On March 12, 2026, the Co-operative Bank of Vietnam (Co-opBank) successfully presented and defended a ministerial-level science and technology research project before the Acceptance Evaluation Council established by the State Bank of Vietnam (SBV). The defense was held at the SBV’s headquarters and centered on the project titled “Enhancing the Organizational and Operational Framework of Cooperative Credit Institutions under the Law on Credit Institutions 2024.”
The project was led by Dr. Khuat Duy Tuan, Member of BOD of Co-opBank, and carried out by a research team comprising senior leaders of Co-opBank, representatives from relevant departments and units under the SBV, and subject-matter experts. The project was implemented pursuant to Decision No. 2205/QD-NHNN, dated September 30, 2024, issued by the SBV Governor, which approved the list of ministerial-level science and technology tasks for 2025.
Mr. Pham Thanh Ha – SBV Deputy Governor and Chairman of the Acceptance Evaluation Council delivering remarks at the project defense session
The Acceptance Evaluation Council was composed of distinguished experts and senior managers drawn from across the banking sector.
The Council was established under Decision No. 295/QD-NHNN, dated March 2, 2026, issued by the SBV Governor, with Mr. Pham Thanh Ha, SBV Deputy Governor, serving as Chairman. Its membership comprised representatives and experts drawn from key units under the SBV and the Banking Academy, including the Organization and Personnel Department, the Legal Department, the Department for the Safety of the Credit Institutions System, the Banking Inspection and Supervision Agency, and the Banking Academy. Of particular note, two council members served as independent reviewers, tasked with directly evaluating the scientific rigor and content of the project.
At the defense session, the research team delivered a comprehensive presentation covering the project’s implementation process, research methodologies, survey data framework, and principal findings.
The research was conducted in a rigorous and systematic manner, grounded in the practical realities of the cooperative credit institution network
To ensure both scientific rigor and practical relevance, Co-opBank organized two specialized scientific workshops throughout the course of the study to gather input from regulatory authorities, subject-matter experts, and system representatives. Of particular significance, the workshop held on April 9, 2025 — chaired by Mr. Doan Thai Son, SBV Deputy Governor — drew approximately 100 delegates, including leaders of departments and units under the SBV, regional SBV branches, the Vietnam Banks Association (VNBA), the Vietnam Association of People’s Credit Funds (VAPCF), Deposit Insurance of Vietnam (DIV), academic experts and researchers, and representatives of People’s Credit Funds (PCFs) from across the country.
In addition, the research team conducted a nationwide survey encompassing 115 questions administered across seven target groups within the system. A total of 1,239 questionnaires were distributed, yielding 1,129 valid responses and a response rate of 91.12% — a result that provided a robust empirical foundation for a comprehensive assessment of the organizational and operational framework of the cooperative credit institution system.
Drawing on survey findings, workshop inputs, and comparative studies of international experience from countries such as Germany, France, the Netherlands, Canada, and Japan, the project examined the legal and theoretical foundations underpinning the cooperative credit institution system and conducted a thorough assessment of the current organizational structure and operations of both Co-opBank and the PCF system in Vietnam. The findings collectively serve as an evidence-based foundation for proposing strategic orientations to further strengthen and refine the institutional framework in the period ahead.
Dr. Khuat Duy Tuan – Member of the Board of Directors of Co-opBank and Project Director – presented an overview of the project implementation process, research methodologies, survey data system, and the key findings of the project
Proposing Comprehensive Solutions to Strengthen the Organizational Framework of Cooperative Credit Institutions
The research findings demonstrate that, over more than three decades of establishment and development, Co-opBank and the PCF system have made substantial contributions to broadening access to financial services in agricultural and rural areas, supporting the growth of household and collective economies, and effectively curbing informal credit activity in rural regions.
Nevertheless, amid accelerating international economic integration and the banking sector’s rapid digital transformation, the organizational and operational framework of the system has revealed certain limitations — most notably in terms of operational scale, uneven financial capacity, constrained information technology capabilities, and the need to further consolidate system-wide linkages.
On this basis, the project sets forth strategic orientations for strengthening the organizational and operational framework of cooperative credit institutions in accordance with the Law on Credit Institutions 2024, with a focus on deepening system linkages, enhancing financial capacity, modernizing banking technology infrastructure, and reinforcing governance and risk management mechanisms in a manner consistent with the defining characteristics of the cooperative model. The project further advances a series of targeted recommendations concerning the refinement of the legal framework, the development of appropriate support mechanisms, and the pursuit of sustainable development across the cooperative credit institution system in the period ahead
Overview of the Ministerial-Level Science and Technology Research Project Defense Session
Having considered the research team’s presentation alongside the review comments and deliberations of its members, the Acceptance Evaluation Council highly commended the quality and practical relevance of the project. The Council recognized that the research had been conducted with thoroughness and methodological rigor, underpinned by a rich and comprehensive data system, and remained closely attuned to the operational realities of the cooperative credit institution system in Vietnam.
Consequently, the Council unanimously resolved to accept the project, awarding it a rating of “Good.” The Council also called upon the research team to further review and supplement certain aspects of the content — specifically to strengthen the theoretical foundations and international comparative analysis, and to systematize recommendations and proposals in order of priority with a clearly defined implementation roadmap — before finalizing the project and preparing for the transfer of research outcomes to relevant implementing units.
The research outcomes represent a significant milestone in Co-opBank’s scientific research endeavors, reflecting the institution’s proactive engagement with both the theoretical and practical challenges inherent in the development of the cooperative credit institution system in an evolving landscape. Beyond their immediate academic contribution, the findings offer valuable reference material for regulatory authorities in the formulation and refinement of policy, and may serve as teaching and research resources for training institutions both within and beyond the banking sector. Of particular note, the recommendations and proposals addressed to the Government, the SBV, the Ministry of Finance, and other competent authorities are firmly grounded in empirical evidence, closely aligned with operational realities, and demonstrate a high degree of feasibility — collectively contributing to the shaping of a sustainable development trajectory for the cooperative credit institution network in the coming.
Members of the research team taking a commemorative photo with members of the Acceptance Evaluation Council
Reporter
