Tuesday, 06/10/2026
   

The 2-level local government model in the financial and banking sector

Deputy Prime Minister Ho Duc Phoc has just signed the Official Dispatch No. 67/CD-TTg dated May 19, 2025 of the Prime Minister sent to the Minister of Finance and Governor of the State Bank of Vietnam requesting the implementation of the Plan to develop decrees on decentralization, delegation of authority, and assignment of authority associated with the 2-level local government organization model in the field of finance and banking.

On May 17, 2025, the Government issued Plan No. 447/KH-CP on the development of decrees on decentralization, delegation of authority, and assignment of authority associated with the 2-level local government model. To ensure the progress and quality of implementation, Deputy Prime Minister Ho Duc Phoc requested the Minister of Finance and the Governor of the State Bank of Vietnam, in accordance with their assigned functions and tasks, to promptly, effectively, and on schedule perform the tasks assigned in Plan No. 447/KH-CP, including:

1. Thoroughly grasp and seriously and fully implement the purposes, requirements, and principles in reviewing, proposing decentralization, delegation of authority, and assignment of tasks and powers of local governments when implementing the 2-level local government model.

2. Review all specialized laws, ordinances, resolutions, decrees, decisions of the Prime Minister and circulars in the assigned state management fields to propose plans for decentralization, delegation of power and assignment of authority to local governments according to the 2-level model; completion deadline: May 19, 2025.

3. Develop draft Decrees to implement decentralization, delegation of power and assignment of authority; completion deadline: May 19, 2025. Collect opinions from localities and complete and send them to the Ministry of Justice for appraisal before May 25, 2025.

4. Review and issue guiding documents according to authority to handle problems arising in the assigned state management fields when implementing the arrangement of administrative units at all levels and organizing the implementation of 2-level local governments; Deadline for completion: May 23, 2025.

5. Prepare a report on the situation and results of the implementation of the above tasks and documents and data related to the content of the review, proposals for decentralization, delegation of authority, and assignment of authority in the sector and management field (including draft Decrees and attached appendices), report to the Prime Minister and Deputy Prime Minister Ho Duc Phoc before May 20, 2025 to serve the working session of the Deputy Prime Minister with the Ministry of Finance and the State Bank of Vietnam.

6. The Government Office monitors and urges according to the assigned functions and tasks.

Source: VGP

  • Shinhan Bank and Fineksi partner to accelerate AI transformation in credit operations

    Shinhan Bank and Fineksi partner to accelerate AI transformation in credit operations

    Ho Chi Minh City, September 21, 2026 – Shinhan Bank Vietnam Limited (“Shinhan Bank”) has officially entered into a cooperation agreement with Fineksi Company Limited (“Fineksi”), marking a new milestone in the two parties’ partnership to advance technology adoption and innovation in banking operations.

  • Viet Nam advances sustainable finance initiatives in ASEAN

    Viet Nam advances sustainable finance initiatives in ASEAN

    On September 14, 2026, a meeting of the ASEAN Capacity Building for Financial Integration Support Committee (SCCB) and the 11th meeting of the Sustainable Finance Task Force under the ASEAN Senior-Level Committee on Financial Integration (SLC-TF) were held in Ha Long, Quang Ninh, as part of the activities surrounding the 32nd SLC Meeting.

  • Vietnam’s CPI increases by 0.47% in August 2025 from previous month

    Vietnam’s CPI increases by 0.47% in August 2025 from previous month

    According to the socio-economic report released by the General Statistics Office of Vietnam (under the Ministry of Finance) on the morning of September 3, 2026, the Consumer Price Index (CPI) in August 2026 increased by 0.47% as compared with the previous month. The price indices of ten groups of commodities and services increased, while the price index of one group decreased. The CPI rose by 0.47% in urban areas and by 0.46% in rural areas.

  • Meeting pushes sustainable finance initiatives in ASEAN

    Meeting pushes sustainable finance initiatives in ASEAN

    The meetings included the ASEAN Steering Committee for Capacity Building Initiatives to Support ASEAN Financial Integration (SCCB) and the 11th meeting of the ASEAN Senior Level Committee on Financial Integration Task Force on Sustainable Finance (SLC-TF), jointly organised by the State Bank of Vietnam and Bank Indonesia.

  • 50% interest rate subsidy applies for corporate technology innovation loans

    50% interest rate subsidy applies for corporate technology innovation loans

    The loans may be utilised for purchasing machinery, equipment, and production lines; acquiring technology usage or ownership rights; conducting pilot production; hiring experts; training personnel to operate and master the technology; or carrying out product testing and verification activities.

Calculate deposit interest
VNĐ
%/year
month
Calculate deposit interest

Loan calculation
VNĐ
%/year
month
Loan calculation