Financial officials of Vietnam and the Republic of Korea (RoK)discussed their countries’ policies on dealing with the global financialcrisis and attracting foreign investment.
The officials’ meetingformed part of a Vietnam-RoK policy dialogue programme, jointlyorganised by the Vietnamese Finance Ministry and the RoK Finance andStrategy Ministry.
In the storm of the global financial crisis in2009, the Vietnamese Government deployed economic stimulus packages andgenerous financial and monetary policies as well as measures to ensuresocial welfare for its people, said Pham Van Ha from the FinanceMinistry’s Policy Consultancy Group.
To deal with the post-crisisperiod, Vietnam is working to economise its spending to reduce thebudget deficit, allocate stimulus funds to the construction ofinfrastructure, and keep prices of strategic commodities unchanged tostabilise the price generally, Ha said.
In addition, the countrywill enhance the transparency of its financial market by completing theestablishment of a real estate market as soon as possible and increasingthe provision of information on the securities market, the officialshared with other participants.
Meanwhile, Head of the ForeignInvestment Management Agency of the Ministry of Planning and InvestmentDo Nhat Hoang unveiled the Vietnamese target of mobilising a totalinvestment of 300 billion USD, with 33 percent of which coming fromforeign investment in the 2011-2015 period.
Dr. Joo-Kyung Kimfrom the RoK Development Institute said his country is currentlydeploying a policy that seeks to monitor the liquidity of foreigncurrencies, axe bank interest rates, launch stimulus packages in a broadscope, increase support of small and medium-sized businesses, andstrengthen banks.
He said his country drew a lesson from theglobal financial crisis that underscored the need to apply policies tocontrol capital, manage foreign exchange reserve and cooperatefinancially with regional countries./.
The officials’ meetingformed part of a Vietnam-RoK policy dialogue programme, jointlyorganised by the Vietnamese Finance Ministry and the RoK Finance andStrategy Ministry.
In the storm of the global financial crisis in2009, the Vietnamese Government deployed economic stimulus packages andgenerous financial and monetary policies as well as measures to ensuresocial welfare for its people, said Pham Van Ha from the FinanceMinistry’s Policy Consultancy Group.
To deal with the post-crisisperiod, Vietnam is working to economise its spending to reduce thebudget deficit, allocate stimulus funds to the construction ofinfrastructure, and keep prices of strategic commodities unchanged tostabilise the price generally, Ha said.
In addition, the countrywill enhance the transparency of its financial market by completing theestablishment of a real estate market as soon as possible and increasingthe provision of information on the securities market, the officialshared with other participants.
Meanwhile, Head of the ForeignInvestment Management Agency of the Ministry of Planning and InvestmentDo Nhat Hoang unveiled the Vietnamese target of mobilising a totalinvestment of 300 billion USD, with 33 percent of which coming fromforeign investment in the 2011-2015 period.
Dr. Joo-Kyung Kimfrom the RoK Development Institute said his country is currentlydeploying a policy that seeks to monitor the liquidity of foreigncurrencies, axe bank interest rates, launch stimulus packages in a broadscope, increase support of small and medium-sized businesses, andstrengthen banks.
He said his country drew a lesson from theglobal financial crisis that underscored the need to apply policies tocontrol capital, manage foreign exchange reserve and cooperatefinancially with regional countries./.
