Ambassador of Switzerland to Việt Nam Ivo Sieber signed the bilateral agreement for the new Swiss Bank Executive Training programme (Swiss BET) with the State Bank of Việt Nam. Photo courtesy of the Embassy of Switzerland

HÀ NỘI — The State Bank of Việt Nam and the Embassy of Switzerland last week signed a bilateral agreement for the new Swiss Bank Executive Training programme (Swiss BET) to help build the capacity of Vietnamese bank executives.

The programme, which will run from 2022 to 2027, will provide support with a grant of five million Swiss francs (about VNĐ125 billion or US$5.4 million).

The banking industry plays a central role in efforts to sustain the high rate of economic growth. As the sector is still prone to external instabilities, strengthening the banking sector to narrow the gaps with international standards is strategically important.  

The Swiss BET programme offers the instruments required by the Vietnamese banking and financial industry to improve management practices in respective institutions. Building on the success of the previous programme phases, Swiss BET will be governed by a partnership of SBV and the State Secretariat for Economic Affairs (SECO).

The Swiss Finance Institute (SFI), the project-implementing agency, will provide expert training. The SFI will train more than 240 Vietnamese bank executives and hundreds of central bankers on the latest state-of-the-art banking management practices. — VNS