On December 30, 2022, the State Bank of Vietnam (SBV) issued Decision No. 2220/QD-NHNN on the SBV’s Plan of Administrative Reform for 2023.
The SBV’s headquarters
The overall goals of the Plan are to accelerate the implementation of the administrative reform in line with Resolution No. 76/NQ-CP of the Government; to reform strongly the administrative regulations and procedures; to improve the investment and business environment for smooth and healthy banking operations; to modernize the methods of management based on data and effective application of digital technologies, thereby creating breakthroughs in the administrative reform.
Six specific objectives of the Plan are:
(i) continuing to review, amend, supplement and improve the legal frameworks, mechanisms and policies on monetary and banking operations;
(ii) accelerating the simplification of business conditions and the handling of administrative procedures independently from the administrative boundaries;
(iii) renovating the implementation of the Single Window Service (SWS) and the Integrated Single Window Service (ISWS) for the handling of administrative procedures at the SBV, meeting the requirements for digitizing all documents and processes in the handling of administrative procedures at the SBV;
(iv) promoting the innovation of the working methods to improve the operational efficiency.
(v) strengthening the digital transformation of the banking sector towards the e–Government, creating banking models based on the digital data and technologies, facilitating the development of digital banking, enhancing the connectivity, the data and infrastructure sharing with other agencies and sectors to develop and expand the digital ecosystem.
(vi) continuing to improve the management mechanisms and regulatory documents on the management of capital investment, finance and assets; improving the roles and responsibilities of the entities for effective and efficient expenditures, procurement and investment.
The Plan also includes specific substances and tasks related to the institutional restructuring and policy improvement; restructuring of the organizational structure; the enhancement of the rights and obligations of banking officials; the public financial restructuring and the formulation and development of an e-Government, aiming to achieve a digital Government.
Based on the functions and assigned tasks, all of the heads/leaders of the SBV entities are requested to proactively identify the relevant substances and integrate the Plan into their own administrative reform plans.
The Decision took effect from the date of signing.
Le Hang