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Luxemburg’s Minister for Cooperation and Humanitarian Aid to visit Vietnam

Mr. Jean-Louis Schiltz, Minister for Cooperation and Humanitarian Aid from Luxembourg will visit Vietnam from October 10th to 14th, 2007. During his visit, Minister Schiltz will visit Ho Chi Minh City, Hanoi and Hue.

Mr Schiltz, who is also Minister for Communications and Minister of Defence, will be accompanied by a delegation of representatives from Luxembourg Banker’s and Investment Fund Associations as well as of SES, Société Européenne de Satellites.
In Ho Chi Minh City, Minister Schiltz will hold talks with Mr. Le Hoang Quan, Chairman of the People’s Committee, to exchange views on the socio-economic development of Vietnam as well as other aspects of cooperation, more specifically the financial field.

He will also visit a project implemented by Handicap International, a project co-financed by the Luxembourg development cooperation.
In Hanoi, Minister Schiltz will have a working session with Mr. Vo Hong Phuc, the Minister of Planning and Investment to review past, present and future cooperation between Vietnam and Luxembourg. The Ministers will discuss the socio-economic development of Vietnam as well as harmonisation aid and making it more effective. They will also exchange views on a number of aid models and initiatives introduced by Vietnam including the “One UN” project. They will also discuss Vietnam’s middle-income status and how the Luxembourg development cooperation can be more effective and efficient in the future.
Minister Schiltz will also meet with Minister of Health, Mr. Nguyen Quoc Trieu. During this exchange, both ministers will review existing links in the health sector, but will also elaborate on how future cooperation can be best enhanced in a more systematic way. Minister Schiltz will hear his counterpart explain about the strategic priorities of the health sector and share his views on sector wide approaches.
With Minister of Finance, Mr. Vu Van Ninh, he will discuss the evolution of the financial sector and closer cooperation in this particular field. Over the years the Luxembourg Agency for the Transfer of Financial Technology (ATTF) has trained some 300 persons from the financial sector in different areas. The two Ministers will sign a bilateral protocol on a project to strengthen the development of capital markets in Vietnam. This project will cover different aspects, like the strengthening of the legal framework, the consolidation of public offerings and trading securities, IT information systems, as well as capital market supervision. This project will be implemented by the State Securities Commission of Vietnam, together with ATTF and Lux-Development, the Luxembourg agency for Development Cooperation.
In his capacity as Minister for Communications, Minister Schiltz will raise issues of common concern and mutual benefit with his counterpart Mr. Le Doan Hop, notably increased cooperation between Luxembourg’s business sector and Vietnam in mobile telecommunications and satellites. Minister Schiltz will be accompanied in particular by Mr. Jean-Paul Zens, Vice-Chairman of the Board of Directors of SES.
Minister Schiltz will also pay a courtesy call on the Prime Minister, Mr. Nguyen Tan Dung.
During his visit, two seminars will be organised in Ho Chi Minh City (October 10th) and Hanoi (October 12th) on Luxembourg’s position in the global financial market. These seminars, co-organised with the Ho Chi Minh Stock Exchange and sponsored by the Ministry of Finance, will provide an opportunity for the Luxembourg’s Bankers’ Association (ABBL) and the Association of the Luxembourg Funds Industry (ALFI) to present to the Vietnamese audience the full range of activities of Luxembourg’s financial centre. Mr. Fernand Grulms, Member of the Executive Committee of ABBL, will specifically present Luxembourg as a hub for international financial services whereas Mr. Robert Hoffmann, senior council of ALFI will present Luxembourg as a world leader in cross-border fund distribution.
The seminars will open to professionals in the banking and financial sector.
In Hue, Minister Schiltz will have talks with the provincial authorities and will visit the Hue Tourism School (HTS) that has been built as part of a 10-year development project for the tourism sector. He will stay at Villa Hue, a boutique hotel that was also built with funds from the Luxembourg development cooperation but is now run by HTS and gives the students the chance to gain first hand professional experience.
Minister Schiltz will also visit the outskirts of Hue and some of the less privileged people for whom the Luxembourg Development Cooperation is looking at ways of improving their living standards. (VOV)

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