 Prime Minister Nguyen Xuan Phuc speaks at the conference on January 2nd, 2020, in Hanoi. Photo: Quang Hieu/VGP |
At a national online conference in Hanoi on Thursday to set out the tasks for the banking sector in 2020, Prime Minister Nguyen Xuan Phuc hailed the Bank for its successful implementation of monetary and other policies, especially its efforts to raise the foreign reserve to a record of 80 billion USD, 2.5 times higher than the beginning of this tenure. He asked the SBV to create favorable conditions for the safe and healthy development of commercial banks and credit organizations, and improve banking services to ensure access to credit services for all businesses and people. Mr. Phuc said: "We need to improve our response to any international and regional changes. Strategic research divisions of major commercial banks and the State Bank of Vietnam are required to put forth more effort in this task. It’s important to increase coordination among the banking sector and relevant ministries and agencies. Meetings between those bodies should be carried out frequently to prepare recommendations for the government on a monthly basis."
Prime Minister Phuc also asked the banking sector to make full use of modern technology and the achievements of the 4th industrial revolution, while pushing the transition toward a digitized State Bank of Vietnam and e-commerce banks.