SBV leader grants interview to Japanese newspaper

Deputy Governor Nguyen Dong Tien of the State Bank of Vietnam (SBV) has asserted that the free market economy itself could not solve all the economic problems, but Vietnam needs to implement proper policies and the intervention of the Government in order to prevent economic recession and promote production, business and investment stimulus on the basis of the lessons learned from the 1997 regional financial crisis.

This statement was made by Mr. Nguyen Dong Tien in his interview for the resident reporter of the Asahi daily of Japan on December 9.

The interview focused on such issues as the Vietnamese economy’s  growth in 2008 and its forecast for 2009, SBV’s consecutive cuts of the base interest rate, the opening of  the Vietnamese financial market and its effects on the  Vietnamese economy, the Government’s macro-economic policies in preventing the impacts of the global financial crisis, and foreign investment in Vietnam.

This interview together with another interview on December 6 for the Japan Broadcasting Corporation (NHK)  could create good opportunities for Japan to better understand the development prospect of the Vietnamese economy and the Vietnamese banking sector , thereby helping the two countries enhance cooperation in many areas.

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