Vietnamese Finance Ministry and the UK Department of Foreign Affairssigned a memorandum of understanding (MoU) on financial cooperation inHanoi on Feb. 27.
The MoU covers five areas –public debt management, public-private partnership in public investment,financial policies and markets (including stock, insurance and bond),macro-economic stabilisation and national credit rating.
The MoU also plans for exchange of delegations, symposiums, short-termtraining courses, information sharing and joint reports onmacro-economy, thus improving the quality of policies and capacity ofthe Vietnamese Finance Ministry’s staff regarding public financialmanagement.
Under the MoU, which will be valid for three years, the two sides agreed to establish annual plans of action.
Addressing the signing ceremony, Vietnamese Finance Minister VuongDinh Hue said the MoU marks a milestone in financial cooperation betweenthe two countries while tightening ties between the Vietnamese FinanceMinistry and the Department of Foreign Affairs and the Treasury of theUK .
Vietnam commits to soon adopt a concrete plan of action to materialise the MoU, Hue said.
UK Ambassador to Vietnam Antony Stokes expressed his hopes thatapart from the financial sector, Vietnam and UK will expandcooperation in other fields.
Over the past time, theVietnamese Finance Ministry received support from the UK Department forInternational Development (DFID) in public financial management througha number of projects./.