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the Memorandum of Understanding (MOU)
between Vietnam and Australia, Hungary in 2017
to promote cooperation with strategic partners.
A Memorandum of Understanding between
the Ministry of Finance and the Ministry of
National Economy of Hungary was signed on
September 25th 2017 in Hanoi. On October 20th
2017, the MOU between 2017 and 2016 between
the Ministry of Finance of Vietnam and the
Ministry of Treasury of Australia was signed in
Quang Nam on the sidelines of the APEC 2017
Finance Ministers Meeting. The content of the
MOU focuses on the areas of financial market
reform, public debt management, financial and
macroeconomic analysis, forecasting, policy and
budget management. Through the cooperation in
sharing, exchanging and learning experiences of
other countries, the MOU will serve as a basis for
Vietnam to promote structural reforms and policy
reforms to develop financial markets in the future.
On cooperation in ASEAN
In the area of finance, Vietnam has been
involved in the formation of the ASEAN
Economic Community (AEC) on strengthening
regional macroeconomic and financial stability;
commitment to open markets, including trade
in goods and services trade (financial services,
insurance and securities); collaborate and
connect capital market development, insurance,
tax, customs, and infrastructure financing.
ASEAN Policy Dialogue aims to strengthen
regional macroeconomic and financial stability:
ASEAN countries maintain a mechanism
for economic review and policy dialogue
in the Finance Ministers ‘Meeting and the
ASEAN Finance Ministers’ Meeting Governor
of the ASEAN Central Bank annually. In it,
Ministers and Governors discuss and share
views on regional and world macroeconomic
developments, economic prospects and policy
measures to reduce the potential risks, whichmay
influent on macroeconomic growth and stability
of the region. International institutions such as
the World Bank, the International Monetary
Fund and the Asian Development Bank joined
this mechanism to assess risks and risks to the
regional macro economy. At the Ministerial
Meeting and Governor in March 2016, Ministers
canceling the regulation on insurance companies
(insurance companies) are not paid insurance
commission for insurance agents in case of
bidding, supplement the principle of approval
of registration of insurance products, to amend
the provisions on the regulation of revenue
accounting principle in the case of receipt and
transfer of reinsurance premiums between
insurers and insurance brokers, regulations on
establishment and activities of the Supervisory
Board of solvency and regulations on disclosure
of information, according to which, within the
first 15 days of each month, foreign insurance
enterprises and branches must announced the
insurance products are allowed to deploy in the
last month adjacent...
More room for international cooperation
The strategy on overall international
integration to 2020 with a vision to 2030 was
approved by the Prime Minister in Decision
No. 40/TTg dated January 7th 2016. In the
passing days, Vietnam has step by step opened
the economy, connecting the domestic market
with the regional economy and market through
the establishment of bilateral finance, trade
and investment relations and participating in
multilateral institutions.
Regarding the cooperation channels, there
are still plenty of room for financial markets in
Vietnam to boost cooperation in the fields of
bilateral cooperation, regional cooperation and
multilateral cooperation.
On bilateral cooperation
The Ministry of Finance of Vietnam signed
TOTAL LIQUIDITY & DEPOSITS WITH CREDIT INSTITUTIONS
Source: The State Bank of Vietnam
