On September 10, 2020 in Hanoi, the Banking Strategy Institute under the State Bank of Vietnam (SBV) organized a Seminar on the Banking Sector’s Action Plan to implement the National Financial Inclusion Strategy until 2025, Vision to 2030. The Seminar was held in virtual format with the broadcast points in Ho Chi Minh City and the SBV provincial branches. Also attending the Seminar were Deputy Governor Nguyen Kim Anh and representatives from the SBV entities and the credit institutions.
Speaking at the seminar, Deputy Governor Nguyen Kim Anh requested all SBV entities, credit institutions, payment intermediary service providers and micro-finance institutions to be fully aware of the objectives, tasks and solutions in the National Financial Inclusion Strategy until 2025, Vision to 2030, and the Action Plan of the Banking Sector to implement the Strategy. On that basis, the SBV has requested all those entities to develop their own plans to implement the specific tasks assigned in the Banking Sector’s Action Plan, in line with the requirements and set out roadmap.
Moreover, the SBV Deputy Governor also requested all those entities to integrate relevant substances of the National Financial Inclusion Strategy and the Banking Sector’s Action Plan into their own development strategies and plans in order to implement the Strategy and the Action Plan effectively; conduct regular self-evaluations and self-reviews of the results and the possibilities of accomplishing the assigned tasks, thereby developing appropriate solutions to ensure that all set out objectives are achieved.
At the Seminar, a representative of the Banking Strategy Institute presented on the contents of the Strategy and the Action Plan. After that, representatives from the Payment Department, the Banking Supervision Agency, the Department of Credit for Economic sectors, the SBV branch in Ho Chi Minh City and several credit institutions also presented their discussion notes on the achieved results and orientations to accelerate financial inclusion in Vietnam in the coming time.
Ms. Nguyen Thi Hoa, Director of the Banking Strategy Institute, presents on the contents of the Strategy and the Action Plan
Representatives of the SBV departments and several credit institutions present their discussion notes
Previously, on March 30, 2020, Her Majesty Queen Máxima of the Netherlands sent a letter to the SBV mentioning her high evaluation for the efforts on financial inclusion in Vietnam. Queen Máxima wrote that Vietnam’s determination, which is reflected in the National Financial Inclusion Strategy, would be the foundation for the success of this Strategy. The Queen also expressed her full support to Vietnam in order to achieve the set out objectives.
In Vietnam, over the recent years, the Socio-Economic Development Strategies, the Sustainable Development Strategy for the 2011-2020 period, the National Action Plan to implement Agenda 2030 for Sustainable Development, etc. all show that one of the top priority goals of the Government of Vietnam is to raise the people’s income and living standards, emphasizing on creating equal opportunities for the people in accessing resources for development and benefiting from fundamental services.
On January 22, 2020, Decision No. 149/QD-TTg approving the National Financial Inclusion Strategy until 2025, Vision to 2030 was signed by the Prime Minister. This was an important milestone for Vietnam’s banking sector and has brought about extensive and in-depth influences on the socio-economic life of the country. As the lead agency responsible for formulating the Strategy, and the support agency of the National Steering Committee on Financial Inclusion, the SBV Board of Management has identified that this is a critical assignment, especially in the context of many difficulties and challenges. On July 24, 2020, the SBV Governor signed Decision No. 1309/QD-NHNN on the issuance of the Banking Sector’s Action Plan to implement the National Financial Inclusion Strategy. This Action Plan is the foundation for the SBV entities and the credit institutions to formulate their specific strategies, programs and action plans. In addition, this Action Plan is also the ground for inspections, supervision, reviews, assessments, evaluations and lessons learnt from the implementation of the Strategy in each period; and for the recommendations, suggestions for new objectives, targets, tasks and solutions in the next period.
Le Hang