OTTAWA (VNS)— Canada will help Viet Nam modernise and strengthen its banking system and financial regulations, said Canadian Foreign Minister John Baird on his visit to the country on Tuesday.
Baird said Canada wanted to intensify the two countries' relations, boost employment growth, bilateral investment and trade cooperation.
Canada' assistance to Viet Nam is through the Banking Regulation and Supervision Support (BRASS) project, an initiative worth US$14 million.
It would help the State Bank of Viet Nam (SBV) improve and modernise the country's banking system and financial regulations in accordance with international standards, Baird added.
A Canadian consulting group, including Cowater International Inc and CRC Sogema Inc, will soon work with the SBV's Banking Supervisory Agency and other relevant departments to implement the BRASS project.-VNS