At the 10th ASEAN Finance Ministers and Central Bank Governors’ Meeting (AFMGM) held in Jakarta. (Photo: VNA) Jakarta (VNA) – Deputy Minister of Finance Vo ThanhHung, who led a Vietnamese delegation to the 10th ASEAN Finance Ministers andCentral Bank Governors’ Meeting (AFMGM) held in Jakarta, said that Vietnam hasactively participated in the ASEAN financial cooperation process since 🥃1995.
The ASEAN meeting is the most extensive financial cooperationchannel of Vietnam so far, he said, adding that Vietnam has joined othercountries to build and implement multi-sectoral cooperation activities in thefinancial industry. Talking to the Vietnam News Agency's resident reporter in Indonesia on thesidelines of the 10th AFMGM and related meetings taking place from August 22-25, Hung said that a highlight in Vietnam’sregional financial cooperation is that the Finance Ministry is the chair ofASEAN Insurance Regulators’ Meeting (AIRM) for the 2023-2024 term. Specifically, Vietnam has worked with other ASEAN membercountries to develop orientations to strengthen ASEAN insurance cooperation,especially on sustainable insurance, to enhance the role of the insuranceindustry in supporting regional sustainable development goals. The 26th AIRM is expected to take place from December 5-8, 2023in Vietnam’s Ha Long city. Hung said that one ofVietnam's priority areas is the in-depth liberalisation of financial services.Vietnam's commitment to opening up its financial service market is also amongthe top in the region. Currently, Vietnam is continuing to actively participate innegotiating frameworks to build a transparent and deeply integrated ASEANmarket. He affirmed that efforts to promote financial cooperation inASEAN have made positive contributions to strengthening external relations,sharing experiences, coordinating policies, enhancing the nation's position,and supporting the implementation of financial policies in Vietnam. Regarding the 10th AFMGM, the Vietnamese official said that themeeting had completed planned tasks. A series of meetings within the 10th AFMGM framework contributedto enhancing regional financial cooperation.For its part, Vietnam reviewed the activities of working groupsin the ASEAN monetary and financial integration roadmap that aims to enhancecapital market development and further liberalise regional financial services.The country also had very specific dialogues with representatives ofinternational organisations to assess the regional and the world’s macroeconomyin the current volatile context.
Hung also highly appreciated Indonesia's initiative instrengthening inter-ministerial/sඣectoral coordination, particularly theorganisation of the first ASEAN Finance Ministers and Health Ministers'Meeting.
Hung also appreciated the organisation of the first meeting ofASEAN treasury leaders to discuss the establishment of the ASEAN TreasuryForum.
Hung said the establishment of 🌳the forum will be an important move tohelp the ASEAN soon develop and implement extensive cooperation and integrationactivities in the treasury sector on issues of common concern such as treasurymanagement and public finance, digitalisation of public financial management,or support for sustainable financing./.
