Vietnam, Netherlands to share experience on financial policy

16:16 | 02/06/2017 Cooperation

On June 1 in Hanoi, Deputy Prime Minister Vuong Dinh Hue held a reception for Queen Máxima Zorreguieta Cerruti, who is also the UN Secretary-General’s Special Advocate for Inclusive Finance for Development.

vietnam netherlands share visions on financial policy enforcement
Deputy PM Vuong Dinh Hue receives Queen of the Netherlands Máxima Zorreguieta Cerruti - Photo: VGP

At the reception, Deputy Prime Minister Vuong Dinh Hue said 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.

Queen Máxima praised the significant progress Vietnam has made in poverty alleviation and considered it a lesson for other countries in the world. She noted that during her visit, she held 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).

vietnam netherlands share visions on financial policy enforcement
Photo: VGP

According to Queen of the Netherlands, 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.

Agreeing with his guest, Deputy Prime Minister Vuong Dinh Hue said over the recent years, Vietnam has carried out a range of inclusive-finance-related policies in helping farmers, SMEs and students access bank loans.

However, the Deputy PM noted that Vietnam still needs to build a national strategy on inclusive finance.

According to the Deputy PM, implementation of inclusive finance must ensure rules of the market and role of the State.

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.

Mai Huong