The Ministries of Finance of Viet Nam and Hungary signed a memorandum of understanding (MoU) on financial cooperation in Ha Noi on October 16. 

The Ministries of Finance of Viet Nam and Hungary sign a memorandum of
understanding (MoU) on financial cooperation, Ha Noi, October 16, 2020
- Photo: VGP

Speaking at the event, Vietnamese Minister of Finance Dinh Tien Dung expected that the MoU will contribute to strengthening the bilateral friendship and traditional cooperation and expanding international cooperation in finance.

The MoU will help promote bilateral dialogue and coordination in fields of mutual concerns, especially financial analysis and forecasting and the macro-economy, particularly analyzing and forecasting financial and macro-economic issues, building and managing budget collection-expenditure and public debts, and developing Government bond markets, he asserted. 

The signing of the MOU is very significant as the two countries are celebrating the 70th founding anniversary of bilateral diplomatic ties in 2020. In addition, it will create a cooperative framework for both sides to further accelerate bilateral economic and financial ties. 

Earlier in 2017, the Vietnamese Ministry of Finance and the Hungarian Ministry for National Economy (now the Ministry of Finance) inked a MoU on financial cooperation.