Continue to play a good role in participating in policy making

The 5th Annual Conference, Term VII of the Vietnam Banking Association was held to summarize and evaluate the results after one year of implementing tasks, and at the same time set out tasks for 2025.

Speaking at the opening of the Conference, Chairman of the Council of Vietnam Banks Association Pham Toan Vuong shared that 2024 has passed with many opportunities and challenges for banking activities in general and the Vietnam Banks Association in particular.

Following the direction of the Government, the tasks of the industry and the Association, the Association has actively organized and implemented the Resolutions, plans, and work programs set out, comprehensively implemented and actively contributed to the overall success of the industry on all 12 key tasks approved by the Vietnam Banking Association in Resolution No. 260 dated May 22, 2024, the 4th Annual Conference, 7th term.

Chairman of the Council of Vietnam Banks Association Pham Toan Vuong delivered the opening speech at the 5th Annual Conference, Term VII.

Specifically, the Association has contributed to the development of 90 policy mechanisms, contributing to the completion of the legal framework, creating favorable conditions for banking activities; strengthening and promoting the role of a bridge between member organizations and state management agencies, protecting the legitimate rights and interests of member organizations.

At the same time, actively and synchronously deploy communication work; pay attention and focus on membership work; be proactive and flexible in training and coaching bank staff.

Other areas of work such as international cooperation, implementation of the Code of Professional Ethics; internal work... are given attention and focus.

"The above results were achieved thanks to the active and responsible contributions of member organizations, the leadership and direction of the Association Council, and the high sense of responsibility of the Standing Agency and affiliated units.

In addition, the Banking Association regularly receives attention, leadership and direction from the Party Executive Committee, the State Bank of Vietnam's Board of Directors, the Ministry of Home Affairs as well as the coordination of relevant ministries, branches and units. The Association's activities in recent times have helped enhance the role and position of the Banking Association, thereby receiving the trust and support of all levels, branches and member organizations," affirmed Chairman of the Association's Council Pham Toan Vuong.

According to the Chairman of the Council of Vietnam Banking Association, the world situation in 2025 is forecast to continue to be complicated and unpredictable; the domestic economy continues to suffer "double negative impacts" from unfavorable external factors and internal limitations and shortcomings; opportunities, advantages and difficulties, challenges are intertwined but difficulties and challenges may be more.

“That context requires the banking industry in general and the Banking Association in particular to proactively adapt, strongly innovate, improve operational efficiency and accompany management agencies in implementing major policies on institutional reform and perfecting the legal system,” noted Chairman of the Association Council Pham Toan Vuong.

Deputy Governor of the State Bank Pham Tien Dung gave a speech at the Conference.

On behalf of the Board of Directors of the State Bank of Vietnam, Deputy Governor of the State Bank of Vietnam Pham Tien Dung acknowledged and highly appreciated the achievements of the Vietnam Banks Association in 2024 and the orientation and operational plan for 2025 of the Vietnam Banks Association.

“These contents show the determination of the Vietnam Banking Association in protecting the legitimate rights and interests of member organizations, clearly reflecting the important role of the Association in accompanying the banking system,” Deputy Governor Pham Tien Dung stated.

In addition, the Deputy Governor also emphasized the results that the Association has achieved in recent times when the Association has accompanied management agencies to develop legal documents.

“The contributions of the Banking Association are of practical value and have been acknowledged by management agencies, who have revised and supplemented policies to better suit reality. In some European countries with developed banking and finance, law and human resources are aspects that they pay great attention to and focus on. The Banking Association has been making very positive contributions in both of these aspects,” said Mr. Pham Tien Dung.

In addition, the Banking Association has always been very determined, words always go hand in hand with actions. Not only does it play a good role in accompanying the management agency in the process of building policies and legal documents, the Banking Association also creates trust for the management agency in the process of issuing documents related to the industry's activities.

“For example, to achieve great success in issuing on time and effectively implementing Decision 2345/QD-NHNN on implementing safety and security solutions in online payments and bank card payments (effective from July 1, 2024), the Banking Association plays a great role.

If the Banking Association had not been determined, Decision 2345/QD-NHNN on implementing safety and security solutions in online payments and bank card payments might not have been issued on July 1, 2024, and the implementation of biometrics across the entire banking system might not have achieved the current success," Deputy Governor Pham Tien Dung acknowledged.

Regarding the orientation of activities in the coming time, Deputy Governor Pham Tien Dung also requested the Vietnam Banking Association and its member organizations to promote the results achieved in 2024 to build the 2025 action program. In particular, continue to play a good role in participating in policy making.

"In the coming time, there are many policies being finalized that will impact the operations of the banking industry such as: Law on Personal Data Protection, some decrees guiding the Law on Electronic Transactions, Resolution on virtual currency exchanges, Financial Centers, etc. These are all new and difficult issues that require the accompaniment and active contribution of the Banking Association in accompanying the management agency and member organizations," Deputy Governor Pham Tien Dung added.

As of December 31, 2024, the Vietnam Banks Association has a total of 76 member organizations, including: 63 official members, 11 associate members and two honorary members, of which in 2024, it held a membership admission ceremony for two foreign bank branches (MUFG and ICBC) as associate members; contacted, exchanged information and guided 5 foreign banks and bank branches (HSBC, SMBC, WorriBank, Siam Commercial Bank and Bank of India) on membership procedures.

The scale and quality of operations of member organizations are also increasing, occupying key market shares in the currency and credit markets, and managing huge amounts of assets.

Source: https://nhandan.vn/tiep-tuc-lam-tot-vai-tro-tham-gia-xay-dung-chinh-sach-post868111.html