Deputy Governor Nguyen Phuoc Thanh of the State Bank of Vietnam (SBV) had a meeting with Mr. Lee SangKoo, Vice President of Financial Supervisory Service (FSS) of South Korea, in Hanoi on October 29.
Moreover, he emphasized the strategic partnership and the positive results of cooperative relation between Vietnam and South Korea, of which the cooperation in the field of finance and banking between the two countries has been further strengthened and developed. As the soonest foreign banks presented in Vietnam, South Korean credit institutions have contributed to the development of the banking industry in Vietnam in particular and the enhancement of trade and commerce relation between the two countries in general.
Reviewing the cooperative results between the SBV and FSS over the past time, Deputy Governor Nguyen Phuoc Thanh highly appreciated Memorandum of Understanding about sharing information on banking supervision and inspection in 2013 that created the basis for FSS to open its representative office in Vietnam. From the date of signing cooperative documents up to now, the SBV and FSS have exchanged a lot of information and experience in banking inspection and supervision; several working delegations have been exchanged with focus on financial and banking inspection and supervision. FSS Office in Vietnam has also conducted many activities and positively cooperated to develop the relation between the two countries in the field of finance and banking.
For his part, Mr. Lee SangKoo congratulated on achievements Vietnam obtained in the process of developing socio-economy, and spoke highly of the initial success of the SBV in restructuring the banking sector and resolving NPLs. He also express his pleasure at the development and effective operations of South Korean Credit institutions in Vietnam, meeting capital demand of enterprises and supporting enterprises to expand production, thereby contributing to the socio-economic development in Vietnam. On this occasion, Mr. Lee SangKoo expressed his sincere thanks to Vietnamese Government and the SBV for supporting the development of South Korean credit institutions in Vietnam, and hoped that these credit institutions would further expand their investment and cooperate with Vietnamese enterprises and commercial banks.
Regarding to the cooperation with the SBV, Mr. Lee SangKoo recommended the SBV and FSS enhance bilateral dialogues, establish periodically exchanging mechanism to strengthen the cooperative relation between Vietnam and South Korea in the field of finance and banking. He committed that FSS would support, share experience and accompany with the SBV in the process of development, renovation and modernization of the banking sector.
TLH