The Prime Minister directed the banking industry to upgrade and develop payment infrastructure to ensure continuous, smooth and safe operations - Photo: VGP
On the afternoon of May 29, Prime Minister Pham Minh Chinh attended the event "Banking Industry Digital Transformation Day 2025" and announced a VND500,000 billion credit program for science , technology, innovation, digital transformation and strategic infrastructure.
Speaking at the event, the Prime Minister emphasized that digital banking transformation has been and is on the right track, the more we do it, the more experience we gain and the more mature we become.
The Prime Minister said that the goal of digital transformation is to help connect and facilitate transactions between commercial banks, people, businesses and the state. At the same time, digital transformation contributes to the rapid and sustainable development of the country, contributing to the development of the digital economy , digital government, digital society and digital citizens.
In addition, digital transformation also helps reduce costs for people and businesses; reduce time, reduce costs, reduce hassle, prevent corruption and negativity...
Promote upgrading and developing payment infrastructure
In order for the banking industry to continue to be at the forefront of digital transformation, the Prime Minister assigned the State Bank to urgently organize the implementation of a controlled testing mechanism in the banking sector and soon submit to the Government a decree on Mobile Money...
At the same time, the banking industry focuses on developing digital infrastructure, modern digital platforms, ensuring system security and safety, and high interoperability.
Promote upgrading and developing payment infrastructure to ensure continuous, smooth and safe operations, well meeting the diverse and rapidly increasing payment needs of people and businesses.
Invest heavily in cybersecurity, data security, build a cybersecurity monitoring center and effective incident response capacity. Build a database; promote secure data connection and sharing to develop a financial services ecosystem.
In order to create momentum to promote digital transformation in the banking industry, the Prime Minister directed the banking industry to develop digital data, combined with Project 06.
Specifically, the banking industry closely coordinates with the Ministry of Public Security to effectively implement Project 06, focusing on providing banking services and utilities to people and businesses through the VNeID platform.
Promote connection and data sharing between national and specialized databases and the National Public Service Portal, promoting fast, convenient and safe online payments.
Prime Minister visits C06's digital transformation exhibition booth - Photo: VGP
Urgently implement the 500,000 billion VND credit program
On this occasion, the State Bank announced a VND500,000 billion credit program (with 21 commercial banks registered to participate) to lend to strategic infrastructure projects (such as transportation, electricity, digital infrastructure, etc.) with preferential interest rates (reduced by 1% or more compared to medium and long-term loan interest rates).
Regarding this issue, the Prime Minister requested the State Bank and banks to urgently organize and implement the 500,000 billion VND credit program with the spirit of "what is said must be done, what is committed must be done, what is done must produce specific products, measurable results", "tell the truth, do the truth, real results, people enjoy real results".
The value of non-cash payments is 25 times GDP.
According to the State Bank, non-cash payment activities have been widely deployed and have made remarkable progress. Accordingly, the proportion of adults with payment accounts has reached 87%, exceeding the target of 80% by 2025. The value of non-cash payments in 2024 will reach over VND295 million billion, 25 times higher than GDP.
About 80% of pensioners, social insurance and unemployment benefits in urban areas are paid through accounts.
Payment infrastructure is maintained continuously, smoothly and securely, without incidents or congestion. Cross-border retail payment connection with Thailand, Cambodia, Laos is being deployed (currently being deployed with China and South Korea).
Speaking at the event, Ms. Nguyen Thi Hong, Governor of the State Bank, said that if digital transformation is a journey, data is the heart - the life force that operates this entire process.
Recognizing the core role of data, the banking industry has constantly innovated and upgraded its data infrastructure, focusing on connecting with other industries and fields, gradually building a smart and sustainable digital ecosystem.
Source: https://tuoitre.vn/cong-bo-chuong-trinh-tin-dung-500-000-ti-dong-cho-khoa-hoc-cong-nghe-doi-moi-sang-tao-20250529211613313.htm
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