Governor of the State Bank of Viet Nam (SBV) Pham Duc An has called on commercial banks to cut lending rates selectively, prioritising production, business activities and sectors encouraged by the Government, while ensuring banking system safety.

The Prime Minister has approved a plan to continue modernising the banking system, address weak credit institutions and improve access to capital for businesses, particularly small and medium-sized enterprises (SMEs).

In the context of a global economy facing many unpredictable variables, establishing a breakthrough growth roadmap for Viet Nam is not only an aspiration but also an urgent requirement to successfully implement the Resolution of the 14th National Congress of the Party.

Amid a rising wave of high-tech crime, the banking sector is rolling out comprehensive measures ranging from legal reforms and data cleansing to centralised risk monitoring systems, with the aim to enhance transaction security and build a protective shield for customers’ accounts in the digital environment.