The signing ceremony took place on October 14 as part of State President Truong Tan Sang’s visit to Sri Lanka.

The signatories were Minister of Finance Vuong Dinh Hue and Sri Lanka’s Minister of Finance and Planning Sarath Amunugama.

Under the MoU, the two ministries of finance will promote activities and share experiences in public finance management including managing State budgets and capital construction investment projects, as well as expanding global financial cooperation, and managing financial markets.

At the talks on the same day, the two ministers informed each other of the socio-economic situation in their respective countries as well as the Vietnamese Government’s policies and solutions to control inflation, stabilize the macroeconomy, and restructure the national economy by shifting it to a new economic growth model in the near future.

The Sri Lankan Minister of Finance and Planning asked the Vietnam Ministry of Finance to share experiences in areas such as mobilizing and managing foreign direct investment (FDI), reforming State-owned enterprises, devising solutions to cope with the global economic downturn, and seizing opportunities that encourage domestic growth in today’s turbulent economic climate.

Minister of Finance Vuong Dinh Hue has agreed to share his experiences with his Sri Lankan counterpart.

Both sides consented to set up working groups with the aim of developing an effective and practical annual action program.