VN, RoK step up finance cooperation

VGP – Viet Nam’s Ministry of Finance (MoF) and the Republic of Korea’s Ministry of Strategy and Finance signed a Memorandum of Understanding (MoU) on Finance Cooperation in 2013.

January 12, 2013 3:07 PM GMT+7

The signing ceremony of a Memorandum of Understanding on finance cooperation between the Finance Ministries of Viet Nam and the Republic of Korea, Ha Noi, Jan. 11, 2013 - Photo: VGP

The cooperation will cover public finance, tax, customs, national reserves, the stock market, insurance and financial markets.

It will also focus on sharing experiences in restructuring State-owned-businesses, managing national reserves, supervising the financial market, training human resources, evaluating the implementation of investment and State export credit policies and completing State’s regulations in this field.

Minister Bahk Jae Wan highly valued Viet Nam’s macro-economic achievements and affirmed that in the future, the RoK will strengthen cooperation in trade and finance with Viet Nam, especially pushing up the negotiation on a Free Trade Agreement.

The MoF is cooperating with relevant agencies for the establishment of a representative office of the RoK’s Financial Supervisory Office in Viet Nam, revealed Minister Vuong Dinh Hue.

He asserted that Viet Nam will create favorable conditions for Korean businesses to do business in Viet Nam and expected that the RoK will increase its indirect investment in Viet Nam in the future.

By Thuy Dung