The Ministry of Strategy and Finance and a high-level delegation from Vietnam met to discuss South Korea's public financial management reforms and ways to enhance cooperation between the two countries.
On September 28, the ministry announced that it held a meeting with the Vietnamese delegation led by Nguyen Duc Chi, Deputy Minister of Finance. The delegation included representatives from the Vietnamese Ministry of Finance, the National Assembly's Economic and Financial Committee, the Government Office, and the World Bank.
The Vietnamese government is pursuing public financial management reforms aimed at strengthening fiscal discipline, improving the efficiency and effectiveness of government spending, and enhancing the linkages between fiscal policy, budgeting, and public investment. The delegation visited the ministry to learn about the development of South Korea's financial system and to derive policy implications.
Kang Young-kyu, head of the Future Strategy Planning Office, introduced efforts to align medium- to long-term national strategies with fiscal operations and highlighted key investment directions in the 2027 budget proposal. He stated, "We will continue to engage in exchanges to expand cooperation in the area of fiscal policy as a result of this visit."
The Vietnamese side expressed optimism that the experiences gained from this visit would be useful in developing Vietnam's public financial management system.
The ministry plans to continuously share policy experiences in budgeting, future strategies, and finance with key partner countries, including Vietnam, and to identify practical cooperation projects.
Meanwhile, the Vietnamese delegation is scheduled to visit the Ministry of Strategy and Finance and the Korea Development Institute's Public Investment Management Center until October 1, where they will learn about South Korea's experiences in national fiscal management plans, total allocation and autonomous budgeting systems, performance management systems, and the digital budgeting and accounting system (dBrain), among other aspects of fiscal reform and public investment systems.
* This article has been translated by AI.
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