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 Vietnam’s PM welcomes Bank of Thailand governor

Vietnam’s PM welcomes Bank of Thailand governor

TUESDAY, August 06, 2019
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Vietnam’s Prime Minister Nguyen Xuan Phuc gave a warm welcome to the Governor of the Bank of Thailand (BoT) Veerathai Santiprabhob in Hanoi yesterday and expressed a desire for stronger ties between the Vietnamese and Thai banking systems while noting with satisfaction that the two sides have signed and implemented many important cooperation documents, an important prerequisite for the upcoming joint cabinet meeting.

He also voiced his belief that the bilateral strategic partnership will develop even more strongly, especially in trade and investment.
Thailand is currently Vietnam’s biggest Asean trade partner, with bilateral trade reaching US$17.3 billion in 2018 and expected to hit $20 billion in 2020. With the registered capital of over $8 billion, it ranks 10th among the 116 countries and territories and third among the Asean nations investing in Vietnam.
Vietnam always makes every effort to support Thai investors, PM Phuc affirmed, noting that the two Governments have also worked hard to protect the legitimate interests of their countries’ investors and businesses.
For his part, Veerathai said bilateral investment and trade links have been flourishing in recent years, and the BoT wishes to actively contribute to these partnerships.
Both sides should foster connections in finance–banking to bolster economic, trade and investment relations, he said, as there is huge potential for cooperation in banking supervision, payment facilitation and cross-border transactions.
Thailand always supports Vietnam’s initiatives within the framework of Asean and bilateral cooperation, including in the finance–banking area, the BoT Governor added.
At the meeting, PM Phuc said Vietnam has gained many socio-economic goals but is still willing to learn from Thailand’s experience, particularly in macro-economic governance and the finance–banking sector. It also wishes to work closely with Thailand to effectively cope with changes in the world.
As the BoT is crucial to businesses, Vietnam will create the best possible conditions for bilateral partnerships, especially the BoT’s cooperation with the State Bank of Vietnam in e-payment, he said, adding that the Thai central bank was an important bridge for the two countries’ strategic partnership in all fields.
Veerathai affirmed the BoT is ready to share its experience and meet cooperation demands for financial connection and other banking services.