During the time from 9 to 11 March 2025, Governor Nguyen Thi Hong of the State Bank of Vietnam (SBV) accompanied Party General Secretary To Lam in his official visit to the Republic of Indonesia.
The Vietnamese delegation led by Party General Secretary To Lam works with leading Indonesian businesses
Vietnam and Indonesia are two dynamic economies growing steadily over the recent years. The bilateral economic and trade relationship between Vietnam and Indonesia has been developing fast, with two-way trade volume reaching a record level of 16.7 billion USD in 2024. Marking the 80th anniversaries of the two countries' National Days and the 70th anniversary of the establishment of the diplomatic relations (December 30, 1955), General Secretary To Lam and President Prabowo Subianto agreed to upgrade the bilateral relationship to a comprehensive strategic partnership."
SBV Governor Nguyen Thi Hong attends and speaks at the 30th Anniversary of Vietnam's accession to ASEAN
In the finance–banking sector, the cooperative relationship between Vietnam and Indonesia has recorded positive results. The credit institutions of the two countries have been playing an important role in connecting trade and investment, actively supporting Vietnam-Indonesia economic relationship to a new height. Within the framework of the ASEAN cooperation, the SBV and Bank Indonesia (BI) are both assuming the role of co-chairs of the ASEAN Senior Level Committee on Financial Integration (SLC) and the Task Force on Sustainable Finance (SLC-TF) for the 2024-2026 period. The two sides have been working together to promote the policy dialogues and to effectively implement the regional financial and banking cooperation initiatives.
SBV Governor Nguyen Thi Hong attends the ceremony to announce the launch of Vietnam Airlines' direct flight route from Ho Chi Minh City to Denpasar
Within the framework of the Party General Secretary’s visit, SBV Governor Nguyen Thi Hong and Governor of Bank Indonesia Perry Warjiyo signed a Memorandum of Understanding on the banking cooperation between the SBV and Bank Indonesia.
This MoU re-affirms the joint commitment between the SBV and BI to promote their strategic cooperation, creating favorable conditions for the banking cooperation between the two countries. Specifically, the two central banks have committed to promoting the cooperation in the key areas, including: the monetary policy management, the macroeconomic safety and financial stability, the payment systems, innovation and the digital transformation in the banking sector. The cooperation activities will be implemented through the channels of policy dialogues, technical cooperation, and information exchanges. This is an important foundation for the two central banks to work together more closely in the context of global economic changes and the digital transformation in the banking sector.
Also within the framework of the official visit, the SBV Governor attended many other events, including a ceremony to announce the launch of Vietnam Airlines' direct flight route from Ho Chi Minh City to Denpasar, the Business Dialogue themed “Vietnam and Indonesia: Partnership for Progress and Prosperity”, and a working session with the ASEAN Secretariat.
It is expected that the SBV Governor would continue to accompany the Party General Secretary for a State visit to Singapore from March 11-13, 2025.
HY