News & Events

Seminar on "Financial security of Vietnam in international integration"
  • In the morning of January 20, 2018, the University of Finance-Marketing (UFM) under the chairmanship of the Faculty of Finance - Banking held a seminar entitled "Vietnam's Financial Security in International Integration" with the participation of Dr. Ha Huy Tuan, Vice Chairman of the National Financial Supervisory Commission; Dr. Tran Quoc Tuan, Training Center’s Director of the State Securities Commission (SSC); Dr. Hoang Duc Long, Secretary of UFM Party Committee and President, officials of UFM Party Committee, Management Board together with scientists, research experts, lecturers, PhD candidates and MA students in and off-campus.

    View of the seminar.

  • In his opening speech, Dr. Hoang Duc Long stressed that in the context of being a small economy and the fact that Vietnam is being actively integrating deeper and deeper into the world, any shocks of the world financial market such as financial crisis, public debt crisis, interest rate increases, devaluation of the local currency would have direct effects on the administration of exchange rates, interest rates, national debt, capital inflows and outflows, and the stability of financial institutions of Vietnam. He also pointed out the shortcomings of financial security in Vietnam like the financial market has not set up a mechanism to operate adequately and effectively; supervision of the financial system in Vietnam still has many limitations; the ability to cope with market shocks and the regulation of external capital in the economy remains low; and the potential risks in the financial system. These things threaten the financial security of the country, so the authorities need to take appropriate action to ensure that the financial system will develop safely and sustainably to protect the "National sovereignty"; helping maintain the macroeconomic stability and sustainable growth of the economy.

    Delegates speak at the seminar.

  • Speaking at the seminar, Dr. Huynh Thanh Dien highlighted the relationship between public debt and national monetary security, thereby giving warnings and policy suggestions for public debt management to control the financial security of Vietnam. Assoc. Prof. Dr. Nguyen Hong Thang pointed out how the risks of state budget revenues and expenditures affect financial security, thus suggesting some solutions such as tightening fiscal discipline and transparency; controlling the government’s and local authorities’ commitment; stabilizing and expanding domestic revenue base; focusing on direct taxes, firstly personal income tax; applying personal asset tax to the main taxpayers with the right of land use and works on land. In addition, Assoc. Prof. Dr. Tran Huy Hoang assessed the current status of commercial banks in Vietnam, thence providing a number of solutions such as inspection and supervision work that need to be based on international standards and must be regularly and constantly done. Besides, Dr. Tran Quoc Tuan, Director of SSC’s Training Center, gave assessments on the level of financial security on the stock market today.

    Presidium of the seminar (from left) Dr. Hoang Duc Long (UFM President & Party Secretary), Dr. Ha Huy Tuan (Vice Chairman of the National Financial Supervisory Commission); Assoc. Prof. Dr.Ho Thuy Tien (Head of UFM Finance & Banking Department).

  • At the seminar, researchers and leading experts in the field of finance - banking and a large number of delegates participated in ebullient discussions and exchanges of personal views giving unique ideas, practical scientific foundation, especially their discussed opinions and view exchanges helped us realize the status quo and level of financial security of Vietnam in the current situation and the acquisition of breakthrough ideas for financial security in Vietnam in the coming period in order to have a foundation for policy makers.
  • The seminar clarified that Vietnam's financial security has many potential risks to the safety of the whole financial system in many respects. In the period of 2000 - 2007, the financial system, although not fully developed and not integrated deeply, had maintained certain stable operation. However, in the period of 2007 - 2011, the financial system was seriously unstable from the pressure of integration and crisis. Although the state of financial security has improved since 2012, it has not yet been sustainable and objective and subjective limitations still remain. Based on these facts the seminar proposed to the government to enforce policies that help the country actively integrate into the world, maintain economic growth but still ensure national sovereignty and financial security.

    Assoc. Prof. Dr. Ho Thuy Tien, Head of Finance-Banking Department, gives closing speech.

  • Giving the closing speech, Assoc. Prof. Dr. Ho Thuy Tien (Head of Finance-Banking Department) expressed her sincere thanks to guests, scientists and all delegates attending the seminar, she affirmed that financial security has become a key task in the process of integrating and maintaining economic growth in Vietnam. Delegates at the seminar listened to views and opinions expressed by scientists, especially those from Dr. Ha Huy Tuan - Vice Chairman of the National Financial Supervisory Commission in his remarks about Vietnam’s current financial security, and based on that the Seminar Organizers will have in-depth reports proposed to the government.

    Delegates pose for photo taking.

  • Source: UFM’s Vietnamese Website.