmaps and stronger oversight. For the monetary and banking sector, the stated direction was to continue implementing signed agreements and to study and propose signing, adjusting or extending cooperation agreements in line with practical needs.
State Bank of Vietnam 2026-01-14
State Bank of Vietnam highlights international banking cooperation including 11 central bank MOUs at national integration review
The State Bank of Vietnam emphasized international integration, focusing on modernizing payment systems, digital transformation, and financial inclusion while maintaining macroeconomic stability. Recent efforts include signing 11 memorandums with foreign central banks, including a 2026-2030 agreement with Laos, to enhance trade, investment, and local-currency use, despite coordination challenges.