Ha Noi (VNA) – "Viet Nam has been successful in shifting to a market economy in terms of State-oriented sustainable development, and aims at ensuring equality, hunger and poverty eradication," said Prime Minister Nguyen Tan Dung.

The Prime Minister also expressed his appreciation of the IMF's assistance in conceptualizing and implementing economic development policies during his meeting with the International Monetary Fund (IMF)-Viet Nam Director II Houng Lee, on September 18.

Viet Nam should focus on stabilising its financial market and developing the industrial sector, II Houng Lee told his host and recommended stricter supervision of commercial banks. He advocated setting up new regulations and increasing the central bank's authority over monetary policies and debt management.

In turn, the PM said that State-owned enterprises have embarked on the path of reforms, issuances while developing economic groups in order to achieve firmed fiscal controls.

“Viet Nam has continued to align the legal system with the central bank to help stabilise the market, control debt and improve credit quality,” he added, expressing his hope that the IMF would continue to provide assistance in the drafting of policies.

Lee praised the country's economic achievements over the last few years, particularly in terms of financial and monetary stabilisation and suggested speeding up the equalisation and streamlining of State-owned enterprises.-Enditem