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Vietnam, S. Korea share experience in economic management, financial supervision

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Vietnam, S. Korea share experience in economic management, financial supervision

Post  lexie on Fri Dec 16, 2011 12:15 pm

December 16, 2011

Vietnam, S. Korea share experience in economic management, financial supervision

Vietnamese Minister of Finance (MOF) Vuong Dinh Hue met here on Friday with visiting Governor of South Korean Financial Supervisory Service (FSS) Kwon Hyouk-Se, for exchange of experience in economic management and financial supervision.

Vietnam wants South Korea to share its experience in supervisory work and human resources training, management and supervisory work of the investment funds, training MOF staff in management skills and stock exchange management, said the MOF official.

Vietnam also wants to learn from South Korea experience in restructuring Vietnamese stock companies and stock exchanges, and is ready to sign with South Korea documents on regulations of supervision in insurance, as well as provide favorable conditions for South Korean companies working in Vietnam, said MOF minister.

Vietnam is ready to support South Korea in approaching the Vietnamese financial market and cooperate in supervisory work, Hue confirmed.

The FSS governor spoke highly of Vietnam's economic potentials, saying the bilateral relations and cooperation between Vietnam and South Korea have developed in all fields, especially in economics.

The two countries should further enhance all-sided cooperation and businesses from both sides and exchange information to build closer cooperative ties, he said.

The two officials agreed to co-organize seminars in Vietnam to share experience in coping with the global economic crisis, stock exchange, fund management and financial market in the coming time.

The FSS was founded in 1999, after the 1997 Asian financial crisis. It works as a supervisor to the South Korean Financial Services Commission (FSC) and mainly does the checks-up at financial institutions and implements the enforcement and other kinds of supervisory work charged upon the FSC's regulations and guidelines.


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Re: Vietnam, S. Korea share experience in economic management, financial supervision

Post  warvet91 on Fri Dec 16, 2011 1:59 pm

Somewhat mixed feelings about this one ... Though it may seem to help vietnam economically with the help of South Korea, I am skeptical with this partnership due to the fact that vietnam has no real resources and is banked by china. But the possibilities for a new avenue of investing could be a good thing, if you know what to look for as the world markets reset from a glib economy. This will be interesting to see how it is played through in time ...
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