In Hanoi, on December 19, 2017, Deputy Governor Nguyen Kim Anh of the State Bank of Vietnam (SBV) had a meeting with Mr. Lee Juyeol, Governor of the Bank of Korea (BoK). Also attending the meeting were representatives from the International Cooperation Department, the Monetary Policy Department, the Forecasting and Statistics Department, the Foreign Exchange Management Department, the Department of Legal Affairs and the Banking Operations Center.
At the meeting, Deputy Governor Nguyen Kim Anh warmly welcomed Mr. Lee Juyeol to the SBV. He said that the SBV highly appreciated the cooperation and support from the BoK, especially in the framework of the BoK’s Knowledge Partnership Program (KPP), which has been implemented for the past two years, focusing on “Exchange rate and Foreign Currency Liquidity Forecasting Model – Korea’s experience” (2016) and “Formulation of Foreign Exchange Information System and forex market and FX liquidity supervision indicators: Korea’s experience and suggestions” (2017), which were selected topics coming from the SBV’s demands and recommendations. Therefore, these are very practical and highly applicable topics for the SBV staff.
For his part, Mr. Lee Juyeol, BoK Governor said that Korean enterprises investing in Vietnam are growing fast in number, with increasingly stable operations and efficiency. He added that many more Korean enterprises are planning to make investment in Vietnam. The BoK always create favorable conditions for Korean enterprises to invest in Vietnam. Besides, he asserted that the BoK will be willing to share its experience and information with the SBV with regards to the management of the monetary policy and banking operations.
The two sides also stated that successful experiences in reforming the economy in Korea and the BoK are very helpful lessons for Vietnam. In the coming time, the two sides will continue to collaborate closely in the implementation of the KPP, putting high priority on sharing experiences in policy making, management of the monetary policy, fintech development and promoting financial inclusion.
Le Hang