On November 23, 2018, at the headquarters of the Bank of the Lao P.D.R. (BOL), Deputy Governor Nguyen Thi Hong of the State Bank of Vietnam (SBV) had a meeting with the Acting Governor Sonexay Sitphaxay of the BOL. Also attending the meeting were representatives of the entities of the two central banks.
At the meeting, Mr. Sonexay Sitphaxay, Acting Governor of the BOL, warmly welcomed the SBV delegation led by Deputy Governor Nguyen Thi Hong to visit and work in Laos.
On behalf of the SBV Board of Management, Deputy Governor Nguyen Thi Hong congratulated Mr. Sonexay Sithphaxay on being appointed as the Acting Governor of the BOL from September 2018, and wished him, in a new position, more successes, favor, and that he would continue to support and promote the implementation of the comprehensive cooperation framework between the two central banks.
An overview of the meeting
The SBV Deputy Governor stated that Vietnam always considers the banking sector as a leading one in implementing and promoting the effective cooperation between Vietnam and Laos. Recently, the Government of Vietnam has instructed the line ministries and agencies to establish working groups to work with the counterparts from Laos on exchanges of experience and cooperation needs between the two countries. In addition, she thanked Mr. Sonexay Sithphaxay for having invited the SBV delegation to participate in the 7th Professional and Cultural Exchange Program between the SBV and the BOL, thereby promoting the cooperative relationship between the two central banks.
The Acting Governor of the BOL highly appreciated the support of the SBV Board of Management through sharing valuable experience in various fields over the past time and affirmed that these missions not only support capacity building for the BOL, but also bring a chance to tighten the friendship and cooperation between the two central banks’ officials. Moreover, he spoke highly of Vietnamese banks’ expansion of operations in Laos. These commercial banks have been acting well as bridges to connect the businesses of the two countries, promote investment, provide credit resources, and disburse funds for the cooperation projects between the two Governments, as well as for large-scale economic projects…
SBV delegation led by Deputy Governor Nguyen Thi Hong takes a photo with the BOL Acting Governor
Deputy Governor Nguyen Thi Hong suggested that the Bank of the Lao P.D.R. continue to cooperate in the fields of inspection and information exchange with the SBV to ensure the safe and sound operations of Vietnamese commercial banks in Laos, thereby contributing to the economic development in the country. She shared the SBV’s hopes that in the near future, the two central banks would continue to have more practical collaborative activities, contributing to tightening the close relationship between the two Governments and the people of the two countries.
Le Hang