Sunday 04 December 2022 - 12:04:29 am

Vietnam bolstering financial cooperation with Germany


BERLIN, 13th July, 2022 (WAM) -- A working delegation of the Ministry of Finance of Vietnam led by Minister Ho Duc Phoc is paying a working visit to Germany with the aim of exchanging experience in public finance management towards green growth, and boosting bilateral cooperation in finance.

According to the Vietnam News Agency (VNA), Phoc worked with leaders of Germany's Federal Ministry of Finance (BMF), Federal Ministry for Economic Cooperation and Development (BMZ), Federal Ministry for Economic Affairs and Climate Action (BMWK), German Development Bank (KfW), and German Agency for International Cooperation (GIZ).

During their working sessions with BMZ Minister Svenja Schulze, BMWK Minister of State Patrick Graichen, and BMF Minister of State Luise Holscher, Phoc informed the hosts of Vietnam's macro-economy in the context of the COVID-19 pandemic, as well as its ways to overcome the pandemic to stabilise and develop its economy.

He emphasised that the leadership of the Party, State and Government, together with the right policies in response to the pandemic as well as the support of the international community, including the German Government and people (with more than 10 million doses of vaccines), has helped Vietnam overcome the pandemic and soon recover its economic growth.

Regarding the sustainable development policy towards green growth, Minister Phoc said that the Vietnamese Government has exerted efforts to seek effective solutions to carry out activities serving energy transition, climate change response and development of solar energy projects.

He proposed the two sides boost cooperation in financial and fiscal policies to promote carbon emission reduction, and share experience in developing the capital market, the green bond market, and experience in institution and policy improvement to support businesses to shift to green production in order to fulfill commitments at the 26th UN Climate Change Conference (COP26).

The German ministries’ leaders appreciated Vietnam's economic achievements as well as the country's efforts to build clean energy development policies and plans, and to join hands in the global climate change response task.

Germany also hopes to continue accompanying, cooperating with and supporting Vietnam in its efforts to achieve the energy transition goal, perfect technological infrastructure for macroeconomic development and green growth, they said.

WAM/Esraa Ismail