Deputy Prime Minister Ho Duc Phoc has urged ministries, sectors, and localities to intensify efforts to promote cashless payment nationwide.

In an official dispatch signed on July 30, the Deputy PM directed relevant authorities to swiftly implement measures encouraging non-cash transactions, enhance policy guidance, and promote widespread public awareness campaigns to drive adoption.

The move aims to meet the growing demand for digital payments from both citizens and businesses, curb tax evasion and financial crimes, and ensure strict enforcement of regulations.

The Ministry of Finance has been tasked with working alongside other ministries to bolster inspections and monitor State budget disbursement, ensure strict adherence to legal requirements on invoices and payment documentation for goods and services.

Authorities have been instructed to penalize promptly and firmly violations, particularly the deliberate use of cash to avoid taxes.

The State Bank of Vietnam (SBV) will coordinate with relevant agencies to expand the digital payment ecosystem. The central bank is also expected to strengthen inspection and supervision, implement anti-money laundering measures, and promote the development of payment infrastructure and financial technologies to support the nationwide shift to cashless transactions.