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Banking system on the right track: workshop
A workshop on May 13 affirmed that orientations for economic development and the banking system are on the right track and commensurate with the market economy’s development regulations.
With a theme “Vietnam’s banking system and WTO commitments: assessment and prospects”, the Hanoi workshop said that after more than one year of joining the World Trade Organisation (WTO), strong renovation is being seen in the country’s banking system.
According to the workshop’s assessment, the State Bank of Vietnam has constantly improved its legal framework for banking activities by issuing many adjusted legal documents on the issue. Mechanisms and policies on banking activities have become more and more complete in conformity with international regulations.
In the meantime, the management of monetary policies has been renovated in accordance with market principles together with the development of indirect tools to manage these policies.
In addition, interest rate policies and exchange rates have been adjusted to conform with market mechanisms.
The nation’s commercial banks have been developed in both scale and service quality.
Although affected by unexpected changes of the international financial market, the country’s banking system maintained its healthy development to contribute to national economic achievements, affirmed the participants.
VNA
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