The Governor of the State Bank of Vietnam (SBV) Le Minh Hung had a meeting with Ms Victoria Kwakwa, Vice President for the East Asia and Pacific of World Bank (WB) at the SBV headquarter on April 27th, 2016.
The meeting was attended by Mr Kyle Kelhofer, International Finance Cooperation (IFC) Country Director for Vietnam, Laos and Cambodia; Ms Karin Finkelston, Vice President and Chief Operating Officer of the Multilateral Investment Guarantee Agency (MIGA) and representatives from International Cooperation Department of SBV.
WB Vice President Victoria Kwakwa appreciated the success of cooperative relationship between WB and Vietnam. Concurrently, she also provided a number of important recommendations on SBV’s policies and proposed several contents of cooperation between WB and SBV as well as pointed out priority sectors that are in need of assistance from the WB.
Governor Le Minh Hung congratulated Ms Victoria Kwakwa for being appointed as Vice President of WB for the East Asia and Pacific. Governor Le Minh Hung highly valued the cooperation relationship between WB and Vietnam in general and between WB and SBV in particular, especially WB’s active support for SBV over the past time. He stated that the leaders of the Communist Party of Vietnam (CPV) and Government of Vietnam acknowledge WB’s valuable reports and recommendations for Vietnam to obtain the objectives of poverty reduction and socio- economic development.
The Governor said, over the past 5 years, the SBV had obtained many positive results in monetary policy management, particularly the exchange rate scheme, NPL resolution and restructure of credit institutions. Governor stated that the next period of 2016– 2020 could be especially important for the cause of Vietnam development to fulfill several ambitious targets set by the Party and the State. He committed the SBV will decisively pursue consistent measures and instruments to contribute to inflation controlling and macroeconomic stability, to accelerate supervision for ensuring the soundness and safety of credit institution system, as well as concentrate credit capital on priority sectors including rural agriculture, high technology and export.
In the context of facing complicated movements of the international and domestic economies with numerous difficulties and suffering negative effects from climate change, Vietnam defines creating a solid background of a market economy as the most important objectives. In anticipation of IDA graduation, Governor expressed his wishes to have an appropriate roadmap for graduating that best suits Vietnam condition and reality and looks for the WB’s supporting SBV to overcome this challenge.
On the occasion of the 65th Anniversary of Banking Sector (May 6,1951- May 6, 2016), Governor Le Minh Hung presented WB delegation the commermorative banknote.
Giang Nguyen