On May 7, 2019 at the headquarters of the State Bank of Vietnam (SBV), Deputy Governor Nguyen Kim Anh had a meeting with Mr. Timothy Geithner, President of Warburg Pincus LLC.
Also attending the meeting was Mr. Jonathan Finer, Senior Vice President of Political Risk and Public Policy at Warburg Pincus LLC. On the SBV’s side, there were representatives from the Payment Department, the Monetary Policy Department, the International Cooperation Department, the Banking Supervision Agency, etc.
At the meeting, Deputy Governor Nguyen Kim Anh welcomed Mr. Timothy Geithner and his delegation to visit and work with the SBV. He briefed the guests of Vietnam’s macro-economic situations in general and the orientations for the development of the banking sector and the payment services in the new context. The Deputy Governor shared that the SBV would continue to monitor closely the macro-economic developments and the fluctuations in the international and domestic financial markets in order to manage the monetary policies in an active, flexible and prudent manner in combination with the fiscal policy and other macro economic policies with a view to controlling the inflation in line with the set-out target for 2019, maintaining the macro-economic stability, supporting the economic growth at an appropriate level, stabilizing the money and forex market.
The SBV Deputy Governor also emphasized that, in the coming time, the SBV will focus on developing the legal framework and necessary mechanisms, promulgating regulations for managing the markets, creating a facilitating environment for commercial banks and intermediary payment service providers to innovate and apply the technological achievements of the Industry 4.0 to banking operations and payment services, thereby helping them diversify their products, services and facilities.
For his part, Mr.Timothy Geithner spoke highly of Vietnam’s dynamic growth in the recent years on the basis of socio-political stability. He shared that Warburg Pincus LLC has been investing in Techcombank and Momo e-wallet, and has obtained remarkable results. He expressed his thanks to the SBV Deputy Governor and the leaders of the SBV entities for taking the time to welcome the delegation and for having supported Warburg Pincus LLC over the past time. He also believed that, in the coming time, Warburg Pincus LLC will continue to make effective investments in Vietnam, in going along with the development of the banking sector.
Le Hang