After 30 years of reform, the financial system of Vietnam has been constantly growing in all aspects and increasingly integrated into the international financial market, contributing significantly to the economic growth of the country. In addition to these outstanding achievements, the financial system of Vietnam is still laying down requirements for strengthening the supervision of the financial market in line with the rapid growth in scale, network and various types of product and services and compliance with the requirements of integration with the international financial market. In order to meet the actual developments of the financial system of Vietnam, then, it was imperative to have an agency to assist the Prime Minister to coordinate the overall supervision of the national financial market.
The National Financial Supervisory Commission (hereinafter referred to as the Commission) was established and operated under the Decision No. 34/2008 / QĐ-TTg dated 03/03/2008, Decision No. 79/2009 / QĐ-TTg dated 18 May 2009 and Decision 15/2015/QĐ-TTg dated 12 May 2015 of the Prime Minister. Accordingly, the Commission shall advise the Prime Minister in analyzing, evaluating and forecasting the impact of financial market on macro economy and the impacts of macroeconomic policies to the financial market; coordinating the supervision of the national financial market (banking, securities, insurance), helping the Prime Minister to carry out general supervision of the national financial market. After 10 years of establishment, although the Commission still faces many difficulties and challenges but thanks to the Government and the Prime Minister’s attention, the active coordination of ministries, committees, branches and domestic and international organizations, the Commission has actively implemented its assigned tasks, regularly advising and consulting the Prime Minister, ministries on macroeconomic policies, especially monetary and fiscal policies and mechanisms in the context that the economy has been affected by the global financial chaos. The Commission has developed, finalized and advised on a wide range of financial market monitoring reports, economically and financially conglomerate supervision reports, and other reports. With these reports, the Commission has proposed lots of assessment, forecast, warning to the level of safety, as well as possible risks to the financial system of Vietnam to the Government, the Prime Minister, related ministries and branches as well as specialized management and inspection agencies (banks, securities, insurance), contributing to timely put forwards synchronous solutions aimed at preventing risks, fails of financial institutions, and ensuring the safety, health and sustainable development of the financial system .