Over the past five years, the world, the region and Vietnam have witnessed unprecedented changes. From the COVID-19 pandemic to geopolitical conflicts, from the digital revolution to the artificial intelligence (AI) race, everything has happened quickly with many unpredictable variables.
However, challenges and opportunities are intertwined as the new era takes shape. The Party Central Committee and General Secretary To Lam have clearly identified: “ The world is in a period of epochal change, from now until 2030 is the most important period to establish a new world order, this is also a period of important strategic opportunity, the final stage of the Vietnamese revolution to achieve the 100-year strategic goal under the leadership of the Party, creating a solid premise to achieve the goal of 100 years of national founding.
Vietcombank Headquarters successfully organized the 5th Party Congress, term 2025 - 2030
The epochal change brings new opportunities and advantages, but also many challenges, in which the challenges are more prominent and new opportunities can also appear in the moments between sudden changes in the world situation. The fourth industrial revolution, especially artificial intelligence and digital technology, brings opportunities that developing and underdeveloped countries can grasp to take the lead, develop rapidly... This is the time to 'converge' the total advantages and strengths to bring the country into a new era, the era of national development following the era of independence, freedom, building socialism and the era of innovation".[1] This time requires more than ever a proactive, determined, and striving spirit, promoting internal strength and confidence to "overcome challenges, overcome oneself, realize aspirations, reach goals, and achieve great achievements".[2]
The major resolutions and conclusions issued by the Central Committee in recent times have demonstrated our Party's consistent vision, determination to break through and aspiration to reach new heights. Conclusion No. 123-KL/TW of the Party Central Committee, issued on January 24, 2025, sets a GDP growth target of 8% or more in 2025 - not only an economic indicator, but also a strong call to action, aiming to arouse national aspirations, creating a sustainable position and strength for the high-speed development journey from 2026.
Resolution 57-NQ/TW dated December 22, 2024 of the Politburo on breakthroughs in science, technology, innovation and national digital transformation has established a new system of national development values, in which innovation becomes the central pillar of all growth strategies, digital transformation is the driving force throughout from institutions to organizational models.
Along with that, Resolution No. 68-NQ/TW dated May 4, 2025 of the Politburo on private economic development affirms that the private economy plays a core role in building an independent, autonomous, self-reliant, and self-reliant economy associated with deep, substantive, and effective international integration, helping the country escape the risk of falling behind and rise to prosperous development.
“Overcome challenges – Break through – Steadily pioneer”
During the 2020-2025 term, closely following the leadership of the Party, the Government and the State Bank, the Vietcombank Party Committee has led the entire Party Committee and the system to join hands, promote the spirit of solidarity, innovation, creativity and adaptation to continuously maintain the No. 1 position, maintain an impressive growth rate, expand the scale of operations, improve service quality, strive to exceed the business targets set by the Resolution of the 4th Vietcombank Party Congress, the total assets in the period of 2020-2024 increased by more than 1.6 times and exceeded 2 million billion VND by the end of 2024[3]; always maintain the position of the listed bank with the largest capitalization scale on the stock market, in the group of 100 banks with the largest capitalization scale globally from 2022...
Along with these achievements come increasing responsibilities and expectations. Vietcombank’s Party Committee and Board of Directors are well aware that its leading position means facing more stringent demands and greater challenges. Externally, there is fierce competition from new-generation digital banks, fintech companies and open financial ecosystems. Internally, there is an urgent need for restructuring, technological modernization and changing the mindset about organization, resources and culture in a system that is on the way to becoming a regional financial group. However, this is also an opportunity for Vietcombank to fully promote what has created its identity over more than 6 decades of formation and development, further promoting the endogenous driving force to create sustainable competitive strength in the new era.
It is from that context - with new requirements, new vision, new motivation, Vietcombank Party Committee issued Resolution 2639-NQ/DU, dated April 11, 2025 on leading political tasks and Party building work, promoting the Spirit, Courage and Intelligence of Vietcombank "Overcoming challenges - Breaking through - Steadily pioneering".
Five guiding principles
To ensure direction and consistency in leading political tasks and Party building work, Vietcombank Party Committee has identified five key guiding viewpoints.
Firstly, to promote the Spirit, Courage and Intelligence of Vietcombank to the fullest; to arouse the desire for development, bringing Vietcombank to "Overcome challenges - Breakthrough - Steadily pioneer";
The second is to emphasize the Pioneering Spirit, Courage and Intelligence of Vietcombank, which is “ready to change, face all difficulties and challenges, and always be a pioneer in innovation to lead”. One of the typical examples of this pioneering step is the successful go-live of the Core banking system in early 2020 or boldly expanding the international market in the midst of the global economic instability, establishing a Representative Office in the US in November 2019 - becoming the first Vietnamese bank to be present in the world's largest financial market.
Third, it is to affirm that the desire for development is the desire to innovate thinking, to overcome limits, to move from safety to breakthrough, from accompanying to leading, from stability to innovation.
Fourth, overcoming challenges means "daring to face the resistance of old mechanisms and old models, daring to remove internal barriers and accepting change for progress";
Fifth, "breaking through is not only about growing in scale but also improving in quality, from financial efficiency to social, cultural and human values".
The breakthrough is led by the pioneering spirit, courage and intelligence on the basis of modern management science, innovative culture, and the desire to master technology and innovate. In the overall flow of the nation's aspirations to rise up, these guiding views of the Vietcombank Party Committee further demonstrate the high unity of perception and action between innovative thinking in the Party organization at an enterprise with a historical mission like Vietcombank. This is the aspiration to "Overcome challenges" - not only to adapt, but to lead and create.
Seven key directions
Innovative thinking only becomes a strength when it is institutionalized into action with clear orientation, strategic depth and specific implementation focus. Resolution 2639-NQ/DU of Vietcombank Party Committee clearly stated 7 orientations, identifying the core factors for Vietcombank to "Strengthen and Breakthrough - Steadily Pioneer".
Firstly, preserve and promote Vietcombank's cultural identity, turning it into "soft power" in governance to enhance internal strength. Trust is to maintain the trust of the people, the Party and the market; Standard is to establish professional and technical ethics standards in the entire system; New is to constantly innovate and create; Durable is to develop sustainably, adapt flexibly and Humanity to develop people as the focus and driving force.
Second, enhance the Party's comprehensive leadership and direction role, firmly maintain the comprehensive leadership and direction role of the Executive Committee, Standing Committee, Party Committee Secretaries and Party Committees at all levels; innovate leadership methods; link the responsibility of leaders with implementation effectiveness; link leadership with innovative thinking and spirit of action; implement resolutions with specific, measurable actions.
Third, streamline the organization, operate optimally and effectively. Organize a streamlined apparatus, clear functions and tasks, clear people and clear jobs, high efficiency; develop high-quality human resources, smart risk management, advanced operating technology; cut out unnecessary intermediate levels, and comprehensively digitize business processes.
Fourth, digital transformation - creating a breakthrough momentum, thereby researching and applying new technologies, taking advantage of science and technology to comprehensively digitize operations; building business models, modern digital production methods; improving management capacity, exploiting and using data as a new production resource; developing digital products, digital banking, digital risk management, digital human resources.
Fifth, optimize resources, combat waste and invest effectively in the direction of reallocating resources according to long-term strategic orientation; improve efficiency of use, combat waste; increase investment priority for innovation, creativity, digital assets and core technology; consider resource efficiency as a measure of leadership and governance.
Sixth, develop human resources to master the new era. The focus is on building a team with strategic thinking, systemic thinking, transformational thinking and appropriate capacities to adapt to the new era; discovering and nurturing talents, developing a team of "transformational key" cadres; focusing on young human resources and strategic successors at all levels; establishing a working environment that fosters innovation and the courage to act.
Seventh, linking banking strategy with national strategy, financing key economic projects, infrastructure development, green transformation and digital transformation; accompanying the cause of private economic development and comprehensive finance; affirming the role of national banks in building a strong country.
Vietcombank's vision to 2030 does not stop at maintaining its position as the number 1 bank in Vietnam, but also aims to become a leading financial group in the region, entering the top 200 largest financial groups globally and the 700 largest listed enterprises in the world, making practical contributions to the country's sustainable development. Towards realizing that vision, Resolution 2639-NQ/DU can be considered a guiding principle for action, clearly defining key priorities from organization - human resources, corporate culture, digital transformation, to market development and risk management. The Resolution demonstrates the strong commitment of Vietcombank's Party Committee in leading the entire system into a new stage of development - more courageous, more creative and more breakthrough./.
Source: https://baolamdong.vn/vietcombank-trong-hanh-trinh-vuot-len-thach-thuc-vuon-minh-but-pha-vung-buoc-tien-phong-384505.html
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