HÀ NỘI — The current visit to Việt Nam by the Queen of the Netherlands is an opportunity for both countries to share their strategic vision on the promulgation and enforcement of financial policies, Deputy Prime Minister Vương Đình Huệ said on Thursday.

Receiving Queen Máxima Zorreguieta Cerruti, who is also the UN Secretary-General’s Special Advocate for Inclusive Finance for Development, in Hà Nội, he said Việt Nam has carried out a range of inclusive-finance-related policies in helping farmers, small- and medium-sized enterprises (SMEs) and students access credit.

Queen Máxima praised the significant progress Việt Nam has made in poverty alleviation, and said that she has discussed with different Vietnamese agencies strategic issues related to inclusive finance, with a focus on micro-credit policies and assistance for SMEs.

The high rate of mobile phone users in Việt Nam is a favourable technological condition that the country can use to better help low-income and underserved people, she said.

Deputy PM Huệ agreed that Việt Nam should build a national strategy on inclusive finance and asked the Netherlands to share its experience on this issue.

Financing sustainable growth

A national strategy for an inclusive financial system is needed to promote sustainable socio-economic development in Việt Nam, Minister of Labour, Invalids and Social Affairs Đào Ngọc Dung said during a working session with Queen Maxima  the same day.

He said Việt Nam has gained significant achievements in poverty reduction thanks to the implementation of policies on social welfare and micro-finance development, including facilitating rural and agricultural credit.

However, a significant proportion of farmers, especially in remote areas, are yet to gain access to financial and banking services from mainstream institutions instead of the informal sector, he said.

Dung said his ministry will chair a high-level policy dialogue on women and the economy in the central province of Thừa Thiên-Huế in September, as part of the APEC Year 2017.

He invited Queen Máxima to participate in the event, saying it would contribute to the country’s efforts to narrow the gender gap in the digital world.

Queen Máxima congratulated Việt Nam on its accomplishments in poverty reduction and socio-economic development over the past 30 years.

She agreed that the building of a national strategy on inclusive finance was important for boosting sustainable development.

In the context of globalisation and international integration, the UN is keen on promoting implementation of inclusive financial policies in member nations to ensure vulnerable groups receive support to overcome their financial difficulties, she said.

The Queen said the Netherlands was willing to share its experience and co-operate with Việt Nam in this field. — VNS