Financial Sector Assessment : Vietnam
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 mixe...
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| Format: | Financial Sector Assessment Program (FSAP) |
| Language: | English en_US |
| Published: |
Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2014/06/20375067/vietnam-financial-sector-assessment http://hdl.handle.net/10986/20583 |
| Summary: | 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). |
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