Vietnam’s Banking Sector Development over Three Decades of Economic Renovation: Achievements, Challenges, and Policy Solutions
Vietnam’s Banking Sector Development over Three Decades of Economic Renovation: Achievements, Challenges, and Policy Solutions

Summary/Abstract: Over the three decades of economic renovation, Vietnam banking sector has been reformed in market-oriented directions and in compliance with international financial standards. The context of deeper financial integration requires a more efficient, resilient and competitive banking sector in the country. For this purposes, in the years to come, the following regulatory measures should be taken into consideration: (1) strengthening the autonomy and capability for the SBV; (2) continuing process of financial restructuring and liberalization to further improve the competitive market behavior; (3) promoting prudent risk management and supervision; (4) cooperating proactively, actively with other countries to cope with common financial risks at regional level; and (5) building a more concrete framework and appropriate roadmap to improve the convertibility of the national currency (Vietnam Dong).

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