Vietnam discusses state bank roles and budget law reforms

Vietnamese National Assembly delegates are discussing strategic reforms to the nation's financial and budgetary frameworks. Regarding the banking sector, state-owned commercial banks are being positioned as essential drivers for the socialist-oriented market economy. Their role involves maintaining macroeconomic stability, providing capital to high-risk or long-term sectors such as transport infrastructure, energy transition, and agriculture, and ensuring credit reaches remote and border regions.

Additionally, discussions are underway regarding a consolidated draft of the State Budget Law. Lawmakers aim to eliminate the inefficiency of having a single investment fund subject to two separate legal processes for planning and settlement. The proposed consolidation seeks to streamline resource allocation and introduce mandatory efficiency evaluations for public investment projects throughout their entire lifecycle, from planning to post-investment operation.