8 key tasks of the banking industry

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On January 15, 2024, the State Bank of Vietnam issued Directive No. 01/CT-NHNN on organizing and implementing key tasks of the banking industry in 2024. According to the content of the Directive, the State Bank determines the general goals and tasks of the banking industry in 2024 specifically as follows:

8 key tasks of the banking industry
8 key tasks of the banking industry

1: Operate monetary policy proactively, flexibly, promptly, effectively, coordinate synchronously, harmoniously, and closely with fiscal policy and other macroeconomic policies, contributing to supporting the promotion of economic growth, macroeconomic stability, controlling inflation target in 2024 at an average of about 4-4.5%, stabilizing the currency market, foreign exchange and banking system.

2: Manage credit in harmony with macroeconomic developments to contribute to promoting economic growth, controlling inflation, stabilizing the macroeconomy, and ensuring the operational safety of credit institutions.

3: Drastically and effectively deploy the Project "Restructuring the system of credit institutions associated with handling bad debts in the period 2021-2025", contributing to the development of a system of healthy credit institutions , quality, efficiency, openness, transparency in accordance with the law and asymptotically meeting international standards and practices.

4: Focus on researching, editing and perfecting mechanisms, policies and regulations on organization and banking inspection and supervision activities; Strengthen innovation, improve the effectiveness and efficiency of inspection, examination and supervision of the banking industry.

5: Effectively implement the Banking sector's digital transformation plan to 2025, with a vision to 2030; Project to develop non-cash payments in Vietnam for the period 2021-2025; Strategy for developing information technology in the banking industry until 2025, with a vision to 2030.

6: Strengthen discipline and market discipline in complying with the operating instructions of the Government, the Prime Minister, the Governor of the State Bank and regulations in banking operations.

7: Strongly reform regulations and administrative procedures, improve the business investment environment, create favorable conditions for people and businesses. Improve the quality of cadres, civil servants, public employees, and workers, ensure discipline and administrative discipline.

8: Continue to deploy and effectively monitor the implementation of the Vietnam Banking Industry Development Strategy to 2025, with a vision to 2030; National comprehensive financial strategy to 2025, orientation to 2030 and promulgated Programs, Plans and Projects.


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