Deputy Minister Vu Thi Mai: Ministry of Finance strives to deploy trade facilitation project together with USAID
Delegates took group photo after meeting |
At the meeting, Deputy Minister Vu Thi Mai congratulated Ann Marie Yastishock on her appointment to hold the position as New Mission Director in Vietnam.
The Deputy Minister believed that in the future, Mrs. Ann Marie Yastishock will develop a financial cooperation relationship between the Ministry of Finance of Vietnam and USAID to be increasingly close, practical and effective.
“The Ministry of Finance hoped that with personal work experience, in the future, Ms. Ann Marie Yastishock will continue to promote the financial cooperation between the two governments in general and between the Ministry of Finance of Vietnam and USAID in particular to a new level. We were ready to work closely with USAID to promote cooperation to ensure an effective, mutually beneficial relationship,” the Deputy Minister of Finance said.
The Ministry of Finance highly appreciated the financial and technical support and advice provided by USAID, especially USAID's support for the Trade Facilitation Project (TFP), thereby helping the Ministry of Finance improve customs legislation, deepen integration with countries around the world, improve national competitiveness and support the full implementation of international commitments to which Vietnam is a signatory.
In the future, the Ministry of Finance hoped to continue receiving financial and technical support from USAID for the socio-economic development of Vietnam in general and for the Ministry of Finance in particular. Focusing on a number of key areas which are strengths of USAID such as economic growth and public financial management, reforming the trade system and customs.
Currently, the Ministry of Finance receives USAID support through the Trade Facilitation Project (TFP), which is led by the General Department of Vietnam Customs as the Project Owner. The TFP project has been approved by the Prime Minister to implement from May 2019 with a total ODA grant of nearly $22 million and VND10 billion of reciprocal capital for the purpose of reform and standardisation, harmonise and simplifying administrative procedures in the field of import and export in accordance with international standards for the implementation of the Trade Facilitation Agreement of the World Trade Organization and the policy of reforming specialised inspection of import and export goods which has been determined by the Vietnam Government to be practical, timely and necessary, meeting the expectations of Vietnam in implementing new generation FTAs.
Deputy Minister Vu Thi Mai hoped that, despite being seriously affected by the Covid-19 pandemic, both sides would make their best efforts, with the most flexible solutions to continue implementing the project towards the set objectives, such as improving the efficiency of the Information Technology System and the National Single Window; improve the efficiency of specialised inspection activities; applying risk management and compliance management to customs management; enforce the TFP agreements and improve the effectiveness of the Trade Facilitation Committee; summarizing the Customs Development Strategy for the 2011-2020 period and building the Development Strategy for the 2021-2030 period; as well as developing customs-enterprise partnerships.
In response, Mrs. Ann Marie Yastishock expressed her admiration for the Government of Vietnam in effective prevention of the Covid-19 pandemic, while still developing positive economic growth in the context of the world economy facing many difficulties due to Covid-19.
The new USAID Mission Director in Vietnam affirmed that she will work closely with the Ministry of Finance on ongoing projects, and will continue to research to cooperate with the Ministry of Finance of Vietnam in many other areas.
Related News
Facilitates import and export enterprises amid difficult context
09:46 | 06/04/2023 Customs
Enterprises have the right to pre-determine HS codes
09:55 | 06/04/2023 Regulations
Customs seizes 20 drug-related offences
10:23 | 05/04/2023 Anti-Smuggling
Import and export turnover across Cao Bang prospers but still exists difficulties
10:25 | 05/04/2023 Import-Export
Latest News
Corporate bonds worth 1.1 billion USD issued in March
13:55 | 06/04/2023 Finance
Tax revenue is estimated at VND 426,922 billion in the first quarter
09:56 | 06/04/2023 Finance
Nearly 400 complaints about insurance distribution through banks on Ministry of Finance hotline
14:47 | 04/04/2023 Finance
Central bank starts huge credit package for social housing projects
14:42 | 04/04/2023 Finance
More News
In Q1, State revenue estimated to rise by 1.3%
13:28 | 04/04/2023 Finance
Consider raising the level of penalties to ensure fairness and transparency in the stock market
13:27 | 04/04/2023 Finance
Central bank cuts policy interest rates to spur growth
17:43 | 02/04/2023 Finance
Ensure policies to attract investment when implementing global minimum tax
10:33 | 02/04/2023 Finance
SBV asks to issue revised decree on foreign ownership cap at Vietnamese banks
20:30 | 01/04/2023 Finance
Solutions to attract FDI when implementing the global minimum CIT
11:38 | 01/04/2023 Finance
Effective implementation of tax incentives as driving force for growth in trade turnover between Vietnam and Cuba
13:43 | 31/03/2023 Finance
Being many "hot" issues at the general meeting of shareholders of banks
09:24 | 30/03/2023 Finance
Bringing the policies on reducing land rent and water surface rent into life
15:41 | 29/03/2023 Finance
Your care
The system has not recorded your reading habits.
Please Login/Register so that the system can provide articles according to your reading needs.
Corporate bonds worth 1.1 billion USD issued in March
13:55 | 06/04/2023 Finance
Tax revenue is estimated at VND 426,922 billion in the first quarter
09:56 | 06/04/2023 Finance
Nearly 400 complaints about insurance distribution through banks on Ministry of Finance hotline
14:47 | 04/04/2023 Finance
Central bank starts huge credit package for social housing projects
14:42 | 04/04/2023 Finance
In Q1, State revenue estimated to rise by 1.3%
13:28 | 04/04/2023 Finance