Central Bank Governor of New Zealand commends Vietnam’s interest rate reduction and prioritizes early growth over other countries

On the morning of March 10th, in Auckland, during his official visit to New Zealand, Prime Minister Pham Minh Chinh met with Prof. Neil Quigley, Vice-Chancellor of the University of Waikato and Chairman of the Reserve Bank Board of New Zealand.

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Prime Minister Pham Minh Chinh receives Prof. Neil Quigley, Vice-Chancellor of the University of Waikato, and Chairman of the Reserve Bank of New Zealand – Photo: VGP/Nhat Bac

Sharing some macroeconomic policy recommendations as proposed by the Prime Minister, Prof. Neil Quigley also acknowledged Vietnam’s solutions and results in macroeconomic management, monetary policy, and inflation control, as well as in many fields and aspects where Vietnam has performed better than many developed countries.

In particular, Vietnam’s recent interest rate reduction while many countries were increasing interest rates, and Vietnam’s ability to prioritize early growth, demonstrates very sound economic management policies.

As Chairman of the Board of the Reserve Bank of New Zealand, Prof. Neil Quigley is willing to promote cooperation and share experiences with Vietnam in the areas of credit, financial management, and banking.

For his part, Prime Minister Pham Minh Chinh stated that this visit takes place in the context of bilateral relations developing very positively in all areas, particularly in education cooperation.

The Prime Minister highly appreciates the interest, effort, perseverance, and contributions of Prof. Neil Quigley to the education cooperation between the two countries, as well as the effective cooperation activities of the University of Waikato with Vietnamese universities and agencies.

It is said that both sides are preparing to sign a new Strategic Cooperation Plan on Education (2023-2026). The Prime Minister is pleased that Vietnam is one of the Southeast Asian countries with the most students studying in New Zealand (about 2,000 students, including about 50 students at the University of Waikato).

The Prime Minister suggests that New Zealand in general, and the University of Waikato in particular, continue to enhance cooperation with Vietnam in human resource training, especially in emerging fields, digital technology, and semiconductor chips; strengthen exchanges of lecturers, students, programs, curricula, and sharing of experiences. The University of Waikato will continue to create conditions for Vietnamese students studying here.

The Prime Minister also proposes that with his experience and role as Chairman of the Board of the Reserve Bank of New Zealand, Prof. Neil Quigley has many cooperative activities, sharing of experiences, and suggestions for Vietnam in macroeconomic management, finance, and banking.

Dong Tu