Deputy Prime Minister Le Minh Khai (R) receives General Manager of the Bank for International Settlements (BIS) Agustin Carstens in Hanoi. (Photo: VNA)
Hanoi (VNA)𝄹– Deputy Prime Minister Le Minh Khai received General Managerof the Bank for International Settlements (BIS) Agustin Carstens in Hanoi on September 22.
At the reception, Khai highly appreciated BIS’s innovative activities through theestablishment of innovation hubs with significant, effective projects. He said the State Bankof Vietnam (SBV) has been actively participating in projects of the BIS InnovationHub which helps improve the efficiency of state management and supervision ofhigh-tech financial banking operations, ensuring national and internationalfinancial and monetary stability.
Deputy Prime Minister Le Minh Khai (right) and General Manager of the Bank for International Settlements (BIS) Agustin Carstens. (Photo: VNA)
Vietnam hopes that BISwill pay attention to and continue to deploy forums and initiatives in Vietnam tofurther tighten the relationship between the two sides, and help Vietnamimprove the efficiency of banking system management, Khai said. For his part, Carstens said that BIS is an international monetary and financial institutionthat is considered the "bank of central banks" and now has 63 members. BIS's offer to the SBV tobecome its official member affirmed that BIS highly appreciated Vietnam'sposition, he said, adding that its members are countries that can makeimportant contributions to the global finance and economy. Sharing the pillars ofBIS's operations, Carstens emphasised that dialogue and cooperation amongmembers help increase trust, thereby making faster decisions related to financeand banking. As Vietnam is a new BISmember, the country’s participation in those activities is important, he stressed. The general manager hoped that the SBV willparticipate more and more actively in BIS's activities. According to the general manager, from 2020 until now, fluctuations all over the world provedthe important role of central banks, especially in responding to risinginflation. This is the first time high inflation has occurred simultaneously in many countries and central banks have taken "collective actions" torespond. He highly appreciated theactions of Vietnam, particularly the SBV in fighting inflation, andensuring the health of the Vietnamese economy. Carstens affirmed those are thefoundation for Vietnam's economy to soon return to a high growth trajectory. Hesaid that the cooperation between BIS and the SBV in providing banking servicesis fruitful, including foreign exchange reserves./.
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The Bank for International Settlements (BIS) will continue to accompany and support the State Bank of Vietnam (SBV) in investing in payment and financial infrastructure development and promoting digital transformation, contributing to improving risk management in the local banking sector, stated BIS General Manager Agustin Carstens.
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Deputy Prime Minister Le Minh Khai (R) receives General Manager of the Bank for International Settlements (BIS) Agustin Carstens in Hanoi. (Photo: VNA) 
Deputy Prime Minister Le Minh Khai (right) and General Manager of the Bank for International Settlements (BIS) Agustin Carstens. (Photo: VNA) 
