The units signed a Memorandum of Understanding for cooperation in scientific research, training, and policy advisory. (Source: Academy of Finance)

Participants in the signing included: Academy of Finance, Institute of Strategy and Policy on Finance and Economics, Academy of Policy and Development, State Budget Department, Statistics Department, Department for Private Sector and Collective Economy Development, and the School of Economic and Financial Cadre Training.

The signing ceremony aims to meet the requirements for innovation in policy formulation and implementation, enhancing the quality of research, analysis, forecasting, and human resource development, which are increasingly essential.

Through the Memorandum of Understanding, the parties agreed to establish a long-term, substantive coordination mechanism that leverages the strengths, functions, and tasks of each unit, contributing to improving the effectiveness of policy advisory in the Finance sector.

Scientific research

According to the Memorandum of Understanding, the parties will jointly contribute to developing strategic orientations for the development of science, technology, and innovation in the sector and the nation. They will participate in policy advisory activities for the Government and localities. The units also agreed to participate in and coordinate the implementation of national, ministerial, and institutional scientific and technological tasks, scientific programs, and projects; as well as participate in and coordinate the organization of selection councils, direct assignment councils, acceptance councils for ministerial and institutional scientific and technological tasks, and master's and doctoral defense councils based on each party's needs and capabilities.

Additionally, the Memorandum of Understanding also mentions enhancing cooperation, exchange, connection, and information sharing between the institutional-level scientific and technological councils of the parties. It emphasizes coordinating on issues of mutual interest, such as advising on the development and completion of scientific research orientations in the Finance sector, sharing and exchanging useful information related to policy consultation, scientific and technological management, research, training, and capacity building.

The agreement is expected to create a sustainable linkage foundation among units in the Finance sector. (Source: Academy of Finance)

Training and capacity building

The parties agreed to collaborate in developing and organizing training and capacity-building courses according to their functions and tasks to develop human resources within and outside the Finance sector.

The units are responsible for facilitating and sending civil servants, officials, experts, lecturers, and researchers to participate in developing programs, curricula, training materials, and teaching at training and capacity-building courses organized by one party or jointly organized by the parties.

Based on needs and actual conditions, the Institute of Strategy and Policy on Finance and Economics, State Budget Department, School of Economic and Financial Cadre Training, Statistics Department, and Department for Private Sector and Collective Economy Development will consider accepting students from the Academy of Finance and Academy of Policy and Development for study, research, and internships at units relevant to their training fields.

The Institute of Strategy and Policy on Finance and Economics, State Budget Department, School of Economic and Financial Cadre Training, Statistics Department, and Department for Private Sector and Collective Economy Development will facilitate and introduce experts and managers with doctoral degrees for the Academy of Finance and Academy of Policy and Development to consider signing contracts for adjunct and visiting lecturers.

Simultaneously, they will send staff and officials to teach in some training programs of the Academy of Finance, Academy of Policy and Development, and School of Economic and Financial Cadre Training to convey practical experiences and update economic, financial, and budgetary policies to learners, contributing to improving the quality of training and capacity building, participating in guiding doctoral, master's, and bachelor's research and thesis/dissertation defense councils of learners.

The Academy of Finance and Academy of Policy and Development will facilitate civil servants and officials from the Institute of Strategy and Policy on Finance and Economics, State Budget Department, Statistics Department, School of Economic and Financial Cadre Training, and Department for Private Sector and Collective Economy Development who wish and are eligible to participate in undergraduate and postgraduate (master's, doctoral) training programs in economics, finance, public policy, investment, sustainable development, etc.

The parties will jointly organize exchanges of experiences, knowledge, skills, and scientific thematic activities on issues of mutual interest.

Policy advisory

One of the key cooperation contents of the seven units is research, analysis, forecasting, and building a statistical database to serve policy advisory.

Specifically, the units will share information, build a statistical database, and coordinate in providing analytical and forecasting tools and research to serve policy advisory and formulation based on each party's needs and capabilities. They will collaborate in developing and advising on macroeconomic, financial, and budgetary policies.

Additionally, they will collaborate to establish an information network database on experts, scientists, collaborators, and a list of scientific and technological tasks to enhance the quality and effectiveness of activities according to each party's functions and tasks. They will cooperate in organizing forums, seminars, conferences, and scientific discussions. They will coordinate in organizing international, national, ministerial, and institutional conferences and seminars.

The parties will also cooperate in compiling, publishing, or submitting to competent authorities for the issuance of programs, curricula, reference books, monographs, and other publications.

The Memorandum of Understanding serves as a basis for the parties to develop and implement specific cooperation programs and tasks for the period 2026 - 2030. The effective implementation of the Memorandum of Understanding is expected to contribute to improving the quality of research, training, and policy advisory, meeting the sustainable development requirements of the Finance sector in the new phase.

Delegates attending the signing ceremony. (Source: Academy of Finance)