Ha Noi (VNA) - Minister of Finance Vu Van Ninh on February 20 received the “Finance Minister of Asia of 2007” award conferred by The Banker magazine under the Financial Times Group of the United Kingdom .

The award, handed by Ambassador Mark Kent of the Great Britain and Northern Ireland , was made in recognition of Viet Nam ’s success in economic development and financial stability in the recent past.

Ninh, however, acknowledged at the awards ceremony that despite major achievements, the country is facing challenges emerging from escalating inflation, low competitiveness of the economy and troubles in economic, especially administrative, reforms.

“Situation puts it that the country has to focus on macro-economic stabilisation and boost legal, trade and financial market reforms in the years to come,” said the financial chief.--Enditem