Background

134th IBEC’s Council Meeting

On November 29, 2019, the State Bank of Vietnam (SBV) in collaboration with the International Bank for Economic Co-operation (IBEC) organized the 134th IBEC’s Council Meeting in the city of Ha Long, Vietnam. This was the periodical meeting of the IBEC’s Council with the attendance of Ministerial-level representatives of the IBEC member countries. SBV Deputy Governor Nguyen Thi Hong attended and made an opening speech at the Meeting.

In her opening remarks, Deputy Governor Nguyen Thi Hong spoke highly of the IBEC’s achievements and hoped that the IBEC would continue to reform strongly and positively to become an institution operating in line with the international practices; to develop and expand its operations sustainably in proportion to its potentials and to meet the expectations of the member countries. In addition, the SBV Deputy Governor also emphasized that the IBEC should ensure the operational quality for sustainable development, as well as expand its operations in the markets of the member countries, especially those at distant locations such as Vietnam and Mongolia.

At the Meeting, apart from the periodical review and assessment of the IBEC’s operational situations and the budget for the first six months of 2019, as well as the work plan for 2020, the IBEC Management Board and the member countries also discussed the formulation and amendment of the regulations on the IBEC functional operations in order to improve further the IBEC’s service quality to meet the demands from the member countries. One of the important substances of this Meeting was the discussion about the orientations of reforming the organizational structure and the governance of the IBEC. Moreover, the Council also considered to approve some loans for the member countries under its jurisdiction.

In the discussion, the SBV Deputy Governor requested the IBEC and the member countries to implement measures of ensuring and protecting the voice of small shareholders, thereby helping those countries to have opportunities to take part in the decision-making and the operations of the IBEC, beside ensuring the support from the IBEC for the socio-economic development of the member countries. In that spirit, Deputy Governor Nguyen Thi Hong requested the member countries to show high determination and consensus in the discussions in order to make appropriate policies, strategies and directions for the IBEC development in the future. The holding of the IBEC’s Council Meeting in Vietnam this time was of great importance, contributing to enhancing the cooperative relations between the IBEC and Vietnam. Vietnam is committed to always accompanying with other member countries and the IBEC to implement the set-out objectives.

Le Hang

 

Author: Le Hang
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