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Int'l Cooperation

Last updated: Wednesday, September 19, 2018


Vietnam, Hungary in Deal to Boost Financial Cooperation

Posted: Monday, September 25, 2017

Vietnam PM Phuc and Hungary PM Orbán. Photo: VGP/Quang Hieu
Vietnam PM Phuc and Hungary PM Orbán. Photo: VGP/Quang Hieu

Vietnam and Hungary Monday signed a memorandum of understanding to boost cooperation between the two countries' ministries of finance, Vietnam’s Ministry of Finance said.

The MoU, signed in Hanoi between Vietnam’s Minister of Finance Dinh Tien Dung and Hungarian Minister and National Economy Mihály Varga, will focus on macroeconomic analyzing and forecasting, tax and customs policies, public debt management and government bond market development, the ministry said in a statement.

The deal was signed on the sideline of a meeting between Vietnamese Prime Minister Nguyen Xuan Phuc and his Hungarian counterpart Viktor Orbán during his visit to Hanoi.

Messrs Phuc and Orbán agreed at the meeting that bilateral trade between Vietnam and Hungary remains modest, though having grown significantly over the recent years, the Vietnamese government said. They agreed that the two countries need to further boost cooperation in several areas, including food processing, renewable energy, environment protection and pharmaceutical production.

On the same day, Vietnam also signed an agreement to take 57 million euro ($67.8 million) worth of official development assistance (ODA) from the Hungarian government to build a hospital in the southern province of Can Tho for treating cancer patients.

Vietnam has so far signed agreements for 535 million euro worth of ODA from the Hungarian government, the government said.


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