Finance Minister Vuong Dinh Hue and Governor of the Republic of Korea (RoK) Financial Supervisory Service (FSS) Kwon Hyouk-Se met in Hanoi on December 16, to share experience in economic management and financial supervision.
At the meeting, Minister Hue expressed his wish that the RoK side will share experience in training human resources, managing and supervising investment funds and restructuring securities companies as well as the Vietnamese securities market.
He also said he hoped that the RoK Government and businesses will invest more in Vietnam’s infrastructure.
Vietnam is ready to exchange and sign regulations on the supervision and inspection of the insurance sector, as well as create favourable conditions for RoK businesses to operate in the country, Hue said.
Vietnam is willing to support the RoK side in accessing its financial market and boost coordination in supervision work, he added.
For his part, the FSS governor spoke highly of Vietnam’s economic potential and said that the two countries have expanded cooperation in various areas, especially the economic field.
According to Kwon Hyouk-Se, the two countries should strengthen comprehensive development cooperation in many fields and their businesses should increase exchanges, to create closer cooperative relations.
At the meeting, the two sides agreed to organise a joint seminar to share experience in dealing with the economic crisis and developing the financial market in Vietnam.
Established in 1999, the RoK’s FSS serves as a supervisor for the Financial Supervisory Commission (FSC) that inspects financial organisations and implements supervision and enforcement activities.