On September 12, 2026, in Hanoi, the State Bank of Vietnam (SBV) and the Hanoi People’s Committee held a conference themed “Solutions to unlock financial and banking resources to support Hanoi’s economic growth for 2026–2030”.
The conference was attended by SBV Governor Pham Duc An; Chairman of the Hanoi People’s Committee Vu Dai Thang; SBV Deputy Governor Nguyen Ngoc Canh; Vice Chairman of the Hanoi People’s Committee Nguyen Xuan Luu; and representatives from SBV units, Hanoi’s departments and agencies, credit institutions, and businesses.
The conference focused on identifying capital needs, difficulties, obstacles, and bottlenecks in mobilizing and accessing financial and banking resources, thereby proposing solutions to support Hanoi in achieving its development and economic growth objectives.
Overview of the Conference
According to a report presented at the conference, Hanoi currently has 165 credit institutions and more than 2,000 transaction offices, making the capital city one of the country’s leading monetary and banking centers. The city accounts for more than 37% of total mobilized capital and approximately 31% of total outstanding loans across the economy.
The banking system in Hanoi recorded positive results during eight months into 2026, with outstanding credit in the city increasing by 13.05%, higher than the overall credit growth rate of the banking system.
Hanoi targets GRDP growth of at least 11% in 2026, while its GRDP increased by 8.22% in the first six months of the year. Under the city’s growth scenario, economic growth during the remaining six months of 2026 would need to reach 13.44%, including 12.54% in the third quarter and 14.26% in the fourth quarter. This requires financial and banking resources to be effectively mobilized and rapidly channeled into investment, production, and business activities.
Deputy Governor Nguyen Ngoc Canh and Vice Chairman of the Hanoi People’s Committee Nguyen Xuan Luu chair the discussion session at the Conference.
Presentations and discussions at the conference focused on mechanisms and policies for credit and the mobilization of financial resources; facilitating access to and arranging capital for major and important programs and projects in Hanoi; and identifying and removing difficulties and obstacles related to legal regulations, administrative procedures, planning, land, site clearance, and conditions for accessing and disbursing capital.
Participants also discussed practical solutions, recommendations, and proposals to unlock resources and create favorable conditions for the development of the capital city.
Governor Pham Duc An speaks at the Conference
Speaking at the conference, SBV Governor Pham Duc An said that during eight months of 2026, the SBV had decisively and synchronously implemented a range of measures to ensure stability in the monetary market, contributing to macroeconomic stability and inflation control while supporting double-digit economic growth.
The SBV implemented measures to stabilize market interest rates, reduce lending interest rates, facilitate effective credit growth, and direct credit toward key drivers of economic growth. At the same time, the SBV continued to focus on removing difficulties and obstacles faced by credit institutions and businesses in meeting their capital needs, particularly for key national projects.
As of August 28, 2026, total outstanding credit of the banking system reached approximately VND 20.5 quadrillion, up 10.24% compared with the end of 2025. Approximately 77.3% of total outstanding credit was allocated to production and business activities.
The banking sector also continued to accelerate digital transformation, leverage and connect data, and apply technology and responsible artificial intelligence (AI) to reduce operating costs, improve the quality of credit appraisal, and expand access to banking services, while ensuring security and safety and protecting customer data.
Governor Pham Duc An emphasized that bank credit is an important source of funding, but cannot and should not be the sole source of capital for all development needs. For large-scale and long-term projects, an appropriate and diversified funding structure is required, comprising equity capital, bank credit, public investment, public-private partnerships (PPP), capital market resources, official development assistance (ODA), and other legitimate sources.
He noted that the disbursement of capital also depends on a range of factors, including legal documentation, planning, investment procedures, land availability, site clearance, project progress, financial plans, management capacity, financial transparency, equity capital, and the quality of enterprises’ cash flows.
For the coming period, Governor Pham Duc An requested SBV Regional Branch 1 to continue serving as the focal point for connecting monetary and credit policies with the practical development needs of the capital city.
The branch was asked to closely monitor capital mobilization, credit growth, deposit and lending interest rates, non-performing loans, and the economy’s capacity to absorb capital; improve the effectiveness of the bank–enterprise connectivity programs; and coordinate with the Hanoi authorities in reviewing capital needs for important programs, works, and projects.
SBV units were requested to closely coordinate with SBV Regional Branch 1 in addressing recommendations, providing guidance on mechanisms and policies, and implementing solutions to support Hanoi. Issues beyond their respective authority must be promptly consolidated and reported to competent authorities for consideration and resolution.
With regard to credit institutions, the Governor requested them to reduce operating costs, accelerate digital transformation, and maintain efforts to lower lending interest rates; ensure transparency and disclosure of lending rates and credit conditions without lowering credit standards; and direct credit toward production and business activities, priority sectors, key growth drivers, and important projects.
Credit institutions were also asked to strengthen control over lending to potentially high-risk sectors; enhance credit appraisal capacity; develop green credit and financial products serving the digital economy, innovation, and small and medium-sized enterprises; and strengthen the application of data and technology.
At the same time, credit institutions must ensure system security and safety, protect customer data, and strengthen measures to prevent and combat fraud and scams in cyberspace.
In addition, Governor Pham Duc An called on businesses and project developers to proactively diversify funding sources and avoid reliance on a single financing channel; strengthen financial and corporate governance capacity; improve the transparency of financial statements; and standardize operational and cash-flow data to facilitate access to credit.
Feasible production and business plans, clear cash flows, and transparent information are important bases for banks to conduct credit appraisals and make lending decisions.
Business associations were also encouraged to continue playing their role as a bridge between businesses and financial institutions by consolidating capital needs by sector, promptly reflecting difficulties and obstacles, and supporting their members in improving financial transparency and standardizing data to facilitate access to capital.
SBV leaders and Hanoi city leaders witness the signing of cooperation agreements between credit institutions and businesses.