New Zealand’s Central Bank Chairman Applauds Vietnam’s Interest Rate Reduction and Prioritizes Early Growth Over Other Countries

On the morning of March 10th, in Auckland, during the official visit to New Zealand, Prime Minister Pham Minh Chinh received Professor Neil Quigley, the Vice-Chancellor of the University of Waikato and the Chair of the Board of Governors of the Reserve Bank of New Zealand.

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

Waikato is one of the top universities in New Zealand, ranking among the best universities in the world. The university has effective cooperation activities with the Ministry of Education and Training of Vietnam and other agencies, such as the Social Insurance of Vietnam, the Training and Personnel Organization (Central Organizing Committee), and has many successful cooperation programs with universities in Vietnam (National Economics University, Ho Chi Minh City University of Economics, Van Lang University).

Waikato is the only university in New Zealand offering full-time undergraduate programs in Vietnam, including two majors in supply chain management and digital business, both of which are in high demand in Vietnam.

During the meeting with the Prime Minister, Professor Neil Quigley assessed that Vietnam has an increasingly important position and role, stating that Vietnam is a priority market for Waikato University in Southeast Asia. Vietnam has a young and dynamic population, and Waikato is committed to allocating resources and engaging in long-term activities in Vietnam. They also expressed a desire to expand cooperation with Vietnam in areas such as fintech, artificial intelligence, cyberattacks, and information security.

Waikato is currently preparing to establish a medical university – the 3rd medical university in New Zealand. In the future, Waikato hopes to develop research cooperation and technology transfer in this field with Vietnam, as well as continue long-term partnerships with Vietnamese agencies in training officials and high-quality human resources.

He believes that educational cooperation between the two countries will develop strongly in the coming time, and New Zealand will provide more scholarships for Vietnamese students, contributing to the strong bilateral relationship.

Prime Minister calls for continued cooperation between New Zealand and the University of Waikato in training human resources – Photo: VGP/ Nhat Bac

Sharing some macroeconomic policy recommendations based on the Prime Minister’s request, Professor Neil Quigley also highly appreciated Vietnam’s solutions and results in macroeconomic management, monetary policy, and inflation control. In some areas and aspects, Vietnam has performed better than many developed countries.

Particularly, Vietnam’s recent interest rate reductions while many countries are increasing interest rates, and Vietnam’s ability to prioritize early growth demonstrate correct policies and management.

As the Chairman of the Council of the Reserve Bank of New Zealand, Professor Neil Quigley is ready to promote cooperation and share experiences with Vietnam in credit, financial management, and banking.

For his part, Prime Minister Pham Minh Chinh stated that this visit took place in the context of positive and comprehensive bilateral relations in all fields, particularly in education.

The Prime Minister highly appreciated the concern, efforts, perseverance, and contributions of Professor Neil Quigley to the educational cooperation between the two countries, as well as the effective cooperation of Waikato University with Vietnamese universities and agencies.

Professor Neil Quigley stated that Waikato is committed to allocating resources and engaging in long-term activities in Vietnam – Photo: VGP/ Nhat Bac

Stating that the two sides are preparing to sign a new strategic cooperation plan on education (2023-2026), the Prime Minister is delighted that Vietnam is one of the Southeast Asian countries with the highest number of students in New Zealand (about 2,000 students, including about 50 students at Waikato University).

The Prime Minister proposed that New Zealand in general and Waikato University in particular continue to strengthen cooperation with Vietnam in training human resources, especially in emerging fields, digital technology, and semiconductors, as well as enhance exchanges of lecturers, students, programs, curricula, and sharing experiences. Waikato University will continue to create favorable conditions for Vietnamese students studying here.

Prime Minister witnesses the University of Waikato and Vietnamese universities exchange 4 agreements on education and training cooperation – Photo: VGP/ Nhat Bac

Prime Minister Pham Minh Chinh also requested Professor Neil Quigley to share experiences and provide recommendations with Vietnam in the field of macroeconomic management, finance, and banking, based on his experience and role as the Chairman of the Council of the Reserve Bank of New Zealand.

On this occasion, under the witness of the Prime Minister, Minister of Education and Training Nguyen Kim Son presented the Education Career Medal to Professor Neil Quigley; and the University of Waikato and Vietnamese universities exchanged 4 agreements on education and training cooperation.