Deputy Prime Minister Ho Duc Phoc: In recent years, cashless payments have developed rapidly and remarkably.
Speaking at the workshop "Cashless payment: Driving force for digital economic growth" organized by Tuoi Tre newspaper in collaboration with the State Bank on June 14 in Ho Chi Minh City, Deputy Prime Minister Ho Duc Phoc said that this is a very good and meaningful topic.
According to him, when we have an essential information technology infrastructure, all digital economic activities will develop. For example, when we develop e-commerce, of course there will be cashless payments.
Furthermore, cashless transactions and payments are not only a cheap, fast form of payment that is not dependent on geographical distance, but also help digitize cash flow and manage finances intelligently; promote the development of fitech technology (Mobile Banking, e-wallet, card, QR code, Vn Pay, payment by phone, ...).
Deputy Prime Minister assessed: In recent years, cashless payments have developed rapidly and remarkably.
He cited: By the end of 2024, Vietnam will have more than 204.5 million individual customer payment accounts; 154.1 million bank cards; 86.97% of adults have bank accounts.
We have made most online payments such as hospital fees, tuition fees; transportation, gasoline, etc. associated with invoice issuance to create convenience and reduce costs for businesses and people.
Deputy Prime Minister Ho Duc Phoc said that these are very encouraging signs, this is an inevitable trend, a movement in the digital economy, showing a major change in the behavior of businesses and people, and the digital transformation efforts of state agencies. Therefore, we need to research to develop non-cash payments, the digital economy to be stronger and more effective.
Delegates attending the workshop.
The Deputy Prime Minister emphasized: The Party and the State pay special attention to science and technology and digital transformation. Resolution 57 of the Politburo on the development of science and technology, innovation and national digital transformation has deeply demonstrated that.
On the Government side, the National Assembly has issued many laws related to this field, such as: Law on Electronic Transactions, Cyber Security, Law on Information Technology, Telecommunications, Law on Information Security, Law on Digital Data, Law on Anti-Money Laundering, Law on Credit Institutions, Law on Personal Data Protection... and related decrees. These are extremely important legal foundations that create momentum for the development of digital platforms, promote non-cash payments and vice versa, promote the development of the digital economy.
Emphasizing that we are always aware of the benefits of cashless payments, the Deputy Prime Minister said that for businesses and people, cashless payments help increase business efficiency, easily control cash flow, expand the online market, save costs, reduce paper use to reduce environmental pollution, and at the same time, bring convenience and safety to people when using cashless payment services.
However, the implementation process still has challenges that need to be overcome in the coming time. For example, the habit of using cash, the fear of leaving traces, and the reluctance to share. The infrastructure is not yet synchronized, so there are places where the signal is weak, unstable, and payment is difficult. Security and confidentiality risks (fake messages, citizen identification, OTP codes, etc.) lead to loss of money.
Some legal platforms are not yet complete such as cryptocurrencies, cross-border payments, virtual currencies...
Deputy Prime Minister and delegates performed the opening ceremony of the Cashless Festival - Ting Ting Day 2025.
According to Deputy Prime Minister Ho Duc Phoc, in the coming time we need to have synchronous solutions to rapidly develop non-cash payments to promote the development of the digital economy.
The Deputy Prime Minister emphasized a number of solutions that need to be focused on, the first of which is to perfect the law to create a legal framework to create momentum for development. For example, we currently do not have a legal basis for virtual currency, cryptocurrency, cross-border payments, etc. The Government has assigned the Ministry of Finance to research and develop a legal framework on this issue.
According to the Deputy Prime Minister, this is a very difficult issue with many risks, but it is a development trend of the world. Therefore, "we cannot stand aside".
Besides, it is necessary to research and perfect the legal basis for cross-border payments.
Continue to focus on strongly developing shared infrastructure, information technology infrastructure, payment technology, etc. Diversify products and services. Improve security and confidentiality against cybercrime, protect people's interests in non-cash payments.
At the same time, it is necessary to promote propaganda to raise awareness among people and businesses. Improve the effectiveness of coordination between ministries, localities, units and the quality of human resources to effectively implement the set goals.
Deputy Prime Minister visits product display booths and experiences digital services at the Cashless Festival - Ting Ting Day 2025.
Cashless Festival - Ting Ting Day 2025
Also in the Cashless Day program, Deputy Prime Minister Ho Duc Phoc attended the opening ceremony of the "Cashless Festival - Ting Ting Day 2025".
The year 2025 is considered an important milestone. This is the time to summarize the Project on developing non-cash payments for the period 2021-2025 according to Decision No. 1813/QD-TTg of the Prime Minister. At the same time, this is also the time when the Vietnamese economy is strongly transforming into a comprehensive digital economic model.
After a period of explosive growth, the concept of "cashless" has become popular in life.
According to the Organizing Committee, Ting Ting Day Festival 2025 will be a lively, intimate and creative experiential space to inspire the public – especially young people.
During the two days taking place at Nguyen Hue walking street and the old Tax Trade Center area, participants will be able to enter the cashless world through many exciting activities.
Ting Ting Now Area: a place to check-in and explore the journey of digital payment development in Vietnam; Ting Ting Wow Area: a place to experience financial technology, modern digital products and services; Ting Ting Life Area: a completely cashless shopping area, from groceries, cosmetics, fashion to food and household appliances.
In addition, there is the Ting Ting Show area, the center of the festival with 2 vibrant music nights, where art and technology blend together, along with a series of activities such as the semi-finals and finals of the game show "Financial Arena", workshops on personal financial management, minigames, gifts...
Representative of the Organizing Committee, Mr. Le The Chu, Editor-in-Chief of Tuoi Tre Newspaper, said that through Ting Ting Day, the Organizing Committee hopes that this space will not only be a festival of technology, but also a festival of convenience, safety and progress, and the cashless ecosystem will become closer.
Consumers will be more confident when using digital payment methods. Businesses will realize more opportunities for transformation. Management agencies will also have an additional effective channel to connect with people in the process of building a digital society. From there, new usage habits and awareness will be formed, contributing to building a more developed, modern and convenient digital society.
Notably, within the framework of this year's Cashless Day, the Organizing Committee also coordinated with the Ministry of Industry and Trade to organize the 2025 national concentrated promotion program - "Vietnam Grandsale 2025". This is the first concentrated promotion program in 2025, which will take place from June 14, 2025 to July 14, 2025.
Tran Manh
Source: https://baochinhphu.vn/pho-thu-tuong-ho-duc-phoc-thanh-toan-khong-dung-tien-mat-da-co-buoc-phat-trien-vuot-bac-102250614140515227.htm
Comment (0)