Belgium, Vietnam strengthen finance cooperation

March 12, 2012 | 20:50

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Vietnam and Belgium signed a memorandum of understanding (MoU) on finance cooperation and a protocol for amending the double taxation avoidance agreement in Hanoi on March 12.

The MoU was signed by Vietnam’s Minister of Finance Vuong Dinh Hue and Belgium’s Vice Prime Minister Didier Reynders, and witnessed by State Vice President Nguyen Thi Doan of Vietnam and Crown Prince Philippe of Belgium.

It focuses on finance markets, public debt management, macroeconomy forecasting and analyzing, and State budget management, collection, and spending.

The double taxation avoidance agreement between the two countries was originally signed in Hanoi on February 28, 1996 and it put into effect on June 25, 1999. The signing of the protocol for amending it aims to strengthen taxation cooperation between the two sides.

Crown Prince Philippe is in Hanoi for a visit to Vietnam at the invitation of Vice President Nguyen Thi Doan to promote multi-faced bilateral cooperation, especially in economics, trade and investment.

Representatives of nearly 300 Belgian businesses seeking investment opportunities in Vietnam are accompanying the Belgian Crown Prince and Vice Prime Minister on the visit.

VOV

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