They met to discuss measures pertaining to monetary policy management and measures to stabilize the macro economy to ensure sustainable economic development.

In particular they examined ways to ensure capital resources are providedo Vietnamese small and medium sized enterprises operating in Laos.

At the meeting, Governor Phaysith warmly welcomed the Governor Binh and the delegation he was leading to Laos.

He expressed his belief that this working visit of the Vietnam delegation would greatly contribute to enhancing the cooperative relations between the two countries in general and the two central banks in particular.

“The Lao Party, Government, and National Assembly will continue to create the best conditions for Vietnamese banks and enterprises to do business in Laos,” Governor Phaysith said at the meeting.

During the talks with the Chair of the Lao National Assembly Pany Yathoutu, SBV Governor Binh expressed his delight at the fine development of Vietnam-Laos special relationship, which has reaped practical results in all fields and congratulated the Lao Party, Government and People on its socio-economic achievements in recent years.

Despite the global economic downturn, Lao has reaped remarkable economic growth, stabilize the macro-economy, and reduce poverty to fulfill Millennium Development Goals (MDG).

Governor Binh briefed the Lao NA Chairwoman on the cooperative results between SBV and the Laos Central Bank, which have made important contributions to fostering special relationship between the two nations.

PanyYathoutu highlighted effective operations of Vietnamese investors and commercial banks in Laos, which has attracted significant long-term investment. She echoed Governor Phaysith’s sentiments saying that the Lao Party, Government and NA would create the best conditions for banks and businesses to operate effectively in Laos.

The same day, the SBV delegation held talks with counterparts from Laos Central Bank to discuss experiences in management of credit institutions and create capital inflows for the national economy.

They also shared experiences in revamping legal documents on banking and the monetary system to support restructuring the banking sector and creating a legal environment for credit institutions to operate in a safe and effective manner.

The Vietnamese side also applauded Laos efforts in managing credit organizations to stabilize prices, and prevent bad debts and money-laundering, respect international laws in the banking and monetary field to ensure a stable macro-economy, political security and social orders.

Both nations agreed to support each other in training human resources, discussing information and strengthening exchanges to improve the efficiency of banking and monetary sector which would help bolster Vietnam-Laos special relationship into an in-depth and practical manner.