The State Bank of Vietnam (SBV) organized the final workshop on Technical Assistance “Enhancing Financial Stability” (Scoping) funded by the Asian Development Bank (ADB) in Hanoi on April 24.
The final workshop under the chairmanship by Deputy Governor Dao Minh Tu was attended by Mr. Tomoyuki Kimura, ADB Country Director for Vietnam; foreign and domestic consultants; representatives from the Ministry of Finance, Ministry of Planning and Investment, National Financial Supervisory Commission, and SBV departments.
Addressing at the final workshop, SBV Deputy Governor Dao Minh Tu said that the Technical Assistance “Enhancing Financial Stability” (Scoping) funded by ADB is the valuable support of the ADB for the SBV not only in conducting the scheme on restructuring the banking sector but also in implementing the recommendations of the Financial Sector Assessment Program (FSAP) on the sustainable development of the financial system in Vietnam.
The SBV Deputy Governor emphasized that the Vietnamese Government is aware of the great importance of financial stability. The Monetary and Financial Stabilization Department of the SBV was established early 2014. This Department is a leading entity to implement and coordinate action programs of ministries, agencies and SBV departments. Therefore, the Technical Assistance plays an important role in promptly supporting this Department’s performance. The SBV Deputy Governor expressed his hope for further support from the ADB in the coming time
The Technical Assistance was implemented in line with the schedule, directly and effectively supported for the operations of the Monetary and Financial Stabilization Department, especially in the process of formulating legal framework; compiling draft report on financial stability; improving database for analyzing systematic risk; strengthening formulation of cooperation network with the SBV; improving skills of analyzing, assessing and recognizing systematic risk, and enhancing the task of information and communication on financial stability function of the SBV.
DH