On February 28, at the headquarters of the State Bank of Vietnam (SBV), Governor Nguyen Thi Hong had a meeting with Ms. Oh Youngju, Ambassador Extraordinary and Plenipotentiary of the Republic of Korea (ROK) to Vietnam.
Welcoming Ambassador Oh Youngju and her delegation to visit and work with the SBV, Governor Nguyen Thi Hong congratulated Ms. Oh Youngju on her appointment as Ambassador Extraordinary and Plenipotentiary of the Republic of Korea to Vietnam. The SBV Governor expressed her beliefs that Ambassador Oh Youngju would contribute significantly to the development of the cooperation relations between Vietnam and the ROK.
The SBV Governor assessed that the comprehensive strategic partnership between Vietnam and the ROK has been developing strongly in all areas. The ROK is one of Vietnam’s leading economic partners, both in trade and in investment relations. Over the past time, the cooperative relations between Vietnam and the ROK in the banking sector has also been growing steadily thanks to the firm and strong attention of the two Governments.
The SBV Governor also asserted that the Korean banks and financial institutions in Vietnam have been operating effectively and in compliance with Vietnamese laws, contributing greatly to supporting the bilateral trade and investment relations between the two countries. The SBV Governor made high evaluation for the role of the ROK Financial Supervisory Service (FSS) in connecting the competent authorities of the two countries, providing timely and useful information to ensure the efficiency in the inspection and supervision over the cross-border presence of the Korean credit institutions.
Governor Nguyen Thi Hong and Ambassador Oh Youngju, together with representatives from both sides
Exchanging about the digital transformation, the SBV Governor shared that the recent 13th National Party Congress had set out the goal of developing a digital society and a digital economy, in which the banking sector is among those that have been tasked to accelerate the digital transformation process. Over the past time, the SBV has conducted prompt and strong measures, focusing on improving the legal frameworks, promulgating Circular No.16 on e-KYC, cooperating with the Ministry of Public Security to implement the Scheme of developing the applications related to the population database, the personal identification and authentication in support of the national digital transformation (Scheme 06), etc. The SBV has been assessed as one of the leading Government agencies in the digital transformation process.
The SBV Governor went on to express her admiration of the ROK for being one of the leading nations in Asia in digital banking with various enabling policies to promote this area. Governor Nguyen Thi Hong shared that digital banking is also an area that Vietnam is paying a lot of attention and really wants to learn the experience from the ROK.
For her part, Ambassador Oh Youngju expressed her sincere thanks to Governor Nguyen Thi Hong for her hospitality, and affirmed that she would always be willing to connect the SBV with the Korean partners in order to enhance the cooperation in the areas of mutual interest, especially in fintech and the digital transformation in the banking sector. The ROK Ambassador also hoped that the Korean financial institutions in Vietnam would continue to receive the strong support and facilitation from the SBV in order to improve and expand their operations.
Toward the end of the meeting, Governor Nguyen Thi Hong confirmed that the SBV would be willing to support and facilitate Korean banks to operate effectively in Vietnam, contributing to the bilateral trade and investment relations, as well as to the comprehensive strategic partnership between Vietnam and the ROK.
Le Hang