Harambe: Vietnam PM meets with IMF Managing Director in Indonesia | Vietnam+ (9/4/23)
Prime Minister Pham Minh Chinh met with Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva on the sidelines of the 43rd ASEAN Summit and Related Meetings in Jakarta, Indonesia, on September 4.
Georgieva highlighted the Association of Southeast Asian Nations (ASEAN)’s and Vietnam’s positive economic growth, which, she said, has significantly contributed to spurring the sustainable growth of the global economy.
For his part, Chinh thanked the IMF and the Managing Director for their support to Vietnam in consultancy and policy making, helping the country stabilise the macro-economy and finance-monetary sector, and recover the national economy.
Lauding the fund’s role in promoting economic recovery after the COVID-19 pandemic and setting forth major orientations to remove difficulties and challenges, the PM said Vietnam stays ready to work together with the IMF to implement the agenda, focusing on the three pillars of stabilising the macro economy, supporting vulnerable countries and spurring growth.
Regarding the global economic situation, Georgieva pointed to a range of difficulties and challenges, which have also affected Vietnam.
Chinh also noted that the world economy is being impacted by many factors, including the lingering effects of the COVID-19 pandemic, the conflict in Ukraine, monetary tightening by many economies, supply – demand decline, and production and business stagnation.
To overcome the current difficulties and challenges, the PM and IMF Managing Directoragreed on the need for comprehensive solutions to ensure peace and stability.
They emphasised the importance of strengthening international solidarity, promoting multilateralism and continuing to boost international integration.
They shared the view that countries need to join hands to find new drivers for growth including green growth, circular economy, and sharing economy as well as the need to mobilse resources to expand production and business, create more jobs, promote innovation and start-ups, and not to politicise economic and scientific and technological issues.
The two sides agreed to strengthen the signing and negotiation of free trade agreements, remove trade barriers to facilitate the global circulation of goods; handle issues peacefully and cooperatively; promote the mobilisation of resources for development through public-private partnership.
The PM emphasised that in the context of complex global economic developments and potential risks, Vietnam will continue to implement the above mentioned groups of solutions to maintain macroeconomic stability, control inflation, maintain growth momentum, ensure major balances of the economy, and control public debt.
Vietnam will continue to implement flexible and effective monetary policy and fiscal policy with key focuses, promote both domestic and foreign investment, especially investment from the state sector. Vietnam will also coordinate and call on major economic hubs including ASEAN, to join hands in implementing the solutions.
The IMF Managing Director said that in the coming time, the IMF will continue to have solutions to help member economies increase their resilience against future shocks.
In the current trend of fragmentation in the world economy, the IMF hope that ASEAN in general and Vietnam in particular, on the basis of economic growth achievements,will promote its role in connecting economies and have a stronger voice in promoting global cooperation.
Chinh affirmed that Vietnam is ready to join hands with the IMF to implement measures to promote economic recovery.
Vietnam hopes that the IMF will continue to support Vietnam in policy consulting and making, technical support so that Vietnam can achieve its set development goals.
On this occasion, Chinh invited Georgieva to visit Vietnam soon and the latter happily accepted the invitation.
Harambe: Vietnam, Indonesia eye comprehensive strategic partnership | Vietnam+ (9/4/23)
Both leaders spoke highly of the positive development in the strategic partnership between Vietnam and Indonesian since their meeting in Labuan Bajo in May.
They affirmed that the two countries will step up all-level delegation exchanges in the time ahead, setting milestones for the 10th anniversary of the strategic partnership in 2023 and looking towards the 70th founding anniversary of the bilateral diplomatic relations and the 80th anniversary of Vietnam’s National Day and Indonesia’s Independence Day in 2025.
The two sides agreed to effectively optimise bilateral cooperation mechanisms and coordinate to well implement signed agreements, including bringing the signed document on maritime cooperation into effect soon, creating momentum to elevate the strategic partnership to a new height, towards a comprehensive strategic partnership in the near future.
PM Chinh suggested the two countries maintain their trade ties in a more balanced way, striving to raise the bilateral trade revenue to 15 billion USD by 2028, and suggested the two governments encourage businesses of the two countries to increase investment, especially in such new areas as digital economy, green economy, energy transition and e-vehicle ecosystem development.
He also called on Indonesia ease the application of trade remedy measures against Vietnamese goods, thus facilitating the access of farm produce and Halal products originating from Vietnam to the Indonesian market.
The two countries should cooperate in new, strategic supply chains and enhance cooperation in the areas in which both sides are interested, he said.
The PM suggested Indonesia recognise Vietnam’s efforts in monitoring the operations of fishing boats, and minimising illegal, unreported, and unregulated (IUU) fishing activities.
President Widodo welcomed PM Chinh to Indonesia to attend the 43rd ASEAN Summit and related meetings.
He thanked and highly appreciated Vietnam’s support for and active assistance to Indonesia’s ASEAN Chairmanship in 2023.
President Widodo welcomed Vietnamese businesses, including VinFast, to invest in Indonesia and promote cooperation in the development of renewable energy and electric vehicle ecosystem.
The President suggested the two countries strengthen marine cooperation, and sustainable fishery cooperation and soon sign a Memorandum of Understanding on fishery cooperation.
Talking about regional and international issues, PM Chinh affirmed that Vietnam supports and works closely with Indonesia to ensure the success of the 43rd ASEAN Summit and the ASEAN Chairmanship Year 2023, contributing to strengthening solidarity, unity, and centrality of ASEAN and maintaining peace, stability, cooperation, and common development in the region.
Regarding the East Sea issue, the two leaders reaffirmed their support for maintaining ASEAN’s solidarity and agreed principles in the East Sea issue, especially the early finalisation of an effective Code of Conduct in the East Sea (COC) between ASEAN and China
In line with international law and the 1982 United Nations Convention on the Law of the Sea (UNCLOS). PM Chinh conveyed the invitations of Party General Secretary Nguyen Phu Trong and President Vo Van Thuong to President Widodo to visit Vietnam soon. President Widodo accepted the invitations with pleasure.
Harambe: Vietnam central bank governor earns ‘A+’ in Global Finance report – VnExpress (9/4/23)
Hong, 55, is one of only three central bank governors in the world that was rated A+ by the U.S.-based magazine.
The other two were the Reserve Bank of India Governor Shaktikanta Das and Thomas J Jordan, Chairman of the Governing Board of the Swiss National Bank.
Hong became Governor of the State Bank of Vietnam (SBV), appointed by the legislative National Assembly, in November 2020.
She holds a master’s degree in Developmental Economics and started working at SBV in 1991, where she held several management positions.
The Central Banker Report Cards, published annually by Global Finance since 1994, grade the central bank governors of 101 key countries, territories, and districts, including the European Union, the Eastern Caribbean Central Bank, the Bank of Central African States, and the Central Bank of West African States.
Grades are based on a scale from A to F for success in inflation control, economic growth goals, currency stability and interest rate management, with an “A” representing an excellent performance down through an “F” for outright failure, according to a Global Finance press release.
The full Central Banker Report Cards 2023 report and grade list will appear in Global Finance’s October issue print editions, as well as online at GFMag.com.
“Fighting inflation, which has been fueled by pent-up demand and disrupted supply chains, has everyone turning to their central bankers for help,” said Global Finance founder and editorial director Joseph Giarraputo.
Governors that earned an A grade included Brazil’s Roberto Campos Neto, Israel’s Amir Yaron, Harvesh Kumar Seegolam of Mauritius, New Zealand’s Adrian Orr, Paraguay’s Jose Cantero Sienra, Julio Velarde of Peru, Chin-Long Yang of Taiwan, and Uruguay’s Diego Labat.