Enhance cooperation with Laos in finance

10:15 | 15/02/2017 Finance Follow english.haiquanonline.com.vn on

VCN - Minister Dinh Tien Dung had a working session with Deputy Prime Minister - Minister of Finance of the Lao People's Democratic Republic, Somdy Douangdy about financial cooperation between two countries

tang cuong hop tac voi lao trong linh vuc tai chinh

Minister Đinh Tien Dung welcome Deputy Prime Minister of Laos to visit and work at Ministry of Finance.

At the meeting, Minister Dinh Tien Dung welcomed the Deputy Prime Minister - Minister of Finance of Laos PDR, Mr. Somdy Douangdy who visited and worked with the Ministry of Finance of Vietnam. Sharing with Deputy Prime Minister of the Lao PDR on the difficulties as well as the achievements of socio-economic development of the two countries, Minister Dinh Tien Dung said that both Vietnam and Laos have made many attempts to complete the financial task of 2016 in the context of economics in the world and region facing many difficulties and challenges.

Minister Dung offered congratulations on the economic & financial achievements of Laos PDR with a growth rate of 6.9% and GDP reached $US 2,027 in 2016; basically the macroeconomics are stable, keeping the inflation rate at 1.35%. Thus, Minister Dinh Tien Dung believed that in 2017, Laos PDR will continue to achieve significant accomplishments in order to maintain and achieve high growth.

Mr. Somdy Douangdy thanked Minister Dinh Tien Dung and units under the Ministry have spent time to meet and exchange views on cooperation in the financial sector between the two countries.

Having the same views with Minister Dinh Tien Dung, Deputy Prime Minister of Lao PDR, Mr Somdy Douangdy said that in 2016 the Ministries of Finance of both countries cooperated effectively, especially exchanging experiences, building legislation , training to improve staff capacity and building infrastructure. Through the co-operation between the two countries, it has contributed to improve the quality of staff in the financial sector in Laos, contributing to strengthen the sustainable cooperation between the two countries.

Furthermore, Minister Dung said that, in the context of deep international integration, the domestic economy and region still have difficulties in that the demand for expenditure of the two countries are very large, especially expenditure for construction, infrastructure and social welfare. The Government and the Ministries of Finance of both countries should further tighten public expenses. Besides that, strengthening the financial discipline associated with the responsibilities of ministries and local government.

Minister Dung affirmed that the Ministry of Finance of Vietnam is ready to work closely with the Ministry of Finance of Lao PDR in all fields, especially in advanced training for professional capacity, improving the efficiency in management and budget operations, to serve the economic development of the country.

In the afternoon of the same day, Deputy Minister Tran Xuan Ha had a meeting and working session with Mrs. Cecilia Piccioni, Ambassador Extraordinary and Plenipotentiary of the Republic of Italy in Vietnam and Mr. Martino Melli, Director of the Development Cooperation Agency at the Italian Embassy in Vietnam. Deputy Minister Tran Xuan Ha said that this is a good opportunity for both sides to discuss issues of common concern on the development of bilateral cooperation between Vietnam and Italy in recent years, as well as exchanges and answering difficulties on the progress of programs and projects that the two sides have signed, are made and are negotiating, thereby further promoting the good relations between the two governments in general and in the field of financial cooperation in particular

Deputy Minister Tran Xuan Ha appreciated the relationship between the Government and the Ministry of Finance of the two countries in recent years, which is demonstrated by the activities, and specific cooperation programs of the two parties. For some projects funded by Italian government aid being deployed in Vietnam, Deputy Minister Tran Xuan Ha informed the delegation about progress, as well as offering solutions to suit conditions of Vietnam law, which aims to remove difficulties and problems in the process of implementing such development projects of small and medium enterprises to enhance their competitiveness in domestic and foreign markets, and training project for job creation; Water sector program funded through the balance of payments support to the Ministry of Finance; Debt Conversion Agreement for development; (Strengthening the forecasting system, flood warning in Vietnam - Phase II); collection system and wastewater treatment Tay Ninh Town, Tay Ninh Province; and Improving the quality of health services at the University of Medicine Hue pharmaceutical and some central provinces.

Speaking at the meeting, the Ambassador of Italy Cecilia Piccioni thanked Deputy Minister Tran Xuan Ha for spending time with the delegation, as well as exchanging opinions frankly and measures to remove obstacles to some projects deployed in recent years. Ambassador Cecilia Piccioni affirmed that the Italian government is ready to cooperate, provide technical assistance and create favorable conditions for Vietnam to implement the project in the shortest time. Cecilia Piccioni also expressed confidence with cooperation relations between two countries will become closer.

By Thùy Linh/Thanh Thuy

Tags:

finance economy Laos co-operation sustainable cooperation expenditure construction infrastructure

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