Vietnam, Netherlands share visions on financial policy enforcement

16:16 | 02/06/2017 MUTRAP Corner

The current visit to Vietnam made by the Queen of the Netherlands is an opportunity for both countries to share their strategic vision on the promulgation and enforcement of financial policies, said Deputy Prime Minister Vuong Dinh Hue.

Deputy PM Vuong Dinh Hue receives Queen of the Netherlands Máxima Zorreguieta Cerruti

He made the remark at a reception for Queen Máxima Zorreguieta Cerruti, who is also the UN Secretary-General’s Special Advocate for Inclusive Finance for Development, in Hanoi on June 1.

Praising the significant progress Vietnam has made in poverty alleviation, Queen Máxima noted while holding discussions with different Vietnamese agencies strategic issues related to inclusive finance, with a focus on microcredit policies and assistance towards the growth of small- and medium-sized enterprises (SMEs).

The high rate of mobile phone users in Vietnam is a favourable technological condition for the country to increase its capacity in running the system for low-income and disadvantaged people, she added.

Agreeing with his guest, the Deputy PM said Vietnam has carried out a range of inclusive-finance-related policies in helping farmers, SMEs and students access bank loans.

Vietnam, however, still needs to build a national strategy on inclusive finance, Hue noted.

At the same time, the Deputy PM expressed his concern about the risk that inclusive finance may weaken motivation for working among people and businesses and asked the Netherlands to share its experience on the issue with Vietnam.