The Hanoitimes - The 2011 Vietnam Finance Conference and Exhibition themed "Restructuring national finance: policy challenges, and linking and integrating tendency" opened in Hanoi.
The Hanoitimes - The 2011 Vietnam Finance Conference and Exhibition themed "Restructuring national finance: policy challenges, and linking and integrating tendency" opened in Hanoi .
The annual event was jointly held by the Ministry of Finance (MoF) and the International Data Group (IDG Vietnam).
The financial sector has developed rapidly in recent years. The completed legal system and financial policies have helped create a sound and transparent national financial system. However, the sector still poses some limitations, including an unstable financial market, a high budget deficit, and low efficiency and competitiveness.
In the financial roadmap for the 2011-2020 period, national finance plans will focus on some important pillars including effectively mobilising financial resources to serve the country’s socio-economic development, rationally allocating and using these resources and comprehensively developing the financial market and services.
The capacity of controlling the financial status should also be enhanced to keep government, national and public debts under safe limits. It is also important to gradually reduce overspending to only 4.5 percent in 2015 and to accelerate administrative reform in the sector.
Speaking at the conference, MoF Minister Vuong Dinh Hue stressed that in the new period of development, the Vietnamese financial sector needs to be restructured to ensure financial security, stability in the monetary market and fast and sustainable economic development.
He also said the conference provides a good chance for participants to discuss major issues and draws useful experiences to restructure the national financial sector.