VNBA and ABB sign Memorandum of Understanding (MOU)

Attending the event, on the VNBA side were Dr. Nguyen Quoc Hung, Executive Vice President cum General Secretary, and leaders of departments and units under the VNBA Standing Office. On the Belarusian side, there were Mr. Uladzimir Baravikou, Ambassador Extraordinary and Plenipotentiary of the Republic of Belarus to Vietnam; Mr. Mikhail Igorevich Provorov, President of the the Association of Belarus Banks and Ms. Vice President of the the Association of Belarus Banks.

Dr. Nguyen Quoc Hung affirmed that the signing ceremony is an important event, opening up opportunities for cooperation between VNBA and ABB, promoting the strengths and roles of each party to support each other in the process of operation and development, and also aiming to contribute to the common development of the banking industry of Vietnam and Belarus.

"I appreciate the efforts of both parties in preparing and agreeing on the terms of cooperation in the Memorandum of Understanding. This demonstrates the determination of both Associations in working together towards common goals, contributing to improving the efficiency of banking operations, supporting the sustainable development of the finance and banking sector in Vietnam and Belarus", Mr. Nguyen Quoc Hung expressed and sent his sincere thanks to Ambassador Uladzimir Baravikou and the Belarusian Embassy in Vietnam for playing an important role in connecting and supporting the preparation process for the signing of the MOU.

"I hope that with this memorandum of understanding, we will not only carry out cooperation activities effectively but also build a long-term, sustainable partnership that brings practical benefits to both sides," Mr. Nguyen Quoc Hung affirmed.

According to the signed document, in the coming time, the two sides will promote regular contact to implement joint programs, promote plans and organize events, training and professional seminars...

Speaking at the ceremony, Mr. Uladzimir Baravikou, Ambassador Extraordinary and Plenipotentiary of the Republic of Belarus to Vietnam, affirmed that the signing ceremony is a testament to the realization of the agreements reached between Vietnam and Belarus at the highest level at the 2024 BRICS Leaders' Meeting in Kazan, Russia, and follows the landmark visit of the National Bank of Belarus delegation to Vietnam in October 2024.

"We always consider Vietnam an important partner, an influential country in Southeast Asia. There have been active political dialogues between the two countries, people-to-people diplomacy has been promoted and a solid legal framework is being built. Bilateral cooperation cannot be successful without strengthening the economic foundation, of which the core element is the banking and finance sector. I believe that we have great potential for cooperation and we need to make every effort to fully exploit this potential," Mr. Uladzimir Baravikou emphasized.

According to the Ambassador Extraordinary and Plenipotentiary of the Republic of Belarus to Vietnam, the signing ceremony is even more meaningful as it takes place just a few days before the 33rd anniversary of the establishment of diplomatic relations between the two countries and before the Lunar New Year.

"I hope that 2025 will be a symbolic year for the development of the relationship between Vietnam and Belarus," Mr. Uladzimir Baravikou expressed his hope and sent New Year greetings.

Mr. Mikhail Igorevich Provorov, Chairman of the Belarusian Banking Association said: "Finance and banking are indispensable fields in trade, economic and investment cooperation between countries. Therefore, we always attach importance to development cooperation in the banking sector.

According to Mr. Mikhail Igorevich Provorov, Belarus is a country with a stable financial level and is actively building a digital banking technology infrastructure, a common payment system for the national banking system (QR code payment system, NSC network). In addition, Belarus is also building an effective network security system....

"We are ready to share practical experience in the field of finance and banking with other countries. At the same time, we welcome the readiness of the Vietnam Banking Association for mutually beneficial cooperation. Close cooperation and sharing of effective solutions will strengthen the competitiveness of the two countries in the international arena," Mr. Mikhail Igorevich Provorov emphasized.

The Chairman of the Belarusian Banking Association affirmed that the signing and implementation of the MOU today will be an important contribution to expanding bilateral cooperation.