Addressing the sector’s 9th National Patriotic Emulation Congress for 2025–2030, held in Hanoi on November 24 alongside the five-year review of the National Strategy on Gender Equality, and the “Excellence at Work and at Home” movement for the 2020 - 2025 period, PM Chinh praised banks for bolstering macroeconomic stability, curbing inflation, safeguarding the system and supporting businesses and households.

Reviewing the sector’s past performance, he praised progress in institutional reform, more flexible and proactive monetary policymaking, and macroeconomic stability. The sector has also emerged as a pioneer in digital transformation, alongside organisational restructuring and successful emulation drives that delivered concrete outcomes.

He ordered emulation efforts to align tightly with each unit’s political tasks and advance its operational goals, with banks directed to lower operating costs and borrowing rates to spur production and trade, all while ensuring major economic balances and keeping inflation in check.

The leader called for accelerated digital transformation, greater use of sci-tech, operational standardisation to international practices and tighter controls to ensure targeted, effective credit growth.

With Vietnam’s high investment needs far outstripping banking capacity alone, he stressed the urgent expansion of capital markets, especially bonds and securities, together with strict fiscal discipline and faster public investment disbursement.

Given the current economic context, he said the banking sector must give top priority to macroeconomic stability and inflation control, build economic resilience, and enable rapid and sustainable growth.

Earlier at the congress, Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong reported that between 2020 and 2025, more than 64,000 banking collectives and individuals have been honoured by the Party, State and Government with noble distinctions, including the Labour Hero and national Emulation Fighter titles, Independence Orders, Labour Orders, the national Emulation Fighter title, the Government and State Bank emulation flags, and tens of thousands of certificates of merit, insignia and others.

On the occasion, PM Chinh bestowed the first-class Labour Order on the SBV. Former Deputy Governor Dao Minh Tu was awarded the second-class Independence Order; Governor Hong and Deputy Governor Pham Thanh Ha received first-class Labour Orders; Deputy Governors Doan Thai Son and Pham Tien Dung were named national Emulation Fighters; and Deputy Governor Pham Quang Dung earned a certificate of merit from the PM.

Also at the event, the SBV Governor launched the sector-wide emulation movement for the 2026–2030 period.

In a show of support for storm-hit localities, the SBV donated VND150 billion (US$5.76 million) in its staff contributions to central and Central Highlands communities, in response to the Vietnam Fatherland Front Central Committee’s appeal.

PM urges banking sector to drive digital transformation

Prime Minister Pham Minh Chinh has called on the banking sector to spearhead a digital transformation, fostering seamless connections among banks, people, businesses, and the state to advance a vision of a digital government, society, and citizenship.