HA NOI (VNS)— Viet Nam is studying other countries' experiences with financial supervisory models in order to apply a suitable one domestically, so the opinions of leading experts from a modern financial center such as Switzerland would be highly valued, Deputy Prime Minister Vu Van Ninh said yesterday.
He made this statement while meeting with Daniel Zuberbuhler, former Vice Chairman of the Board of Directors Swiss Financial Market Supervisory Authority (FINMA), Daniel Patrick Senn, Head of Financial Services at KPMG and Andrej Motyl, the Swiss Ambassador to Viet Nam to exchange views on constructing Viet Nam's modern financial supervisory system.
According to the Swiss experts, each country has its own financial supervisory model that suits its particular economic structure. However, they suggested a national financial authority play a general supervisory role, making independent assessments and offering early warnings of any risk to the financial system.
They promised to help Viet Nam build a modern financial supervisory system that reached international standards and to conduct research on the country's current system in order to pinpoint areas where it could be improved. — VNS