Vietnam organizes World Savings Day Week for the first time

On the morning of October 30, in Hanoi, Chairman of the Vietnam Fatherland Front Committee Nguyen Thien Nhan launched the Week in response to World Savings Day 2016 in Vietnam.

Chairman of the Vietnam Fatherland Front Committee Nguyen Thien Nhan launched the Week in response to World Savings Day 2016 (Photo: KT)

This is a program organized by the Central Committee of the Vietnam Fatherland Front in coordination with the Vietnam Women's Union and the State Bank of Vietnam, with the theme "​Saving today - Bright tomorrow", the Week responding to Savings Day targets the target group of women, children, students - those who play an active role in promoting the saving movement.

Launching the Vietnam Savings Week in response to World Savings Day, Politburo member and Chairman of the Central Committee of the Vietnam Fatherland Front Nguyen Thien Nhan expressed his emotion at the image of a woman who, with only a job selling scrap metal, with the will to rise up, determination to change her life and the spirit of saving, became a business owner. This has demonstrated the strength and will of Vietnamese women.

Sharing the experiences of Japan, Finland, India... in saving, Mr. Nguyen Thien Nhan cited the history of World Savings Day, which was first held on October 31, 1924 with the goal of raising awareness and promoting saving activities of the whole society and said that today many people seem to have forgotten World Savings Day because the awareness of saving has become popular but the meaning of this Day still has long-term value.

Speakers discussed the importance of savings, creating capital to contribute to poverty reduction, and promoting the country's economic development (Photo: KT)

According to Mr. Nguyen Thien Nhan, Vietnam is a country with high savings capacity. According to international assessment, Vietnam has a fairly high rate of households saving in the world. With only savings of 5,000 to 10,000 VND/month, in 5 years (2012-2016), 11 million women members have created a savings fund of over 6,000 billion VND, supporting 1.5 million women to borrow capital to escape poverty sustainably.

Mr. Nguyen Thien Nhan emphasized that the urgent requirement of the nation is to save and fight waste. Among them, corruption is the most terrible kind of waste. For the country, for the future of their own family, each citizen needs to have a resolute attitude towards waste and corruption.

Besides, Mr. Nguyen Thien Nhan suggested that ministries, departments, branches, and organizations, including the Vietnam Women's Union, need to continue to think of initiatives and promote emulation in saving because, saving today, for a bright tomorrow, for the smiles of all Vietnamese people.

Also at the ceremony, the Organizing Committee presented savings books to 28 poor female students who overcame difficulties from the Women's Academy and the Banking Academy.

Within the framework of the Week of responding to World Savings Day 2016 in Vietnam, programs such as the Savings - Investment and Consumption seminar; the distribution of 15,000 handbooks on saving and financial management to women in 63 provinces and cities nationwide... were also carried out by the Organizing Committee.

The organizers give savings books to poor female students who overcome difficulties (Photo: KT)

Through these activities, the three co-organizers hope to raise awareness in society about the importance of savings and forms of savings; especially in mobilizing idle money from the community, creating capital sources, contributing to poverty reduction, promoting the socio-economic development of the country; at the same time, strengthening the trust of the community and people in the national financial and banking system...

First held in 1924 in Italy, World Savings Day aims to raise awareness and promote savings activities in the whole society, with the core being financial savings to create abundant resources for socio-economic development. This is the first year Vietnam has organized activities in response to this holiday.

According to Investment