Governor Le Minh Hung of the State Bank of Vietnam (SBV) had a meeting with Mr. Takehiko Nakao, President of the Asian Development Bank (ADB) in the SBV headquarter office on June 16.
At the meeting, ADB President Takehiko Nakao emphaized that, the close relationship between the ADB and the Government of Viet Nam has been strengthened and well developed over the past years. The President highly appreciated Vietnam – an active member country for its important role in ADB cooperative strategy and that the country got sympathy and full support from the highest leaders of the ADB.
The President Nakao spoke highly Vietnam’s achievements of poverty reduction, macroeconomic stabilization and inflation management. The President also appreciated Vietnam for impressive and sustainable economic growth and he noticed the importance of Vietnam determination to pursue the objective of macroeconomic stability as the most important factor for inclusive and sustainable growth. In addition, ADB president recommended Vietnam to continue accelerating banking and state owned enterprise reforms, boosting SMEs and maintaining sustainable sovereign debt.
For his part, SBV Governor Le Minh Hung asserted that Vietnam Government and the SBV highly valued the cooperative relationship with the ADB and the ADB’s strong assistance, consultancy and sovereign lending for Vietnam. The ADB assistance has been taking full and effective play to help Viet Nam to promote more inclusive socio-economic development. Vietnam Government hopes for further ADB’s support, thereby contributing to successfully meeting the objectives of economic reform and poverty reduction of Vietnam in the coming time. The Governor stated that Vietnam Government and the SBV determine to pursue the objective of stabilizing macro economy, promoting economic growth and controlling inflation. He highly appreciated the recommendations made by ADB President Nakao for Vietnam and confirmed that Vietnam Government will continue to strengthen public investment, the restructure of the system of credit institutions and state owned enterprises. Particularly, Vietnam Government has been completing legal framework to create favorable conditions for SMEs to grow. For banking sector, SBV Governor said that, the SBV has cconducted a comprehensive reform in banking system and it will continues to expand the reform. The SBV is completing the legal framework on banking performance, innovating the regulation on monetary policy management toward the standardization of commercial bank management, promoting the compliance of prudent ratios and NPL ratio; formulating the Scheme of restructuring the system of credit institutions for period 2016 – 20120 with the aim of strengthening credit institutions and accelerating NPL resolution. The Governor spoke highly the ADB’s technical assistance and funding for financial and banking sector. He expressed his hope for obtaining further support from ADB for implementation of the Scheme of restructuring credit institutions and NPL resolution, especially for improving capacity for Vietnam Asset Management Company (VAMC).
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ABD President Takehiko Nakao and SBV Governor Le Minh Hung exchanged their gifts on the occasion of 20 year anniversary of ABD Resident Mision establishment in Vietnam.
For the activities held by the ADB the occasion of 50 year Anniversary of the ADB foundation and 20 year Anniversary of ABD Resident Mission establishment in Vietnam, SBV Governor said that Vietnam Government and the SBV fully support and actively participate on the organization of the meaningful and special anniversaries.
VMH