Vientiane, Laos – Within the framework of the program of professional, cultural and sports exchanges between Vietnam and Laos on August 16-17, 2024, Acting Governor Vathana Dalaroy of the Bank of the Lao P.D.R. (BOL) had a meeting with First Deputy Governor Dao Minh Tu of the State Bank of Vietnam (SBV).
BOL Acting Governor Vathana Dalaloy meets SBV First Deputy Governor Dao Minh Tu
At the meeting, BOL Acting Governor Vathana Dalaloy thanked SBV First Deputy Governor Dao Minh Tu for taking the time to attend the annual program of professional, cultural and sports exchanges between the two central banks. Acting Governor Vathana Dalaloy also thanked Deputy Governor Dao Minh Tu in particular and the SBV in general for having supported the BOL through the annual technical training and assistance programs over the past time.
Acting Governor Vathana Dalaloy went on to inform the guests about the macroeconomic developments of the Lao P.D.R., and the recent reforms of the Lao Government with the goal of building the resilience of its economy, which had achieved a number of positive changes, especially in the macroeconomic management.
Also at the meeting, Deputy Governor Dao Minh Tu affirmed that the challenges in the macroeconomic management experienced by the Lao Government over the past time are common challenges for the economies like Vietnam and Laos. Facing those difficulties, it is necessary to implement management solutions in a synchronous and flexible manner. The SBV Deputy Governor went on to congratulate the BOL for the recent establishment of the new Foreign Exchange Management Department. This is one of the important solutions for the Lao Government to enhance the foreign exchange market management.
Participants at the meeting
The SBV Deputy Governor also highly complimented the positive results in the bilateral cooperation between two nations over the past time, especially the project on cross-border QR-code payment and the workshop on local currency promotion between Lao P.D.R. and Vietnam.
Toward the end of the meeting, both sides continued to discuss about the issues of Lao’s concern, including the inflation control and the exchange rate management. Deputy Governor Tu reaffirmed that Vietnam is always willing to support the Lao P.D.R. as already directed by General Secretary/State President To Lam in his official visit to the Lao P.D.R. under the invitation of the State President of the Lao P.D.R. on July 11-13, 2024.
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