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Welcome letter from the Deputy Prime Minister of Socialist Republic of Vietnam

On behalf of the Government of the Socialist Republic of Vietnam, I warmly welcome you to the Conference “Financial stability framework and supervision in a changing environment” from 26th to 28th November 2012 in Hanoi, Vietnam.

The 2008-2009 financial crisis has laid bare the enormous shocks and challenges that international policy makers and financial regulators have been coping with. The world continues to witness the financial instability of the Euro zone and its impacts on all the continents. In the meantime, the East Asian economies are striving diligently to overcome the financial and economic turmoil caused by the challenging environment. The need to strengthen and upgrade the capacity to forecast, measure, and supervise potential systemic risks that could endanger the overall stability of the financial systems is becoming more urgent than ever.

As an open economy, Vietnam is also profoundly impacted by the global economic and financial upheaval. Naturally, in the process, Vietnam is actively implementing a grand economic structure plan with the view to transform its growth model. One of the plan’s focal points is to restructure the financial markets for more effective allocation of capital resources and at the same time, to enhance the capability to supervise the financial markets.

Therefore, I strongly believe that this Conference, with the active participation of the leaders from various policy-making authorities, financial supervision agencies and other national financial safety nets in East Asia, will yield valuable lessons, ideas, and practical solutions toward a more stable regional financial market in particular and more stable global ones in general. This also conveys and affirms Vietnam's efforts to join the regional and international communities in the effort to overcome the crisis and work towards sustainable development globally.

I wish the Conference a great success.

Vu Van Ninh

Deputy Prime Minister

The Socialist Republic of Vietnam