Finance Minister expects South Korea to support upgrading IT infrastructure for Vietnam's stock market

(Chinhphu.vn)- On August 12, in Seoul, the delegation of Minister of Finance Nguyen Van Thang met and worked with Deputy Prime Minister and Minister of Economy and Finance of the Republic of Korea Koo Yun Cheol. This is an activity on the sidelines of the State visit of General Secretary To Lam to the Republic of Korea.

The working delegation of Minister of Finance Nguyen Van Thang met and worked with Deputy Prime Minister and Minister of Economy and Finance of Korea Koo Yun Cheol.

At the meeting, the two Ministers expressed their delight at the increasingly comprehensive and profound development of the Vietnam-Korea relationship. Both agreed to continue efforts to promote cooperation, contributing to strengthening the relationship between the two countries in general and between the two Finance Ministries in particular.

Minister Nguyen Van Thang congratulated Mr. Koo Yun Cheol on his appointment as Deputy Prime Minister and Minister of Economy and Finance of Korea in July.

Minister Nguyen Van Thang informed the Korean side about Vietnam's positive macroeconomic growth in recent times, and emphasized the Vietnamese Government 's strong reform efforts to streamline the apparatus, improve operational efficiency and effectiveness, save public resources and create new growth promotion space for localities, keeping up with the trend of international integration.

Minister Nguyen Van Thang affirmed that Korea is a major partner of Vietnam in trade, economy, investment and is the second largest ODA provider to Vietnam in Asia. Korea's ODA projects are assessed to bring practical efficiency, contributing to Vietnam's socio-economic development. Currently, the ODA commitment capital for the 2024-2030 period from Korea reaches 4 billion USD, through the Economic Development Cooperation Fund and the Economic Promotion Fund implemented by the Export-Import Bank of Korea.

The Minister hopes that the two sides will continue to cooperate closely and promote professional exchanges in economic and financial management, especially in lending, aid, securities, digital currency and investment. Vietnam is in need of capital for large-scale, widespread infrastructure projects and wants to cooperate with high-tech countries like South Korea.

On this occasion, Minister Nguyen Van Thang was delighted that the State Securities Commission of Vietnam and the Korean Financial Supervisory Service signed a Memorandum of Understanding on cooperation in the securities sector under the witness of General Secretary To Lam and Korean President Lee Jae Myung. This agreement is expected to contribute to connecting capital markets and expanding opportunities for investors of the two countries.

Minister Nguyen Van Thang also expects Korea to support upgrading information technology infrastructure for the Vietnamese stock market, and coordinate in technical support, human resource training and technology infrastructure development.

Minister Nguyen Van Thang also expects Korea to support upgrading information technology infrastructure for the Vietnamese stock market, while also coordinating in technical support, human resource training and technology infrastructure development.

On the Korean side, Deputy Prime Minister Koo Yun Cheol highly appreciated Vietnam's efforts in creating favorable conditions for Korean businesses and banks to invest and cooperate. Mr. Koo Yun Cheol said that large-scale infrastructure projects are important to Vietnam's socio-economic development and Korea is ready to participate.

Deputy Prime Minister Koo Yun Cheol believes that under the leadership of the Party and State of Vietnam, the Vietnamese economy will continue to develop strongly.

During the meeting, Chairwoman of the State Securities Commission Vu Thi Chan Phuong also expressed her gratitude to the Ministry of Economy and Finance of Korea and the Financial Supervisory Service of Korea for their support in the process of building and developing the Vietnamese stock market. Ms. Phuong hopes to continue receiving support in training, management and market supervision.

At the end of the meeting, the two sides agreed to maintain bilateral dialogue between the two Finance Ministries and work together to achieve the highest cooperation efficiency. The two Ministers also expect to meet again in October 2025, when Korea hosts the 2025 APEC Finance Ministers' Meeting.

Over the years, bilateral trade between Vietnam and Korea has grown strongly. In 2024, the turnover reached 81.5 billion USD, making Korea the third largest export market and the second largest import market of Vietnam. Korea is also the second largest bilateral ODA donor in Asia for Vietnam. The Ministry of Economy and Finance of Korea is responsible for state management of financial policy, budget, planning, general economic policy; implementing medium and long-term growth strategies; and is also the focal point for approving ODA limits and policies, and loans from the Korean Government to Vietnam.

Mr. Minh

Source: https://baochinhphu.vn/minister-of-finance-expects-han-quoc-to-support-nang-cap-ha-tang-cntt-cho-thi-truong-chung-khoan-viet-nam-102250812233620511.htm