On December 17, 2024, at the headquarters of the State Bank of Vietnam (SBV), the 2024 Annual Bilateral Meeting between the State Bank of Vietnam (SBV) and the Bank of the Lao People's Democratic Republic (BOL) was organized under the co-chair of SBV Governor Nguyen Thi Hong and BOL Acting Governor Vathana Dalaloy.
The 2024 Bilateral Meeting was an important forum for the two sides to exchange about the macro-economic situations and to share experience in managing the monetary policy. At the meeting, Governor Nguyen Thi Hong briefed the guests of the results of the SBV’s monetary policy management, and shared that Vietnam’s economy has maintained a positive growth momentum, and the inflation has been controlled stably for the past ten years, reflecting the resilience of Vietnam’s economy.
SBV Governor Nguyen Thi Hong speaks at the Bilateral Meeting
For her part, BOL Acting Governor Vathana Dalaloy spoke highly of the SBV’s monetary policy management in a flexible manner, which has brought about good results for the banking sector in 2024 despite many difficulties.
BOL Acting Governor Vathana Dalaloy speaks at the Bilateral Meeting
About bilateral payment operations, the two sides agreed to enhance the cooperation, continue to improve the legal corridors in order to strengthen the payment operations in general and the use of the domestic currencies in particular, especially in the context of strong regional integration.
An overview of the Meeting
At the second dialogue session, several Vietnamese banks operating in the Lao P.D.R. delivered reports on their operational results in 2024 and the orientations in the coming time. Governor Nguyen Thi Hong requested those credit institutions to continue their operations in full compliance with the applicable laws of the two countries, contributing to the development of the economy in the Lao P.D.R. as well as the traditional and good friendship between the two countries. Additionally, the SBV Governor also requested the credit institutions to actively participate in the following phases of the pilot project on cross-border retail payment connections between Vietnam and Lao, using the QR codes generated by LAPNet and NAPAS.
Signing the Minutes of the Bilateral Meeting in 2024 between the two central banks
Within the framework of the Meeting, Governor Nguyen Thi Hong and Acting Governor Vathana Dalaloy signed the Minutes of the Bilateral Meeting in 2024.
The participants take a photo together