SBV Governor Nguyen Van Binh (R) talks with IMF Managing Director Christine Lagarde (Source: State Bank of Vietnam)
Hanoi (VNA) – Vietnam is comprehensively switching to a market economy and considers this the guiding principle of steering the economy, Governor of the State Bank of Vietnam (SBV) Nguyen Van Binh told International Monetary Fund (IMF) Managing Director Christine Lagarde.

At their meeting in Hanoi on March 16, Binh said that this is an important point in the documents issued by the Vietnamese Party and Government.

He highly valued the IMF’s assistance to Vietnam along with its support and policy advice. In particular, the assessment and advice of the IMF on the 2014 Article IV consultation have greatly contributed to the country’s success in monetary policies and bank restructuring, which in turn has helped stablise the macro-economy and ensure public social welfares.

He stressed that the next five years are very important to Vietnam as achievements during this period will create a firm foundation for growth and sustainable development in the future.

Hence, the Southeast Asian nation wants to receive more technical assistance, training and policy advice from the IMF.

Christine Lagarde spoke highly of the resolve and policy direction of the Vietnamese Government and the SBV to maintain macro-economic stability, monetary and banking market stability and an optimal business climate.

She added that the IMF will further support Vietnam through providing policy advice, training and technical assistance for Government agencies and the SBV, and help the nation connect to and share experience with other IMF member countries that have similar economic features.-VNA