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VIETNAM - The project VIE/032 continues supporting to Vietnam’s development of Financial Market Development Strategic Plan 2021-2025
A virtual roundtable on “Vietnam Financial Market Development Strategic Plan 2021-2025, Vision to 2030" drawed attention of almost 50 speakers and advisors, including officials and technical experts representing such strategic economic and financial organisations of Vietnam as Central Institute for Economic Management or Department of Finance and Monetary from Ministry of Planning and Investment, National Institute for Finance and Department of the Insurance Supervisory Authority of Ministry of Finance, State Bank of Vietnam, State Securities Commission, Securities Companies, Insurance Companies, Commercial Banks.
The event took place on 15 June 2021 and jointly organised by the National Financial Supervisory Commission (NFSC) and Project VIE/032 – Capacity Building on Finance Sector on both online and offline platforms. This was to ensure Vietnam government’s required distancing during the heat of Hanoi’s summer and fourth wave of COVID-19.
Mr Hung Xuan PHAM opens the virtural roundtable
The roundtable focused on:
- development model of financial markets in the coming time: bank-based or market-based (focusing on strong capital market development);
- establishment of a Regional Financial Centre in Vietnam;
- orientation and solutions to develop digital economy and digital banking (fintech);
- promotion of fair competition and transparent information on financial market and protection of financial consumers;
- supervision and ensuring of safety and soundness of the financial system.
Mr Kien LE from State Bank of Vietnam on his presentation on national finanancial market supervision standards
Based on opinions, advices and policy recommendations at the roundtable, NFSC would complement and finalise their Report on Strategy and Orientation for Vietnam Financial Market Development that would be submitted to the Prime Minister.
Financial and economic experts discussing protection of financial consumers in Vietnam
Being one of the project’s active stakeholders, in late 2019, NFSC received supports from the project for organising its annual National Financial Report Launching Workshop that was warmly welcomed by national and international financial and economic institutions, donors and press media. Since the 2020 event could not happen due to the global pandemic, NFSC saved this roundtable opportunity to collect and advocate ideas with top technical experts and professionals. Mr Hung Xuan PHAM - General Director of Financial Supervisory Policy Coordination and Research Department of NFSC and his colleagues expressed great appreciation to Luxembourg and LuxDev’s meaningful cooperation and supports so far, not only in organisation of these critical high-expertise events but also in other training and capacity building activities to the NFSC.
Screen recorded 32 online participants attending the Roundtable
The Capacity Building in the Financial Sector – VIE/032 project is co-financed by the Government of Vietnam and the Grand-Duchy of Luxembourg and is implemented by the Vietnamese State Securities Commission and LuxDev, the Luxembourg Developmen Cooperation Agency.
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