The State Bank of Vietnam (SBV) held a meeting to assess the situation and results of implementing administrative reform, cutting and simplifying administrative procedures (AP), business conditions according to Resolution 66/NQ-CP dated March 26, 2025 and the plan to upgrade the entire online public service according to plan 02/KH/BCDTW dated June 19, 2025 at the SBV. The meeting was chaired by Deputy Governor of the SBV Pham Tien Dung.
According to the report of the State Bank Office, in just the first 7 months of 2025, the State Bank issued 4 administrative reform plans, with many outstanding results. Notably, the total number of proposed administrative procedures to be reduced and simplified reached 91/298 procedures, equivalent to 30.5%. The time to handle procedures is also proposed to be reduced by 166 days and 468 working days, saving compliance costs by nearly 200 million VND.
In the first 6 months of the year alone, the SBV has proactively reviewed and cut 32 administrative procedures in 6 circulars; shortened the total processing time to 318 days. Currently, the total number of proposed business conditions to be cut and simplified is 221/722 business conditions, reaching a rate of 30.6%, of which the management and supervision of credit institutions and foreign exchange management sector accounts for a large proportion.
In addition, the SBV has coordinated with units to upgrade 98 administrative procedures to full online public services according to Decision No. 2569/QD-NHNN, and at the same time worked with the National Data Center (Ministry of Public Security) to integrate and synchronize on the National Public Service Portal.
Representatives of the Department of foreign exchange Management, the Department of Credit Institution Supervision Management, the Department of Credit Institution System Safety, and the Department of Payment have reported in detail on the results of cutting and simplifying unnecessary investment and business conditions; identifying difficulties and challenges; and at the same time proposing solutions to increase the effectiveness of cutting and simplifying investment and business conditions.
In his speech, SBV Deputy Governor Pham Tien Dung requested relevant units to urgently complete the plan to cut and simplify administrative procedures, prioritizing the creation of a legal foundation for the implementation of information technology applications. If the line is flat and not accelerated, it will certainly not be able to keep up with the progress in 2025. Therefore, all tasks need to be completed as soon as possible, no later than the end of September 2025.
The Deputy Governor also requested leaders of departments and branches to directly direct, clearly assign people and tasks, and regularly report progress to ensure the completion of the Government's assigned targets: cutting down at least 30% of the settlement time according to Resolution 66/NQ-CP... along with many other tasks in the heart.
