He hailed the effective cooperation between Vietnam and the IMF, noting with satisfaction the outcomes of the delegation’s working session with local relevant agencies.

He kept his guests updated on Communist Party of Vietnam’s guidelines and policies on growth model reform, labor productivity and competitiveness promotion, international economic integration, and ensuring political and social stability amid the country’s participation in new-generation free trade agreements.

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Chairman of the Party Central Committee’s Commission on Economic Affairs Nguyen Van Binh (R) meets Alex Moumouras, who led the IMF delegation, on March 30.
For 2016-2020, Vietnam will press ahead with comprehensive and intensive reforms, make breakthroughs in mechanisms, policies and steering methods, and capitalize on people’s and businesses’ creativity. Macro-economic stability will be kept to serve as the foundation for sustainable growth. The country will promote the private sector’s development while attracting foreign investment selectively to drive sustainable economic growth.

Binh also emphasized the need for Vietnam to continue banking restructuring in association with settling non-performing loans, controlling public debt, managing exchange rates, and using fiscal policy tools in an appropriate manner to ensure the stability and effectiveness of Vietnam’s banking system.

At the meeting, Alex Moumouras, who led the IMF delegation, briefed his host about the assessments they shared with local ministries and sectors. The IMF experts spoke of the economy’s improvements, particularly those on macro-economy, inflation, interest rates and exchange rates, and the business climate.

The two sides also discussed challenges facing the country in ensuring economic growth rate and quality and minimizing global markets’ negative impacts on Vietnam, he added.

He voiced his support for the fiscal policy reforms and continued restructuring of banks and enterprises in Vietnam, adding that the IMF will maintain the close cooperation with and effective assistance to the country.

Source: VNA