They also debated the outlook for the regional economy, ASEAN infrastructure, and connectivity initiatives, as well as the sustainable development program.

The COVID-19 pandemic has seriously impacted not only economic activities but also efforts to deal with regional development issues, they agreed.

Given this, the World Bank (WB) and the Asian Development Bank (ADB) have rolled out financial aid packages for regional countries. In addition, the G20’s Debt Service Suspension Initiative (DSSI) has been expanded, helping 43 countries and territories defer USD 5 billion in official debt service payments.

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The 24th ASEAN Finance Ministers’ Meeting was held online on October 2.

A representative from the Vietnamese Ministry of Finance highlighted its country's efforts in completing solutions towards sustainable development, saying the Vietnamese Government will pay more attention to infrastructure development, social welfare, and climate change response.

Vietnam will continue to exchange information and use aid packages effectively and transparently, he pledged.

Delegates lauded Vietnam’s initiative to build a roadmap for the development of the ASEAN capital market with four priorities: intensifying platforms, developing products, accessing untapped areas, and enhancing awareness, capacity, and connectivity.

Source: VNA