Minister Dinh Tien Dung met with Hungarian Minister of National Economy

Minister Dinh Tien Dung met with Hungarian Minister of National Economy 27/09/2017 02:53:00 1351

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25th September at MOF, after the MOU signing ceremony between the Ministry of Finance of Vietnam and the Ministry of National Economy of Hungary, Minister Dinh Tien Dung had a working session with Hungarian Minister of National Economy Mr. Varga Mihaly and his visiting delegation to discuss more about the cooperation plan between the two ministries in the near future.

25th September at MOF, after the MOU signing ceremony between the Ministry of Finance of Vietnam and the Ministry of National Economy of Hungary, Minister Dinh Tien Dung had a working session with Hungarian Minister of National Economy Mr. Varga Mihaly and his visiting delegation to discuss more about the cooperation plan between the two ministries in the near future.

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Minister Dinh Tien Dung welcomes Hungarian Economy Minister Varga Mihaly

At the meeting, Minister Dinh Tien Dung highly appreciated Hungarian support to Vietnam through the provision of conditional and relatively preferential loans. Up to now, Vietnam has signed with the Hungarian 03 framework financial cooperation agreements worth EUR 35 million (2008), EUR 60 million (2016) and EUR 440 million (early 2017). Minister Dung hoped that the Hungarian Ministry of Economy would have specific guidelines for coordinating the implementation of loan agreements in a prompt and effective way.

 

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Overview of the meeting

Regarding the content of the Memorandum of Understanding (MOU) between the two Ministries signed today, Minister Dinh Tien Dung said that the two sides should strengthen the exchange of plans to develop annual cooperation programs, serving as basis for the cooperation implementation to ensure practical, effective and specific outcomes.

"The Ministry of Finance hopes that Hungarian side would share their experiences and help Vietnam in areas of the Hungarian strengths such as tax administration, treasury and public debt management”. Minister Dung stressed.

Regarding tax administration, Minister Dinh Tien Dung said that one of the objectives of Vietnam’s tax reform by 2020 was to accelerate the simplification of tax administrative procedures, implementing electronic tax for businesses. For the e-invoices, the goal was to develop and complete regulations on electronic invoices, electronic invoices with synchronized authentication codes, helping to facilitate taxpayers and minimize the costs for managing and using invoices.

"We know that the Hungarian Ministry of Economy has a lot of experience in managing electronic taxes, especially managing the use of electronic invoices. So we are looking forward to receiving Hungary's share of experience in applying and managing electronic invoices. " Minister Dinh Tien Dung said.

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Mr. Varga Mihaly spoke at the meeting

Speaking at the meeting, Minister Varga Mihaly congratulated the achievements that Vietnam has made in the field of financial management over the past year. Mr. Varga Mihaly affirmed that on the basis of MOU on cooperation between the two parties, the Hungarian Ministry of National Economy was willing to share, exchange experience and provide technical assistance to Vietnam in the fields of public debt management, tax administration, state budget management ... in the coming time, thus strengthening the financial cooperation between the two countries, promoting the comprehensive cooperation between Vietnam and Hungary./.

Mai Ly