On August 31, 2023, at the headquarters of the State Bank of Vietnam (SBV), Deputy Governor Pham Thanh Ha had a meeting with Mr. Jochen Schmittmann, the newly-appointed Resident Representative of the International Monetary Fund (IMF) in Vietnam on the occasion of the start of Mr. Schmittmann’s term in office.
Deputy Governor Pham Thanh Ha and the newly-appointed IMF Resident Representative in Vietnam exchange their views at the meeting
At the meeting, Deputy Governor Pham Thanh Ha congratulated Mr. Jochen Schmittmann on his new appointment as the IMF Resident Representative for Vietnam, the Lao P.D.R. and Cambodia with an office term of three years, starting from August 2023. The SBV Deputy Governor believed that Mr. Jochen Schmittmann would provide a lot of valuable advice and policy recommendations to the Government of Vietnam in general and the SBV in particular, in light of the unique situation and economic conditions of Vietnam.
An overview of the meeting
Sharing about Vietnam’s macro-economic performance, Deputy Governor Pham Thanh Ha mentioned that the Government of Vietnam and the SBV had conducted various measures to support the businesses and the people. According to Deputy Governor Pham Thanh Ha, in the first months of 2023, the macro-economic stability had been maintained; the macro balances had been ensured; the inflation had been controlled at an appropriate level; etc. However, in addition to those encouraging results, Vietnam’s economy has been faced with various difficulties, such as the lower GDP growth rate than expected; decreases in both exports and imports due to the sluggish growths in Vietnam’s key trade partners; etc. The SBV Deputy Governor hoped that Mr. Jochen Schmittmann, on his new position as the IMF Resident Representative in Vietnam, would actively advise the Government of Vietnam, the SBV, as well as the Ministries and agencies on the policy management towards a sustainable growth, ensuring macro-economic stability. Deputy Governor Pham Thanh Ha also proposed that Mr. Jochen Schmittmann help to implement successfully the ongoing technical assistance, and consider to implement new capacity building projects, thereby meeting the increasing needs of Vietnam’s competent authorities, including the SBV.
For his part, Mr. Jochen Schmittmann affirmed that the IMF would continue to accompany the Government of Vietnam and the SBV in the socio-economic development, providing policy recommendations, training assistance, and enhancing the capacity for Vietnamese authorities to achieve the objectives as set out by the Government and the National Assembly, thereby strengthening the cooperative relationship between the IMF and Vietnam.
Le Hang