Comprehensive financial system crucial in boosting sustainable development

NDO/ VNA – Minister of Labour, Invalids and Social Affairs Dao Ngoc Dung has highlighted the need for a national strategy on an inclusive financial system to promote sustainable socio-economic development in Vietnam.

Minister of Labour, Invalids and Social Affairs Dao Ngoc Dung (R) and Queen of the Netherlands Máxima Zorreguieta Cerruti (Photo: VNA)
Minister of Labour, Invalids and Social Affairs Dao Ngoc Dung (R) and Queen of the Netherlands Máxima Zorreguieta Cerruti (Photo: VNA)

He made the statement at a working session with the Queen of the Netherlands Maxima Zorreguieta Cerruti, who is also the UN Secretary-General’s Special Advocate for Inclusive Finance for Development, in Hanoi on June 1.

He said that Vietnam has achieved significant achievements in poverty reduction thanks to the implementation of policies on social welfare, micro-financial development, and rural-agricultural credits.

However, he also noted that a remarkable proportion of locals have not yet been able to gain official access to financial and banking services, especially those in remote areas.

Minister Dung said that in September his ministry will chair a high-level dialogue to discuss policy on women and the economy in the central province of Thua Thien-Hue as part of the APEC Year 2017.

He invited the Queen to participate in the event, which will make valuable contributions to the country’s efforts in narrowing the gender gap in the digital world.

Queen Maxima congratulated Vietnam on its accomplishments in poverty reduction and socio-economic development during the course of the past 30 years.

She agreed that the construction of a national strategy on inclusive finance is important in order to boost the country’s sustainable development.

In the context of globalization and international integration, the United Nation has shown an interest in promoting the implementation of inclusive financial policies within it’s member nations to ensure that vulnerable groups will receive the necessary support to overcome financial difficulties, she added.

The Queen said she is willing to share experiences and cooperate with Vietnam in this field.