|Deputy Prime Minister Vuong Dinh Hue (R) welcomes Alex Mourmouras, head of the IMF delegation
At a reception for IMF’s “Article IV consultations” delegation in Hanoi on April 12, Hue assured Vietnam's readiness to work hand in hand to ensure macro-economic stability, speed up economic restructuring, improve the business and investment climate, and promote global economic integration.
The Vietnamese Government attributes great importance to the transparency of economic policies for a purpose of consolidating confidence of investors and enterprises towards stabilizing the macro-economy, Hue said.
In that spirit, the Government will order relevant ministries and branches to closely work with the IMF, hoping that IMF will give more support in training and policy consultancy to them, Hue emphasized.
Alex Mourmouras, head of the IMF delegation, said the Vietnamese Government showed its commitment to stabilizing the macro-economy and developing the private sector as a driver of economic development.
Therefore, the Vietnamese economy has shown resilience and good growth with the inflation kept in check at a low rate in the context of growing trade tension and global financial fluctuations, he said.
The State Bank of Vietnam (SBV) is implementing the restructuring of commercial banks and credit operation while working to ensure growth. State budget deficit and public debt saw a sharp downward trend over the past three years which indicated that Government policies are on the right track to make Vietnam become a real market economy.
He cited increasing trade conflicts in the globe, together with unsteady macro stability, cyber security risks, and slow administrative reforms, as hindrances to Vietnam in 2019.
The delegation suggested the Government continue enhancing the role of the private sector, and intensify commercial banks’ capacity in the time to come.