On the afternoon of November 26, 2019 at the headquarters of the State Bank of Vietnam (SBV), Governor Le Minh Hung had a meeting with Mr. Denis Ivanov, Chairman of the Management Board of the International Bank for Economic Co-operation (IBEC).
Welcoming Chairman Denis Ivanov and the IBEC delegation to visit and work with the SBV on the occasion of 134th IBEC’s Council Meeting organized in Vietnam, Governor Le Minh Hung expressed his pleasure for the SBV to host the most important event of the IBEC this year and hoped that the Council Meeting would be a success with proper decisions and directions made, which would be the basis for the reform of the IBEC’s operations in the future.
Governor Le Minh Hung welcomes Chairman Denis Ivanov and the IBEC delegation
The Governor also wished that the IBEC Economic Forum organized by the SBV and the IBEC on November 27, 2019 would also be successful. He said that this was a practically meaningful activity, creating opportunities for establishing further relations, seeking opportunities for enhancing the cooperation, as well as helping to promote the image and position of the IBEC in the business community in Vietnam. He spoke highly of and encouraged the IBEC to continue to maintain and expand these activities in the member countries.
According to Governor Le Minh Hung, as the representative of the Government of Vietnam at the IBEC and the IIB, the SBV always closely monitors the situations and operations of the IBEC. Governor Le Minh Hung asserted that Vietnam, as a responsible member of the IBEC, would always accompany and support the IBEC Management Board for the more effective development of the IBEC.
For his part, Mr. Denis Ivanov, Chairman of the IBEC Management Board, expressed his thanks to Governor Le Minh Hung for his hospitality, and praised the support from the Government of Vietnam with the SBV as its representative, and the active participation and the important role of the SBV in the process of policy and decision-making of the IBEC. About the performance of the IBEC, Mr. Ivan Ivanov said that since the end of 2017, the IBEC has been actively implementing comprehensive reform measures to improve the IBEC’s operational quality in line with the international practices. As a result, the IBEC has achieved some initial remarkable results. About the operations of the IBEC in Vietnam, he said that the IBEC has established a cooperative relationship with a number of Vietnamese commercial banks, such as BIDV, Vietcombank, Agribank, SHB, HD Bank,... At the same time, a number of loans have been provided as commercial support resources, providing the services related to LC issuance in order to support the import transactions of commodities into Vietnam, implementing activities to support the export and import of Vietnam..
Mr. Denis Ivanov, Chairman of the IBEC Management Board speaks at the meeting
At the meeting, the two sides also discussed the contents related to the IBEC's reform activities, the enhancement of resources and operations of the IBEC, the operational expansion in the member countries. Accordingly, based on its experience and strengths, the IBEC should pursue its orientations to focus on priority areas such as trade finance, credit and payments for import and export activities of the enterprises in the member countries, in parallel with continuing to promote the basic operations and implementing the comprehensive reforms to create ground and conditions to expand the operations. This development orientation should be reflected in the IBEC's 2021-2025 Strategy.
The two sides also discussed the formulation of the IBEC’s country strategy for Vietnam, which sets out the basis and objectives for further enhancing the cooperative relations between the IBEC and Vietnam, as well as extending the operational scope and the locations of the IBEC and the IIB in Vietnam in particular and in Asia in general.
Le Hang