SBV Deputy Governor Nguyen Thi Hong works with the US-ASEAN Business Council delegation

Deputy Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong had a meeting with the US-ASEAN Business Council delegation led by Mr. Alexander Feldman - President and CEO. US-ASEAN governor is the head of the delegation is having a business trip in Vietnam.

Attending the meeting were a number of senior leaders of US companies and representatives of leaders of some units of the State Bank: Banking Supervision Inspectorate, Payment Department, Monetary Policy Department, Management Department. Foreign Exchange, Department of Legal Affairs, Credit Department, Information Technology Department ...

At the meeting, Mr. Alexander Feldman - US-ASEAN President and CEO said, on the occasion of this visit and working, US-ASEAN expressed its desire to continue to strengthen and develop the cooperation relationship between Vietnam South and the United States through exchanging measures to help Vietnam take advantage of the strengths and resources of the US business community such as financial policy and electronic payment.

Deputy Governor Nguyen Thi Hong informed the delegation about Vietnam's macroeconomic situation in 2018. Accordingly, the Vietnamese Government directed very drastically the ministries and departments to fulfill the targets set by the National Assembly. out

Regarding the results of monetary policy and banking operations management in the year 2018, the SBV has implemented synchronously monetary solutions and banking operations, meeting the objectives set at the beginning of the year, thereby contributing to an important part in controlling inflation, stabilizing macro-economy, supporting reasonable economic growth while ensuring the safety of operation of credit institutions, in particular: In 2018, the State Bank implemented synchronously, flexible monetary policy instruments to stabilize the currency and foreign exchange markets, contributing to controlling inflation at 3.54% and supporting economic growth of 7.08%, the highest in 11 years come back here; The interest rate level remained stable in the context of increasing international market interest rates; Exchange rates and foreign currency markets are stable and smooth;The restructuring of the system of credit institutions associated with the handling of bad debts has been strongly implemented and achieved positive results, in accordance with the schedule, plan, ensuring stability, safety and healthy operation of the Credit institutions. The quality of management and administration of credit institutions has been gradually improved to approach international practices ...

On the basis of the objectives of the National Assembly, the Government and the macroeconomic and monetary assessment, in 2019, the SBV governed the active, flexible, prudent monetary policy, harmonized coordination with the policy. fiscal and other macroeconomic policies to control inflation by an average target of less than 4%; adhering to the domestic and international macroeconomic developments, financial and monetary markets, stabilizing the monetary and foreign exchange markets, controlling the growth of total payment and credit facilities according to the set orientations. Continue to implement and closely monitor the restructuring of credit institutions associated with bad debt handling; Perfecting legal corridors, mechanisms and policies for non-cash payment development ...

Thanks to Deputy Governor Nguyen Thi Hong for her brief but comprehensive overview of the economic situation of Vietnam as well as banking activities, said Mr. Alexander Feldman, US-ASEAN Business Council. impressed by the stability of Vietnam's macro economy, glad to see the positive progress in dealing with bad debts of the system of Vietnamese credit institutions as well as the process of building a deep bond market. than.

According to Mr. Alexander Feldman, the payment system is extremely important, the core and key factor for us to implement the digital economy development strategy. "With relevant contents such as e-commerce, e-government, e-tax ... US businesses are very interested in these contents, hoping to continue to cooperate with the SBV in the future. and Vietnamese authorities, said Alexander Feldman.

Also at the meeting, representatives of US businesses such as Citibank, GE, MasterCard, MetLife ... all expressed their gratitude to the SBV as well as ministries and agencies over the past time to create conditions for businesses to operate. effective in Vietnam and at the same time desires to continue closer cooperation with Vietnamese organizations and enterprises in the coming time.

Recognizing the positive comments of US businesses for the Government of Vietnam as well as the State Bank, the Deputy Governor affirmed that Vietnam is a stable macroeconomic country and a reliable location for the Vietnamese enterprises. businesses trust to invest.

Reportedly, US-ASEAN is a non-profit organization based in Washington DC, representing about 160 member groups with global business activities, mainly operating in diverse economic sectors and having America's most influential. Every year, US-ASEAN organizes high-class business delegations of US companies to visit Southeast Asian countries.

Source: STATE BANK OF VIETNAM