Enhancing the Effectiveness of Law Enforcement on Cross-Ownership Control in Commercial Banks in Vietnam

ABSTRACT : In the context of the modern economy, cross-ownership is a relatively common phenomenon, and Vietnam is no exception. This presents both numerous opportunities and challenges for the banking system, and has a profound impact on the financial system as well as the national economy. The Law on Credit Institutions 2024 is highly anticipated to facilitate the development of banks and to closely monitor the potential for dominance and manipulation of these entities' operations. To achieve this goal, effective enforcement solutions and stringent oversight mechanisms are necessary. This article provides an overview of the current legal landscape regarding cross-ownership in Vietnamese commercial banks, the impacts of cross-ownership on the economy, and subsequently proposes solutions to enhance the effectiveness of law enforcement on cross-ownership control in commercial banks in Vietnam today.