During discussions in Hanoi on May 13, participants agreed that after more than one year of joining the World Trade Organisation (WTO), the country’s banking system has made certain progress.

According to the workshop’s assessment, the State Bank of Vietnam has constantly improved its legal framework for banking activities by issuing many adjusted legal documents on the issue. Mechanisms and policies on banking activities have become more and more complete in conformity with international regulations.

In the meantime, the management of monetary policies has been renovated in accordance with market principles together with the development of indirect tools to manage these policies.

In addition, interest and exchange rates have been adjusted to conform to market mechanisms.

The nation’s commercial banks have been developed in both scale and service quality.

Although affected by unexpected changes of the international financial market, the country’s banking system has maintained its healthy development to contribute to national economic achievements, the participants said.