Financial market reform in economic restructuring strategy

That was the topic of the international conference jointly organized by the Party Central Economic Committee, National Financial Supervisory Commission and The Embassy of Ireland in Vietnam on the morning of 14 October 2013 at Melia Hotel, Hanoi.

Attending the conference were more than 200 leading economic experts, researchers, policy planners from the Party Central Economic Committee, National Financial Supervisory Commission (NFSC), The State Bank of Vietnam, State Securities Commission of Vietnam, Commercial Banks, Universities and Institutes. The VNU-UEB research team of bank restructuring,  led by Assoc.Pro.Dr. Nguyen Hong Son – Rector, has contributed a presentation at the conference according to requirement of the organizer.

After the welcome speeches of  Mr. Damien Cole - The Embassy of Ireland in Vietnam and Dr. Nguyen Van Thach - Deputy Minister of the Party Central Economic Committee and the opening report of Dr. Vu Viet Ngoan - President of NFSC, some other reports were presented by national and international senior professionals such as former Deputy Prime Minister Vu Khoan, Mr. Conn English - economic expert, Ireland Central Bank, Dr. Vo Tri Thanh, Deputy Director of the Central Institute for Economic Management (CIEM), Dr. Truong Van Phuoc - Vice Chairman of NFSC.

Presentations focused on (i) sharing experience of European countries in reforming financial markets after global financial crisis from 2007 to 2008, (ii) analyzing experience of Vietnam  joining WTO in macroeconomic management and (iii) some basic contents of the financial reform process in Vietnam.

Dr. Tran Thi Thanh Tu presented result of the research at the conference

Dr. Tran Thi Thanh Tu - Associate Dean of Finance and Banking Department on behalf of the VNU-UEB research team, presented results of the research on "Restructuring commercial banking system in Vietnam: achievements and looking forward".  According to the team, process of restructuring banking system of Vietnam has get some achievements in which the banking system has made positive changes, however, it still concentrates on big banks or strong banking group. Weak banks, which are the easiest to be damaged, haven’t been much more change than before restructuring. The basic schedules which are set out in Project of restructuring of credit institutions by the State Bank of Vietnam shall have been made, although bad debt in the system was reduced, it is still high and transparency is also weak. Difficulties and main challenges of restructuring the banking system at the moment focus on: (i)   historical obstacles abundances (ii) resources limitations, (iii)  macroeconomic vulnerability  and (iv) incompatibility among bank restructuring and public investment and  SOEs restructuring. Also, the team has proposed some recommendations to promote effectively restructuring of the bank.

The opinions and speeches at the conference in discussion sector were funky, frankly, multidimensional from seniors: Dr. Cao Sy Kiem - Ex Governor of the State Bank of Vietnam, Dr. Nguyen Duc Kien - former Vice President of The National Assembly of the Socialist Republic of Vietnam, Dr. Vu Viet Ngoan - President of NFSC, Dr. Can Van Luc, Dr. Le Duc Thuy – Ex Chairman of NFSC etc. ...

In conclusion, Dr. Bui Van Thach, Deputy Head of the Party Central Economic Committee confirmed results, the discussion contents at the  conference is highly valuable consultation for the Communist Party of Vietnam, Vietnam Government in the process of restructuring of the economy in general and restructuring of financial market in particular.
Participation and presentation at the conference has contributed to affirming the position of VNU-UEB in large scientific forums and specializing in banking and finance, also strengthen and reinforce scientific cooperation between VNU-UEB with state management agencies, policy makers, the top academics in the field of banking and finance.

>> Click here for the news in Vietnamese.

Thanh Tu - Thanh Thuy

FullName Email
Address Security code OHCYXB

Get the Flash Player to see this player.