Vietnam shares socio-economic recovery experience at ASEAN finance ministers’ meeting

VOV.VN- Minister of Finance Ho Duc Phoc shared the Vietnamese Government’s experience in implement its socio-economic recovery and development programme at the eighth virtual meeting of ASEAN finance ministers and central bank governor (AFMGM) on April 8.

On the sidelines of the event, officials held a dialogue alongside leaders of international financial organizations, namely the International Monetary Fund (IMF), the World Bank (WB), the Asian Development Bank (ADB), the Asian Infrastructure Investment Bank (AIIB), and the ASEAN 3 Macroeconomic Research Office (AMRO).

As part of his speech, Minister Phoc shared the Vietnamese Government’s experience in implementing a socio-economic recovery and development programme, reducing the environmental protection tax placed on fuels, and accelerating the COVID-19 vaccination campaign to create a basis for restoring economic activities.

Furthermore, various representatives of international organizations used the platform to present their assessments of the global and ASEAN macro-economic situation, including policy challenges amid lingering impacts of the COVID-19 pandemic, especially infection waves caused by the Omicron variant, in addition to political uncertainties in Europe.

Participants highlighted the bright outlook ahead for regional recovery, with growth projected to reach 5.2% this year, rising from 4% in 2021.

The ministers, governors, and leaders of international organisations outlined the view that vaccination remains the top priority, while adaptive fiscal and monetary policies continue to be crucial for economic recovery.

The same day saw the 26th ASEAN Finance Ministers’ Meeting provide an update on the progress of the implementation of financial co-operation activities within the framework of ASEAN committees.

The same day finance ministers and central bank governors also held a dialogue with ASEAN business communities and adopted the 8th AFMGM’s joint statement.