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Official Gazette

Thursday, August 6, 2020
Tags: POS
Government intensifies support for non-cash payment methods Government intensifies support for non-cash payment methods
The Government required the State Bank of Vietnam to report on a project exploring depositing cash into electronic wallets without bank payment accounts, according to Resolution 02 released on the first day of 2019.
New strategy enhances independence of the central bank New strategy enhances independence of the central bank
The Strategy for development of the banking sector up to 2030 has been recently approved by the Prime Minister, setting forth major objectives for operations of the credit institution system as well as state management responsibilities of the State Bank. Below is an interview granted by Deputy Governor of the State Bank Nguyen Kim Anh to Thoi bao Ngan hang (Banking Times) about the Strategy.
Banking sector development strategy approved Banking sector development strategy approved
Vietnam will have at least two or three banks in Asia’s top 100 largest banks and three to five banks listed on foreign stock markets by 2025 under Decision 986/QD-TTg recently approved by the Prime Minister.
Banks asked to further develop mobile payment Banks asked to further develop mobile payment
By 2020, at least 300,000 point-of-sale machines will be installed with the number of transactions reaching around 200 million per year.
Decision No. 2545/QD-TTg Decision No. 2545/QD-TTg
approving the Scheme on development of non-cash payment in Vietnam during 2016-2020
Government keen on reducing cash payment Government keen on reducing cash payment
Vietnam will strive to cut down the proportion of cash in the total payment instruments to lower than 10% by the end of 2020.
E-commerce development master plan ratified E-commerce development master plan ratified
By 2020, thirty percent of the Vietnamese population will shop online with an annual average per-capita spending of USD 350.
Thirty percent of the population to engage in e-commerce by 2020 Thirty percent of the population to engage in e-commerce by 2020
By 2020, thirty percent of the Vietnamese population will engage in online shopping with an annual average per-capita spending of USD 350, according to a draft decision approving the plan on e-commerce development during 2016-20.
New rules on registration of security over movable assets: a view from practice New rules on registration of security over movable assets: a view from practice
On February 26, 2014, the Ministry of Justice released Circular No. 08/2014/TT-BTP which takes effect on April 15, 2014, and amends Circular No. 05/2011/TT-BTP of February 16, 2011, guiding registration of, and provision of information about, security transactions and contracts and notification of asset seizures to enforce judgments directly, by post, fax or email at the National Center for Registration of Transactions and Assets under the National Registration Agency for Secured Transactions. 
Policy digest June 2012 Policy digest June 2012
The World Bank’s Vietnam-based chief economic expert Deepak Mishra said at the Vietnam Business Forum (VBF) held late last month in Hanoi that the Vietnamese Government should consider adjusting some solutions provided in Resolution No. 11/2010/NQ-CP to firmly restore Vietnam’s macro-economic stability.

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