Prime Minister Nguyen Tan Dung warmly welcomed Kyaw Kyaw Maung, Governor of Central Bank of Myanmar (CBM) to Vietnam on August 6.

PM Dung emphasized the traditional friendly relationship between the two countries, adding that bilateral cooperation witnessed strong progress especially in economics, trade and investment. He added close cooperation between the CBM and the State Bank of Vietnam (SBV) continues to contribute to sound relations between the two countries.

Although Vietnam ranks 8th among foreign investors in Myanmar, economic, trade and investment relations are still far below the two countries’ potential.

PM Dung proposed that Myanmar soon grant an investment certificate for the Bank for Investment and Development of Vietnam (BIDV) to open a branch in the country and support expanding business  investment.

The Vietnamese Government always creates a niche for domestic businesses to accelerate and invest effectively in Myanmar, Dung said .

For his part, Governor Maung said Myanmar attaches high importance to strengthening multifaceted cooperation with Vietnam, especially in economic, investment and trade for mutual benefit.

Myanmar will closely coordinate with Vietnam to deal with arising issues, which facilitate the two countries’ business performance, Maung said.

He asserted that the CBM has received a direction from President Thien Sein and will consider granting a certificate for BIDV to open branches in Myanmar soon.

Earlier on the same day, Governor Maung met SBV Governor Nguyen Van Binh.

The two governors then briefed one another on the socioeconomic development and economic reform in their respective country, and reviewed the implementation of the memorandum of understanding that the two central banks recently signed.

The two central banks will further cooperation through exchange visits and experience sharing.