Laos, Vietnam boost bilateral finance and banking sector cooperation
Laos, Vietnam boost bilateral finance and banking sector cooperation
Senior officials from the central banks of Laos and Vietnam met in Vientiane to exchange views on economic development prospects and discuss fiscal policies and macro-economic management.
The conference on bilateral cooperation between the Bank of Lao PDR (BOL) and the State Bank of Vietnam (SBV) was held yesterday, co-chaired by BOL Governor Dr Somphao Phaysith and his Vietnamese counterpart SBV Governor Mr Nguyen Van Binh. At the conference, Dr Somphao reported on recent economic developments and the monetary policy outlook in Laos.
The two parties exchanged their views and lessons learnt on macro-economic developments, monetary policy management, financial institution and commercial bank supervision and the results of bilateral cooperation between the two central banks.
The results of the meeting would be an important step to boost and tighten the special relationship and cooperation between the central banks of the two countries. It would not only strengthen the banking system but also create favourable conditions for trade and investment which would contribute to social economic development in the two countries, according to the BOL.
SBV Governor Nguyen Van Binh highly appreciated the efforts and achievements the Lao government and the BOL have made in economic development, inflation control and financial and banking sector supervision.
He also expressed his willingness to support and share experiences with Laos in the spirit of solidarity and friendship between the two central banks in particular and the two countries in general.
At the end of the conference, the bank governors agreed to continue promoting the good results achieved by the two sides, contributing to the special relationship between the two nations.
The bilateral meeting between the Bank of Lao PDR and the State Bank of Vietnam takes place every year, which Vietnam hosted last year.
