Commercial banks invest nearly 630 million USD in digital transformation: SBV
Commercial banks in Vietnam have invested a total of 15 trillion VND (629.7 million USD) in digital transformation, heard an online seminar on ensuring security and safety for e-payments in the digital era held on August 21.
Hanoi (VNA) – Commercial banks in Vietnam have invested a total of15 trillion VND (629.7 million USD) in digital transformation, heard an onlineseminar on ensuring security and safety for e-payments in the digital era held onAugust 21.
Pham Anh Tuan, Director General of the State Bank of Vietnam(SBV)’s Payment Department, said that digital transformation contributes topromoting non-cash payments, and all forms of digital payment are towards thegoals of the Cashless Payment Development Project for the 2021-2025 periodwhich targets around 85% of Vietnamese people aged 15 and over have bankaccounts by 2025.
In addition, promoting the use of digital services helpspeople avoid illegal money transfer services and loan sharks, he added.
Nguyen Quoc Hung, Vice President and Secretary General ofthe Vietnam Banks’ Association, said that during the digital transformation process,the Government and the central bank always order that safety must come first. Therefore, commercial banks and credit institutions, when deployingtechnology software systems, give the top priority to ensuring maximum safety.
Cashless payments are booming in Vietnam. (Photo: VNA)
The central bank's point of view is that digital transformation mustgo hand in hand with information safety, security and confidentiality in orderto create people's trust in digital banking products and services, said Tuan.
According to the expert, the central bank regularly reviews,amends and supplements, and coordinates with relevant ministries and sectors toissue documents related to enhancing security, especially in protectingcustomers’ information.
It has also cooperated closely with the Ministry of PublicSecurity and competent agencies to promptly review and detect any forms of scamand payment fraud, he added./.
Cashless payments are developing rapidly in Vietnam, especially after the COVID-19 pandemic, with transactions via banks averaging 40 billion USD per day, according to Pham Anh Tuan, Director of the State Bank of Vietnam (SBV)’s Payment Department.
With emerging technologies such as AI and blockchain, Việt Nam has the ability to leverage data connectivity to create ‘an integrated payment ecosystem’ to promote cashless payments, experts said at a meeting last Friday in HCM City.
Cashless payments are developing rapidly in Vietnam, especially after the COVID-19 pandemic, with transactions via banks averaging 40 billion USD per day, said the State Bank of Vietnam.
The National Payment Corporation of Vietnam (NAPAS) in coordination with the Vietnam Bank for Social Policies (VBSP) launched NAPAS 247 Quick Transfer and NAPAS 247 Quick Transfer via VietQR Code on the bank’s mobile banking app (VBSP Smartbanking) on July 31.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Speakers attend the online seminar (Photo: VNA) 
Cashless payments are booming in Vietnam. (Photo: VNA) 
