Vietnam makes positive contribution to augmenting ASEAN financial cooperation
VOV.VN - Vietnam has actively participated in the ASEAN financial co-operation process since 1995, with this being viewed as the most extensive financial collaboration channel of the nation.
As a member, Vietnam has joined with other countries in order to build and implement multi-field co-operation activities of the financial industry.
Vietnamese Deputy Minister of Finance Vo Thanh Hung made the statement during a recent media interview held on the sidelines of the 10th ASEAN Finance Ministers and Central Bank Governors Meeting (AFMGM) and related meetings, which are underway from August 22 to August 25 in
in Jakarta, Indonesia.
According to Deputy Minister Hung, a prominent highlight in regional financial linkages is that the Ministry of Finance of Vietnam is taking on the role of the chair of the ASEAN Insurance Regulators’ Meeting (AIRM) for the 2023 to 2024 term.
Specifically, the country has worked alongside member states to outline operational orientations which seek to strengthen the bloc’s insurance ties, especially on sustainable insurance, with the aim of enhancing the role of the insurance industry in supporting regional sustainable development goals.
The 26th ASEAN Insurance Regulators’ Meeting is set to take place from December 5 to December 8 in Ha Long.
Deputy Minister Hung said that one of the nation’s priority areas for promotion is the in-depth liberalisation of financial services.
In addition, the country’s full commitment to opening up its financial services market is also among the top in the region.
Currently, the nation continues to actively participate in negotiating frameworks with the ultimate goal of building a transparent and deeply integrated ASEAN market.
The Vietnamese Deputy Minister affirmed that efforts to augment financial links in the bloc have made positive contributions to strengthening external relations, sharing experience, co-ordinating policies as a way of raising the national position, and supporting the policies of the Vietnamese financial sector.
He expressed great appreciation for Indonesia's proposal and said that this is an important series of conferences, deciding on issues that will guide the progress of ASEAN financial co-operation in the second half of 2023 to 2024.
This meeting serves as a stepping stone in which to further improve the overall effectiveness of regional financial ties, creating plenty of opportunities for ministers and governors to discuss, as well as allowing them to provide direct and specific instructions on activity direction of working groups aiming to achieve the plan adopted at the AFMGM in March.
Moreover, the meeting is also viewed as an opportunity to review the operation of the financial channel as a whole before reporting to the 43rd ASEAN Summit slated for September.
