Vietnam Central Bank Targets 20% Credit Growth Amid Crypto Surge by 2025

Vietnam's central bank is targeting a 20% credit growth by the end of 2025 to support an economic growth goal of over 8%, reflecting a strong commitment to spur lending while maintaining financial stability. Deputy Governor Pham Thanh Ha highlighted ongoing considerations for further interest rate cuts to aid this growth trajectory amid pressures such as U.S. tariffs and global uncertainties. The bank is focusing on boosting credit to businesses, particularly in sectors like technology and supporting industries, while controlling risks in more volatile sectors. This monetary expansion is expected to increase liquidity, potentially driving higher transaction volumes in Vietnam's growing crypto market, which is being formalized under new legislation effective from 2026. The Law on Digital Technology Industry introduces classifications for digital assets and provisions for cybersecurity and anti-money laundering, aligning with international standards and addressing FATF concerns. Vietnam's approach combines economic growth priorities with regulatory efforts to stabilize the financial sector and foster digital finance development.