On June 23, 2020 at the headquarters of the State Bank of Vietnam (SBV), Governor Le Minh Hung of the State Bank of Vietnam (SBV) had meetings with and presented the Commemorative Medals for Contributions to the Development of Vietnam’s Banking Sector to Mr. Ousmane Dione, WB Country Director in Vietnam, and Mr. Eric Sidgwick, ADB Country Director in Vietnam.
Also attending the meetings were Deputy Governor Nguyen Kim Anh, representatives of several SBV’s Departments, i.e. the International Cooperation Department, the Monetary Policy Department, the Foreign Exchange Management Department, the Banking Supervision Agency, the SBV Office and the Department of Emulation and Reward.
The Commemorative Medals for Contributions to the Development of Vietnam’s Banking Sector are the acknowledgement of significant achievements and contributions of the two Country Directors to the establishment and development of the cooperative relations between the WB/ADB and the SBV, thereby helping to enhance the partnerships between Vietnam and the WB/ADB.
At the meeting with Mr. Ousmane Dione, WB Country Director in Vietnam, Governor Le Minh Hung thanked and congratulated Mr. Ousmane Dione on his successful tenure for over four years in Vietnam. The SBV Governor said that the strategic partnership between Vietnam and the WB has been developed robustly, thanked to the great contributions of Mr. Ousmane Dione and his colleagues in Vietnam.
Governor Le Minh Hung speaks at the meeting
In thanking for the cooperation and support of the SBV Governor and other SBV staff over the years, Mr. Ousmane Dione expressed his pleasure at Vietnam’s graduation from the preferential IDA loans without experiencing any risks, and its emergence as an upper middle-income country. According to Mr. Ousmane Dione, Vietnam has made great progress in improving its Business Environment Ranking and Index, the Human Development Index, the inflation control, the macro-economic and money market stabilization, etc. He also stated that in the coming time, Vietnam needs to accelerate the digitalization and further improve the operational efficiency of the state institutions. He asserted that the WB will always support Vietnam in the process of development, so that Vietnam could improve its position in the world and share its experience with other countries.
Mr. Ousmane Dione, WB Country Director in Vietnam, speaks at the meeting
He also expressed his sincere thanks to the SBV for having organized the Ceremony to award the Commemorative Medal for Contributions to the Development of Vietnam’s Banking Sector to him on the position of the WB Country Director in Vietnam, and to his colleague the ADB Country Director in Vietnam. This reflected the good partnerships and the cooperative relations between the international organizations and the international financial institutions in the process of development of a country.
At the meeting with Mr. Eric Sidgwick, ADB Country Director in Vietnam, Governor Le Minh Hung thanked the ADB and Mr. Eric Sidgwick personally for having made great efforts during his working term in Vietnam to contribute by giving numerous policy advice and recommendations to the SBV, other ministries and agencies. The Governor also wished that Mr. Eric Sidgwick would continue to be a close friend of Vietnam in general and the SBV in particular, and the ADB would further strengthen its cooperation activities with Vietnam, ensuring the provision of the best means in terms of both finance and policy consultancy to the SBV.
Mr. Eric Sidgwick, ADB Country Director in Vietnam, speaks at the meeting
The ADB Country Director in Vietnam shared that during his working term, he had witnessed the close cooperation between the ADB and Vietnam. He also expressed his impressions with the affection and enthusiasm of Vietnam. He asserted that the ADB would be willing to provide support in terms of both finance and technical assistance to the SBV and the Government of Vietnam. Mr. Eric Sidgwick said that early next year, the ADB would build a new Country Partnership Strategy to match with the new context in Vietnam. The ADB will consider in detail appropriate strategies and financing mechanisms to support Vietnam. In addition, the ADB will support the Government of Vietnam through financing for important infrastructure projects; mobilizing more non-refundable grants and common loans for Vietnam; using ADB funds to attract private finance and other technical assistance resources.
Governor Le Minh Hung and Deputy Governor Nguyen Kim Anh taking photos with the counterparts
In sharing further at the Ceremony, Mr. Eric Sidgwick noted that it was a very special event when at the same time, the SBV awarded the Commemorative Medals for Contributions to the Development of Vietnam’s Banking Sector to both WB Country Director and ADB Country Director in Vietnam. He affirmed: “This is not only my personal honor but also a recognition for the ADB’s contributions, as well as contributions from foreign friends, development partners, including the WB, to the financial sector in Vietnam”. According to Mr. Eric Sidgwick, Vietnam is currently in a new chapter of development, and the ADB wishes to spread Vietnam's good experience and achievements to other ADB member countries.
Le Hang