Hanoi (VNA) – The State Bank of Vietnam (SBV) has issued an action plan to implement the Politburo's Resolution No. 79-NQ/TW on developing the State-owned economic sector, aiming to improve the operational efficiency of State-owned enterprises (SOEs), modernise governance, and reinforce the strategic role of this sector in national development.
Issued under Decision No. 464/QD-NHNN, the action plan is intended to implement the Government's Resolution No. 29/NQ-CP, dated February 24, 2026, to realise the objectives of the Politburo's Resolution No. 79-NQ/TW, dated January 6, 2026.
It sets tasks for units of the SBV, State-run credit institutions, SOEs where the SBV acts as the owner representative, and subordinate non-business units of the central bank.
The plan aims to enhance the efficiency of the State-owned economic sector, enabling it to better play its leading, pioneering and strategic role in supporting Vietnam's economy in the new period.
Accordingly, the SBV requests a fundamental shift in the governance mindset, moving away from traditional administrative management towards a development-enabling approach characterised by modern governance, greater efficiency and more decisive implementation.
A key task under the plan is reviewing legal documents governing the banking sector to identify institutional bottlenecks and recommend amendments to competent authorities. The SBV demands the review respect the principle of clearly distinguishing the ownership role, economic management functions, and political and non-profit public service responsibilities from the commercial activities of State-owned economic organisations.
The plan also underlines the requirement for pushing ahead with administrative reform by simplifying procedures, reducing compliance costs and processing time for businesses and citizens, stepping up power decentralisation, and strengthening the autonomy of subordinate units. It calls for wider application of risk-based management principles, shifting regulatory oversight from pre-licensing to post-licensing inspection.
Human resources development is another major priority. The SBV stresses the need to improve the quality of leadership, management and professional staff within State-owned economic organisations. It asks for remuneration policies that are competitive and aligned with labour market conditions, as well as more effective mechanisms to attract, develop and retain talented personnel based on professional competence, ethical standards and work performance.
The action plan also emphasises accountability, requiring the replacement or dismissal of officials whose lack of responsibility or poor performance results in losses, wastefulness, operational inefficiency or obstacles to enterprise development.
In the area of digital transformation, relevant unit are requested to continue developing and upgrading banking sector databases while contributing to the completion of national databases to support supervision, policy making and the effective management of State capital, assets and other public resources. These databases are expected to improve the Government's ability to evaluate the performance of State-owned entities and make more informed decisions on resource allocation.
The central bank also instructs its subordinate units to strengthen coordination in inspection and supervisory activities to avoid overlaps and minimise disruption to the operations of State-owned enterprises and organisations.
At the same time, the plan reaffirms the Party's policy of protecting officials who act proactively, creatively and responsibly for the common good, provided their actions are free from corruption or personal gain.
The SBV also directs its units to expand dialogue with businesses and relevant stakeholders, proactively receiving feedback and recommendations in order to promptly resolve difficulties or report outstanding issues to competent authorities for consideration and settlement.
To raise public awareness of the Party's policies, the SBV Office is tasked with coordinating with the Thoi bao Ngan hang (Banking Times) newspaper to organise regular communication campaigns on the Politburo's Resolution No. 79-NQ/TW, the Government's Resolution No. 29/NQ-CP and the role of the State-owned economic sector. The campaigns should employ diverse communication channels and formats to improve the effectiveness of policy communication and foster public understanding./.
