Deputy Governor Nguyen Thi Hong of the State Bank of Vietnam (SBV) had a meeting with Ms. Susan Sutton, U.S. Deputy Chief of Mission in Vietnam, in Hanoi on December 10.
At the meeting, Deputy Governor Nguyen Thi Hong congratulated Ms. Susan Sutton on her new assignment as U.S. Deputy Chief of Mission in Vietnam, and expressed her belief that U.S. Deputy Chief of Mission Susan Sutton will continue playing an important role in enhancing the cooperative relation between Vietnam and the U.S.
Moreover, the SBV Deputy Governor emphasized that the year of 2015 is of great importance for marking 20th anniversary of the normalization of diplomatic relations between the U.S. and Vietnam. Over the past 20 years, the relation between Vietnam and the U.S. has been increasingly developing and obtaining many encouraging results. Especially, in July, 2013, Vietnam and the U.S. officially established strategic partner relationship, marking a new period of comprehensive cooperation in various fields.
She also stated that, under the multilateral cooperation framework, the SBV has coordinated with relevant ministries and agencies to complete the negotiation of the Trans-Pacific Partnership (TPP). The signing of TPP will bring many opportunities for commerce, investment, development of production and services in Vietnam, especially in the banking sector. Currently, the SBV is coordinating with relevant ministries and agencies to negotiate substances related to the requirements of FATCA.
She said that apart from the efforts of the Government of the two countries, commercial banks of the U.S. and Vietnam have strengthened their presence and extended operations. Several U.S. commercial banks, namely Citibank, JP Morgan Chase, Well Fargo, have contributed to the development of the banking industry in Vietnam while Vietnamese commercial banks have had agent and payment relation with the U.S. large banks. The enhancement of the presence of commercial banks in each side has created the channel for payment, thereby meeting the demand for banking services from investors, remarkably contributing to promoting trade and investment in the two countries.
In addition, Deputy Governor Nguyen Thi Hong briefed the guest of macro-economic situations, monetary policy management and the restructuring of the banking sector in 2015; the orientations on monetary policy of the SBV in 2016.
For her part, U.S. Deputy Chief of Mission Susan Sutton expressed her pleasure at the good cooperation in various fields between the two countries as well as among the SBV and U.S enterprises and commercial banks operating in Vietnam. She congratulated on encouraging results the SBV has obtained in 2015 in monetary policy management, banking operations and the restructuring of credit institutions…At the same time, she asserted that she will do her best to actively contribute to enhancing the strategic partnership relation between the two countries in various fields.
TLH