Vietnam’s increasing role in financial dialogues

After its plenary session, the National Financial Supervisory Council held a press briefing to announce the adoption of a joint statement, including a number of recommendations from the host country.

The Council’s Chairman Vu Viet Ngoan said that this was the first time Vietnam hosted such a financial conference with the participation of more than 400 delegates who focused their discussions on financial reform.

Ngoan said that Vietnam learned a lot of experience from other others, such as Japan, the Republic of Korea (RoK), Thailand, and EU in dealing with the financial crisis and settling bad debts. Accordingly, the country will focus on building a financial safety mechanism and improving macro policies based on sound market forecast and analysis, he said.

He also stressed the need to settle bad debts as soon as possible.