What did Governor Nguyen Thi Hong say in her 2024 Lunar New Year greeting letter to the banking industry?

According to the Governor, the existing, limitations, difficulties, and challenges in monetary policy and banking operations have been thoroughly evaluated and identified in order to take serious measures to address them and make flexible, appropriate improvements in line with the actual situation of the economy.


Nguyen Thi Hong, Governor of the State Bank of Vietnam

The Governor of the State Bank of Vietnam, Nguyen Thi Hong, recently sent a New Year’s Greetings Letter to the generations of officials, civil servants, employees, and workers in the banking industry. We would like to publish the original New Year’s greeting letter from the Governor of the State Bank of Vietnam:


On the occasion of the new year 2024 and the traditional Lunar New Year of Giap Thin, on behalf of the Party’s Executive Committee, the Leadership of the State Bank of Vietnam, I would like to send warm greetings and best wishes to the generations of officials, civil servants, employees, and workers in the banking industry.

Dear comrades!

In 2023, despite facing numerous difficulties, challenges, and unpredictable developments, with the global economy continuing to grow slowly, escalating inflation, declining global trade, significant fluctuations in basic commodity prices, increasing political conflicts, and a tightening food security policy… but under the resolute, astute leadership, guidance of the Party, State, Government, and the efforts of the entire political system and the people, our country has achieved significant, comprehensive results in various fields. The macro economy is stable. Inflation is controlled at a low level. Major economic balances are ensured, and Vietnam continues to shine in the overall economic picture, with Vietnam’s position in the international arena continuing to improve.

In this general context, with a firm grasp of the Party’s viewpoints, the resolutions of the National Assembly, the Government’s resolute direction, the State Bank sector has made efforts and determination to overcome all difficulties and challenges, including complex difficulties, unprecedented challenges, to best fulfill the assigned objectives and tasks, making an important contribution to the country’s overall results, which are shared, recognized, and positively evaluated by all levels, sectors, localities, the business community, and international friends.

The monetary, credit, and foreign exchange policies are smoothly and flexibly coordinated and cleverly maneuvered, both stabilizing the monetary and foreign exchange markets, contributing to controlling inflation at a low level, and reducing loan interest rates, promoting credit growth, and supporting economic growth. Many solutions and programs to overcome difficulties for businesses and people have been consistently and actively implemented, especially debt restructuring policies, preserving debt groups, and specific credit programs. The legal framework for monetary and banking has been focused on improvement, which is not only more favorable for businesses and people to access credit and banking services but also ensures the safe operation of the credit system. The work of restructuring credit institutions associated with handling bad debts has been resolutely implemented, difficulties and obstacles in handling weak banks have been focused on resolving. Digital transformation, application of IT, non-cash payment, and connection of national databases on population continue to achieve many positive results. International cooperation in the monetary and banking sector has continued to expand and grow, contributing to raising the role and position of Vietnam in the international arena. The discipline, rules, ethics in public service and professional ethics in banking activities have been concentrated to be adjusted, consolidated, and strengthened.

Existing, limited, difficult, and challenging issues in monetary policy management and banking operations have been seriously evaluated and recognized to have appropriate measures for correction, flexible improvement, and suitability with the practical situation of the economy.

On behalf of the Party’s Executive Committee, the Leadership of the State Bank of Vietnam, I want to acknowledge and commend the achievements of the banking industry in 2023.

2024 is a year of special importance in implementing the Resolution of the 13th Party Congress and the 5-year Socio-Economic Development Plan 2021 – 2025. In the context of forecasting that the world economy and the domestic economy will continue to face many difficulties and challenges, I hope that all officials, civil servants, employees, and workers in the banking industry will promote stronger resilience, intelligence, spirit of unity, innovation, professional ethics, to co-invest, share, strive, and determinately overcome all difficulties, challenges, striving to best fulfill all assigned tasks, make even more positive contributions to the country’s overall achievements in 2024, deserving the role and position of the banking industry as the lifeblood of the economy.

Wishing all comrades and their families a healthy, happy, and successful new year.

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