The State Bank of Vietnam (SBV) held the Year-End Meeting with representatives of international financial and foreign credit institutions in Hanoi on December 19, 2016.
The meeting was attended by members of the SBV Management Board, leaders of SBV departments and entities, representatives of international financial institutions including the World Bank (WB), the International Monetary Fund (IMF), the Asian Development Bank (ADB), foreign credit institutions in Vietnam and other foreign specialists.
Addressing the end-of-year party, SBV Governor Le Minh Hung said that in 2016, Vietnam's socio-economic development was very positive and that there had been significant achievements. Economic restructuring accompanied by innovations in the economic growth-model had achieved initial results, as part of which the restructuring of commercial banks had been accelerated and achieved significant results.
In addition, in 2016 the banking sector has accomplished several important tasks. The SBV has managed monetary policy in an active and flexible manner in close collaboration with fiscal policy and other macro policies in order to proactively curb inflation, ensure macro-economic stability, promote economic growth and support the development of the market to improve capital mobilization for development and investment.
On behalf of the SBV Management Board, the SBV Governor highly appreciated the valuable support from international financial institutions such as WB, IMF, ADB, and bilateral and multilateral donors and foreign credit institutions for the Vietnamese Government in general and the SBV in particular. The SBV acknowledged and emphasised the importance and efficiency of policy dialogues and advice from international financial institutions in the process of improving the legal framework and policy regulation. In addition, the State Bank also expressed it's appreciation for the support and cooperation of the international organizations; hence, the SBV has fulfilled the role of governmental representatives at the international monetary and financial institutions.
The SBV Governor Le Minh Hung extended the warmest regards and best wishes for Merry Christmas and a Happy New Year
In the coming months the SBV will continue to cooperate and coordinate closely with foreign partners in the implementation of programmes, projects and the completion of the legal framework for banking operations with the intention of creating a favorable investment environment in accordance with international standards for foreign credit institutions in Vietnam.
The Governor hoped that international financial and foreign credit institutions in Vietnam will continue to drive innovation in the banking sector, so contributing to developing the financial market and a sustainable economy.
He also took this occasion to extend his warmest regards and best wishes for a Merry Christmas and a Happy New Year to all the attendees.
Representatives of the international financial and foreign credit institutions in Vietnam at the year-end meeting
The representatives from the international financial and foreign credit institutions congratulated Vietnam on its socio-economic achievements over the past years. At the same time, they greatly appreciated the effective measures conducted by the Government and the SBV in the process of curbing inflation, stabilizing the macro-economy, ensuring social protection and maintaining economic growth. They promised to continue working and cooperating with Vietnam in the cause of socio-economic development.
Nguyen Giang