Viet Nam – Japan Bilateral Financial Dialogue 2023
On December 19th 2023, the Ministry of Finance Vietnam and the Ministry of Finance Japan jointly organized the Vietnam-Japan Bilateral Financial Dialogue 2023. The Dialogue was co-chaired by Mr. Pham Tuan Anh, Deputy Director General of the International Cooperation Department from the Ministry of Finance Vietnam, and Mr. Akihiro Tsuchiya, Deputy Director General of the International Bureau from the Ministry of Finance Japan. Participants included representatives from relevant departments of both Ministries of Finance. This was the second time the Dialogue was held (the first being in November 2021) following the agreement by both parties to organize this event annually.
The dialogue took place in the context of significant advancements in the cooperative relationship between Vietnam and Japan as of 2023, such as the 50th anniversary of establishing diplomatic relations between Vietnam and Japan; state-level visits, high-level leadership visits, department exchanges, and people-to-people exchanges between Vietnam and Japan; and notably, the event that upgraded the bilateral relationship to a "Comprehensive Strategic Partnership for Peace and Prosperity in Asia and the World" during the recent visit of President Vo Van Thuong to Japan.
At the beginning of the dialogue, Mr. Akihiro Tsuchiya, Deputy Director General of the International Bureau, Ministry of Finance Japan, expressed his pleasure in co-chairing the dialogue and appreciated the efforts of both sides in preparing for this online meeting. Mr. Pham Tuan Anh, Deputy Director General of the International Cooperation Department, Ministry of Finance Vietnam, thanked the Japanese Ministry of Finance for its proposals on organizing bilateral financial dialogues between Vietnam and Japan since 2021, as well as the agreement to maintain this dialogue channel annually.
At the first dialogue session, the Ministry of Finance Japan presented on matters related to financial cooperation in areas such as ODA cooperation, insurance, and securities between the two countries. The International Bureau of the Ministry of Finance Japan affirmed that cooperation between Japan and Vietnam in finance, especially in securities, insurance, and banking, has been and is being promoted through various initiatives and dialogues. The Japanese Financial Services Agency (FSA) is deeply involved in supporting capacity building for Vietnamese regulatory agencies.
Representatives of the Ministry of Finance Vietnam then exchanged views on cooperative matters related to taxation, customs, insurance, and securities. The Ministry of Finance highly appreciates Japan's support, especially in staff training, information exchange, experience sharing, and technical assistance through bilateral workshops and delegations.
At the second session, the National Institute for Finance represented Vietnam Ministry of Finance in a presentation on financing for disaster risk. To improve disaster risk financing in Vietnam, several suggestions were made, including enhancing the efficiency of state budget spending for natural disaster risk, diversifying financial resources, financial initiatives mobilized from the international financial market, and other solutions such as technical support from international organizations. In response, a representative of the Ministry of Finance Japan introduced the SEADRIF public asset insurance, as well as the earthquake insurance system in Japan.
Concluding the dialogue, Deputy Director General Pham Tuan Anh expressed that the dialogue was an opportunity and a useful activity for exchanging experiences, sharing views, and strengthening the cooperative and friendly relationship between the two Ministries of Finance in particular and Viet Nam-Japan bilateral cooperation in general
Loading...
