Representatives of the Vietnamese Ministry of Finance and Microsoft Viet Nam at the memorandum of understanding signing ceremony in Ha Noi. The US corporation will transfer new technologies for the ministry and help improve its IT infrastructure. — Photo courtesy of MOF

HA NOI (Biz Hub) — The Vietnamese Ministry of Finance (MOF) recently signed a memorandum of understanding (MOU) with Microsoft Corporation to obtain a new technology transfer from the US software giant.

According to the MOU, Microsoft will develop an internal portal for the finance industry, provide online public services and improve the information technology infrastructure for cloud computing.

Speaking at the signing ceremony, Dang Duc Mai, Director of the Department of Informatics and Financial Statistics under the Ministry of Finance, said he appreciated the constant support his agency has received from Microsoft in consulting and updating technologies.

"Through the MOU, the ministry will continue to cooperate closely and effectively with Microsoft in exploiting business intelligence (BI) solutions and cloud computing to raise the capacity of IT in the finance industry. This helps local people and enterprises to gain more benefits from modernized public services," he said.

Microsoft Vietnam general director Vu Minh Tri said that when stepping into the Vietnamese market, the corporation had committed to help the government, organisations, enterprises and local residents to take advantage of technology.

"The MOU signed today expresses its commitment to assist Viet Nam to keep pace with regional countries on IT applications in all sectors, in general, and in finance, in particular," he said.

The MOF signed its first memorandum of understanding with Microsoft in 2006 to transform its technology and receive consulting solutions for the state agency. — VNS