On February 28th, 2025, at the headquarters of the State Bank of Vietnam (SBV), Deputy Governor Pham Tien Dzung had a meeting with Mr. Zhang Wei Wu, Senior Executive Vice President of the Industrial and Commercial Bank of China (ICBC). Also attending the meeting, one the SBV’s side, there were representatives of the International Cooperation Department, the Payment Department, and the National Payment Corporation of Vietnam (NAPAS).
Deputy Governor Pham Tien Dzung speaks at the meeting
At the meeting, Deputy Governor Pham Tien Dzung shared with the guests about the results of the SBV’s monetary policy management, which has contributed to ensuring the macro-economic stability and controlling the inflation in Vietnam. On behalf of the ICBC, Mr. Zhang Wei Wu also presented about the macro-economic situation in China, the ICBC's activities in China and its presence in Vietnam, as well as the implementation progress of the project on bilateral retail settlement connection using QR codes between Vietnam and China.
An overview of the meeting
Deputy Governor Pham Tien Dzung acknowledged the ICBC’s report, and complimented the ICBC’s performance and its commercial presence in Vietnam, with a good history of stable operations and full compliance with the laws, contributing positively to the development of the economic and trade relations between Vietnam and China, as well as the growth of the banking system in Vietnam. Regarding the project on cross-border retail settlement connection using QR codes, the SBV Deputy Governor emphasized the importance of this project, which would create a convenient and safe payment channel, facilitating the tourism and the daily exchanges between the people of the two countries. The SBV Deputy Governor also suggested that the ICBC continue to coordinate closely with the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), which acts as the settlement bank in the project, and the switching service providers of the two countries in order to ensure that the services could be available to the people of the two countries at the earliest possibility.
Mr. Zhang Wei Wu – Senior Executive Vice President of the ICBC speaks at the meeting
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