Finance Minister meets OECD Secretary-General and IMF Deputy Manager

Vietnamese Minister of Finance (MoF) Dinh Tien Dung, Chairman of the APEC 2017 Finance Ministers’ Meeting (FMM) hosted a reception for the Secretary-General of the Organisation for Economic Cooperation and Development (OECD) Angel Gurria on the fringes of the meeting in the central province of Quang Nam, on October 20.

At the meeting between Finance Minister Dinh Tien Dung and OECD Secretary-General Angel Gurria.
At the meeting between Finance Minister Dinh Tien Dung and OECD Secretary-General Angel Gurria.

Speaking at the reception, Minister Dung expressed his gratitude for OECD’s participation in the activities within the framework of FMM hosted by the MoF.

The minister spoke highly of the assistance provided to Vietnam by the OECD experts, especially in base erosion and profit shifting (BEPS) and long-term investment in infrastructure, as well as OECD’s technical assistance in taxation.

Minister Dung added that Vietnam is striving to approach OECD’s standards in improving its market economy institutions in order to enhance the competitiveness of the economy.

The Ministry of Finance is expected to receive more support from the OECD in implementing their cooperation in prioritised areas on the basis of mutual interests.

For his part, Gurria said that he is willing to assist Vietnam in preparing for and chairing the events within the framework of the APEC 2017 Finance Ministers’ Process (FMP).

OECD is working closely with the MoF in implementing the prioritised topics of Vietnam’s interests in the APEC 2017, such as action programmes to prevent BEPS initiated by the OECD, whilst providing technical support and experts, as well as sharing experience in related areas.

Also on October 20, Finance Minister Dinh Tien Dung held a meeting with Mitsuhiro Furusawa, Deputy Manager of the International Monetary Fund (IMF).

Minister Dung praised the IMF’s role in making regular review on Vietnam’s macro-economy and reform process, especially in giving comments on the country’s fiscal policy and the stabilisation of the financial system.

He thanked the IMF for supporting Vietnam’s economic growth through credit programmes and technical support, especially in tax policy and tax administrative management.

In the future, Vietnam hopes to continue receiving the IMF’s support in fiscal stability, budget management, public debt settlement and State-owned enterprise reform, personnel training, he said.

Mitsuhiro Furusawa highly value the cooperation between the ministry and the lender over the past years, affirming that the institution will continue fostering collaboration in professional issues of shared concern and sharing its experience in prioritised matters that Vietnam has proposed during the FMM.

The same day, Minister Dinh Tien Dung also met with David Malpass, Under-Secretary for International Affairs at the US Department of the Treasury.

The two sides discussed cooperative relations between the two countries, including cooperation in the fields of tax, insurance, securities, capital market, accounting and auditing.

Malpass said that the US Department of the Treasury will further boost cooperation with Vietnamese Ministry of Finance for mutual benefit and development.