Publication: Financial Sector Assessment : Vietnam
Date
2014-06
ISSN
Published
2014-06
Author(s)
World Bank
Abstract
Vietnam has achieved remarkable progress
since the start of its transition from a centrally planned
economy in the mid-1980s. The Economic Renovation Policy
announced in December 1986 marked the transition from a
centrally planned economy to a mixed economy with greater
reliance on markets and increased participation of private
financial and non-financial institutions. These reforms
contributed to an impressive performance in the last two
decades, since 1990 the annual GDP growth has exceed 7
percent and per capita income has increased three-fold. This
Financial Sector Assessment Program (FSAP) provides a broad
set of policy recommendations that can be used to
operationalize the SEDP and the banking restructuring
program. The recommendations fall into three groups: (i) a
plan to work out the large stock of existing NPLs; (ii)
measures to ensure sound new flows of finance and prevent
the accumulation of additional NPLs; and (iii) a set of
policy steps designed to protect the financial sector during
the envisaged reform period. For each group of measures, the
plan identifies pre-conditions (first phase) and sub-sets of
measures that needs to be implemented in the short run
(second phase) as well as those that can be phased in over
the medium term (third phase).
Citation
“World Bank. 2014. Financial Sector Assessment : Vietnam. © Washington, DC. http://openknowledge.worldbank.org/handle/10986/20583 License: CC BY 3.0 IGO.”