At the meeting, Mr. Tat Thanh Cang highly appreciated the traditional friendship and co-operation relations between Vietnam and Cuba.

Giving a short overview of socio-economic situation of HCMC in the past time, Mr. Cang said budget collection of HCMC was 1/3 of that of the whole country. He added investment capital on transport infrastructure, education, health in HCMC is huge, the budget is insufficient so HCMC is enjoyed a special mechanism. Based on this mechanism, the city has many favorable conditions for expanding and developing infrastructure-culture-education-social security projects than other localities. It is also easy for the city to access varieties of capital resources including ODA, re-borrowing from loans of the Government.

Mrs. Lina Olinda Pedraza Rodriguez thanked Mr. Cang for his sharing, saying that the visit aims to exchange experience between Ministries of Finance of both countries, to study practical experience of  Vietnam as well as to exchange technical information and financial profession which is currently implemented by Cuba.

She shared the delegation hopes to study special mechanism of HCMC in the process of development as an economic center of Vietnam.

In the framework of the working visit, the delegation of Cuba will also work with Ministry of Finance of Vietnam in Hanoi to exchange experience in management of public debt, government bond market, State’s budget management, etc.

HCM CITYWEB