Vietnam Social Security calls for WB’s help in fund investment
The Vietnam Social Security (VSS) asked for assistance from the World Bank (WB) and the International Finance Corporation (IFC) to its fund investment activities during a working session in Hanoi on November 13.
The working session between representatives of the VSS and the WB, the IFC on November 13 (Photo: laodong.vn)
Hanoi (VNA) – The Vietnam Social Security (VSS)asked for assistance from the World Bank (WB) and the International FinanceCorporation (IFC) to its fund investment activities during a working session inHanoi on November 13.
The two sides discussed the role of the VSS’sFund Investment Department, challenges and opportunities for this department,and expected reforms.
Briefing about fund investment and development,VSS Deputy Director General Nguyen Dinh Khuong pointed out the advantages anddifficulties facing his agency.
He noted that the VSS has been seeking ways tosimultaneously increase insurance participants, improve fund accumulationefficiency, ensure fund safety in the future, and cope with insurance frauds.
As a result, the fund investment structure hasbeen shifted towards a safe direction with an increase in the investment inGovernment bonds. Notably, the fund investment scale has been on the rise whileprofit from these activities has also been increasing year on year, he added.
Khuong asked the WB and the IFC to assist theVSS with how to analyse and select projects to invest in so as to maximiseprofit and minimise risks.
The VSS also called for more support to improveits specialised staff’s capacity in advising its leaders to make decisions withlong-term vision.
At the session, Alwaleed Alatabani, lead financialsector specialist at the WB, pledged that the WB will help the VSS to improvefund management and investment.-VNA
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The working session between representatives of the VSS and the WB, the IFC on November 13 (Photo: laodong.vn) 
