Vietnam's financial market institution to be finalised
The Vietnam Ministry of Finance (MoF) has asked its Japanese counterpart to help Vietnam finalise its financial market institution, increase the capacity, and develop human resources.
MoF Minister Dinh Tien Dung made the proposal during talks in Tokyo with Japanese Deputy Prime Minister and Finance Minister Taro Aso during his visit from March 3-7.
Dung expressed his appreciation for Japan’s role as the biggest ODA donor to Vietnam, saying Japan has committed more than US$21 billion in ODA since 1993, contributing to the country’s socio-economic development.
He said the two finance ministries have cooperated well in such fields as customs, security, state-owned enterprise restructuring, human resource training, and technical equipment aid, particularly in the implementation of the Vietnam Automated Cargo and Port Consolidated System and the Vietnam Customs Information System (VNACCS/VCIS).
Dung spoke highly of Japan’s role in the ASEAN + 3 multilateral cooperation mechanism, especially its direct support to member countries, including Vietnam, through the Japan-ASEAN Financial Technical Assistance Fund (JAFTA), to support its bond market development.
He invited Taro Aso to visit Vietnam and attend the inauguration ceremony of the VNACCS/VCIS system scheduled for April 2014.
After talks, the ministers witnessed the signing of a letter of intent for exchange and cooperation between the Chairman of the Japan Financial Services Agency and the Chairman of the State Securities Commission of Vietnam.
Minister Dinh Tien Dung also held talks with Shigeru Kiyama, Vice President of the Japan International Cooperation Agency (JICA).
He suggested Japan increase official development assistance (ODA) quota for Vietnam, and consider Vietnam’s proposals to deal with its ODA loans under the Special Terms for Economic Partnership (STEP).
In response, Shigeru Kiyama affirmed that JICA will continue to work closely with the Vietnamese Government to successfully implement their joint projects in the future.
Dung and Kiyama witnessed the signing of a loan agreement, worth JPY25 billion, for a Support Programme to Respond to Climate Change in Vietnam (SPRCC) and the First Economic Management and Competitiveness (EMCC).
