SBV Deputy Governor Pham Tien Dzung meets Swiss Ambassador in Vietnam

At the meeting, SBV Deputy Governor Pham Tien Dzung expressed his thanksgratitude to the Ambassador, the Swiss State Secretariat for Economic Affairs (SECO), and all of the Swiss experts and officersstaff from Switzerland who have supported the SBV instaff to the successful implementation of variousmany effective projects over the past years. After participating in the programs facilitatedcooperated with and/or supported by Switzerland, many of the SBV officersstaff haves obtainedgained a lot of knowledge in policy formulation and operation management,; especially in the new areasproblems with for not only Vietnam but also othermany countries in the region, such as fintech, digital technology, blockchain, etc., which are also the areas of great interest for Tthe SBV is very interested in these fields.

Recently, the SBV has submitted a trial mechanism to the Ministry of Justice for consideration of a sandbox mechanism, in which includesthere is a mechanism to the applicationy of new technologiesy, blockchain technology in a number of areasfields. In March 2021, the SBV Governor issued the Banking Sector’s Plan for Digital Transformation of the Banking Sector, which mentionsed the application of new technologies and the IR4.0 achievements of the 4.0 revolution, such as blockchain technology, into handle the banking operations.

The SBV Deputy Governor hoped that the Swiss experts would sharediscuss more about the banking operations in which blockchain technology can be applied to blockchain. Especially, as a state management agency, the SBV wishesd to knowlearn more about what needs to be donethe necessary work to be able in order to applyimplement blockchain technology in the banking operations;. The SBV also at the same time wishes continue to receive furtherthe exchanges and support fromof the Swiss experts as well as from SECO.

Overview of the meeting.

Speaking at the meeting, Mr. Ivo Sieber, Ambassador of Switzerland to Vietnam, thanked the SBV Deputy Governor for his sharing about the challenges and opportunities of the SBV as a management agency, as well as Vietnam’s perspectives regarding blockchain and the possible applications infor the banking industry. The Ambassador of Switzerland to Vietnam affirmed that he wouldto continue to work closely with the SBV and the Ministry of Finance to implement cooperative activitiescarry out work for the sustainability of Vietnam’sthe financial sectorindustry, as well as to conduct training activities for the leaders and managers in the sectoris industry in order to better apply the new technologies, including fintech and blockchain, more effectively. The Ambassador wished that the two sides couldto develop a stronger and more effective partnershipbetter cooperation relationship in this areafield, and furthercontinue to promote the cooperate long-term and in-depthextensive cooperation in the future.

Also at the meeting, Mr. Werner Gruber, Head of Cooperation, Swiss Cooperation Office, Embassy of Switzerland in Vietnam, also shared his perspectives about therelated cooperation issues between Switzerland and Vietnam. He, which emphasized that the two countries had developedhad a close cooperativeon relationship in the areasfield of finance and- banking, with a view to strengthening the supervision as well as the implementation of various training programs. After thatBesides, Mr. Mathias Ruch, Broard Member of the Swiss Blockchain Federation, and CEO of Crypto Valley Venture Capital, sharedaid that, the development of the blockchain ecosystem is currentlywas very strong at this time. Swiss experts understand the needs and challenges of the central banks, and are willing to share their experiences in this area, especially related toin the developmenting of a the required legal frameworks.

SBV Deputy Governor Pham Tien Dzung also highly appreciated the support of the Swiss side within the cooperation framework in the areasfield of banking inspection, supervision, and the training of senior officials, and looked forward to continuing to receivinge more support in the new areas, such as fintech, blockchain, anti-money laundering, etc. from Switzerland in the near future.

LK