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- Strengthening effectively mobilization,
coordination and use of external resources: In
2015, the effective foreign fund mobilization,
coordination and use have been energetically
and dynamically implemented by the Ministry of
Finance. The Development partners/international
donors have supported and assisted the Ministry
of Finance in its reform of public finance and
modernization of financial sector: State Budget
revenue and expenditure management, State
owned enterprise reform and restructuring,
financial market governance and supervision,
administrative reform for tax and customs, public
asset management, macro economic analysis
and forecast, capacity building for the Ministry
of Finance’s staff, implementation of the works
in the Financial Sector Development Strategy
to 2020, etc. The support and cooperation have
been deployed through the signed, implemented
programs and projects, and the consultant advices
of technical assistance activities. At the same time
the Development partners/international donors
have committed continuing supports to the
Ministry of Finance to accelerate reforms through
new programs and projects, namely: AAA
program (funded by the WB); Tax Administration
Reform Program (funded by the WB), Green
Finance (funded by the GIZ); EMCC (co-funded
by the WB, ADB, JICA, SECO …); State owned
enterprise governance reform program (funded
by the ADB), Tax administration reform (funded
by JICA); Public asset management (funded
by DFAT); VNACCS/VCIS system upgrading
and effective utilization improvement project
(funded by JICA); Improving competitiveness
for financial sector (funded by LUX); State
governance for inclusive growth project;
Financial policy formulation capacity building
(funded by Canadian government)... These
supports and cooperation results were and are
laying down steadily foundation for the economy
reform and restructuring process, financial sector
modernization, financial institution and policy
perfection, administrative procedural reform,
Viet Nam’s financial governmental employee
capacity building to meet requirements and cope
with challenges of the country’s renewal and
integration.
Enhancing policy dialogue and experience
Regional financial cooperation is a focus of
international financial cooperation strategy, from
which to construct a bridge spanning Viet Nam
and individual countries in the region, advancing
toward establishment of a sustainable and
effective financial cooperation mechanism with
international financial institutions in the long run.
In the APEC, EAS and G20 cooperation, though
those are large playing fields of big partners, Viet
Nam is also participating zealously, rising its
voice, sharing opinions and learning international
experiences in its concerned issues, at the same
time taking opportunities of these multilateral
fora to consolidate relationships and resolve
bilateral matters actively and effectively.
Increasing external resource mobilization;
assuring maximum use of financial resources,
technical assistance and international experience
for the purpose of socio-economic development
in general and the country’s financial sector in
particular
- Within the framework of the Asia Bond
Market Initiative (ABMI) the ASEAN+3 Credit
Guarantee and Investment Fund (CGIF) has
successfully undertaken a corporate bond
issuance of Masan Consumer Holdings in Viet
Nam market on 5/12/2014. The Masan’s bond
issuance was with total value of VND2.1 trillions
(equivalent to US$100 million), tenure of 10 year
and fixed interest rate of 8%/year. The successful
completion of the first corporate bond issuance
in Viet Nam market is a hallmark of CGIF to
continue its guarantee operation in the future
which contributes to depressurization for the
State Budget.
- Within the framework of the ASEAN
cooperation, the ASEAN Infrastructure Fund
established in 2012 has since then come into
operation to provide loans and finance to the
infrastructureprojects, including theAIFapproved
Ho Chi Minh – Ha Noi power transmission line
project with total value of US$100 millions. The
ASEAN infrastructure financing mechanism
has initially showed efficiency in financing and
met capital need of Viet Nam, conforming to
the ASEAN financial cooperation objectives as
contributing to mobilization of resources from
regional cooperation for the country economic
development.
