Program to implement the national comprehensive financial strategy of Vietnam to 2025: Have regulations been issued allowing the opening of payment accounts electronically?
- What results have been achieved by the implementation of the national financial inclusion strategy to 2025 in Vietnam?
- How does the implementation of the national comprehensive financial strategy to 2025 face difficulties and challenges in Vietnam?
- What are the directions and tasks of implementing the national comprehensive financial strategy to 2025 in the coming time in Vietnam?
What results have been achieved by the implementation of the national financial inclusion strategy to 2025 in Vietnam?
Pursuant to subsection 1, Section II, Notification 261/TB-VPCP in 2022 mentions some of the results achieved in the implementation program of the national comprehensive financial strategy to 2025 as follows:
- The legal framework related to financial inclusion has been gradually improved;
- The supply network of financial products and services is widely developed throughout the country, especially the supply channels of products and services on modern platforms such as mobile phones and the internet.
- Financial products and services are developed in a variety of ways, modern, safe and convenient with reasonable costs, suitable for many customers thanks to the application of achievements of the industrial revolution 4.0. Payment infrastructure continues to be fully invested.
- Actively implement communication on the role and meaning of financial inclusion and financial education in many diverse, creative and effective forms, thereby contributing to raising financial awareness and understanding for people; financial consumer protection mechanisms continue to be improved.
- A number of important solutions to enhance the access to financial products and services of people and businesses have been actively coordinated and implemented by relevant ministries, branches and localities such as: promulgated regulations allowing the opening of payment accounts electronically, piloting the use of telecommunications accounts to pay for goods and services of small value, building and operating the national database system on population...
Program to implement the national comprehensive financial strategy of Vietnam to 2025: Have regulations been issued allowing the opening of payment accounts electronically?
How does the implementation of the national comprehensive financial strategy to 2025 face difficulties and challenges in Vietnam?
Pursuant to subsection 2, Section II of Notification 261/TB-VPCP in 2022, it mentions difficulties and challenges when implementing the national comprehensive financial strategy to 2025 as follows:
- The service supply network is still not synchronous, it is necessary to complete, streamline and expand coverage further to rural, remote and economically disadvantaged areas.
- With the rapid development of science and technology, besides the advantages, the accompanying challenge is to ensure safety. The legal framework to protect consumers, especially safety and cybersecurity, needs to be completed in accordance with practical requirements. Modern financial products and services have many advantages but need to be suitable for users, especially people in remote areas to be easily accessible and easy to use. Infrastructure, especially digital infrastructure, needs to continue to improve.
- People need to be propagated and disseminated relevant knowledge about financial inclusion in an appropriate and effective way, ensuring easy to understand, easy to remember, easy to do, easy to check and supervise, especially to improve understanding and skills in using financial services, making people see the utility, benefits of new services and technologies. There is a way to propagate and use products and services suitable for lovers.
- Strategy to 2025, orientation to 2030 with specific goals and solutions, but the practice has rapid changes, so it is necessary to regularly review and update to make adjustments accordingly, determined to do well to bring practical benefits to people and businesses, at the same time, maximize the participation of the people, contributing to building a prosperous and powerful country.
What are the directions and tasks of implementing the national comprehensive financial strategy to 2025 in the coming time in Vietnam?
Pursuant to Section III, Notification 261/TB-VPCP in 2022 has set out the following directions and tasks for implementing the national comprehensive financial strategy to 2025:
- Comrades in the Steering Committee actively perform the responsibilities of members of the Steering Committee, direct their ministries and branches to actively and creatively implement the tasks assigned in the Strategic Implementation Action Program.
- The State Bank of Vietnam, the standing agency of the Steering Committee as the focal point, closely coordinates with relevant ministries, branches, localities and agencies to synchronously and unify the tasks of the Strategy; promote the development of cashless payments in the economy.
- The Ministry of Information and Communications accelerates the completion of the provisions of the law on e-transactions, completes the legal basis related to enterprises using digital platforms.
- The Ministry of Finance continues to study and guide the implementation of new policies on microinsurance; improve the operational efficiency of non-budget state financial funds of the nature of lending and credit guarantee.
- The Ministry of Public Security urgently completes the national database on population and regulations on information sharing, connection, as an important basis and foundation for other ministries to exploit and use.
- The Ministry of Education and Training accelerates the integration of financial education into national general education.
- The Ministry of Agriculture and Rural Development focuses on propagating, guiding and creating conditions for farmers to easily access science, technology, capital and financial services for agricultural development.
- The Ministry of Foreign Affairs consults international experiences, coordinates with relevant agencies, actively strengthens cooperation within the framework of international programs and forums with contents on financial inclusion, contributing to promoting financial inclusion in Vietnam.
- The Ministry of Planning and Investment closely coordinates with the State Bank of Vietnam in building and completing the national database on financial inclusion.
Thus, agencies and organizations from central to local levels will base on the above content to implement solutions and tasks under their expertise to implement the national comprehensive financial strategy to 2025.
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