At the 27th AFMM on March 31, officials listened to a report on the implementation of financial cooperation activities within the frameworks of the ASEAN working group on infrastructure financing, insurance cooperation, disaster risk financing and insurance, customs cooperation, and anti-money laundering and counter-terrorism financing, along with the ASEAN Tax Forum and the ASEAN Capital Markets Forum.

Deputy Minister of Finance Vo Thanh Hung (left) attend the 9th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting in Bali, Indonesia.

In his speech, Deputy Minister Vo Thanh Hung made assessments and recommendations about the outcomes of and orientations for activities of the working groups.

He also informed participants about Vietnam’s hosting of the 26th ASEAN Insurance Regulators’ Meeting (AIRM) in late 2023.

At a session on the global and regional macro-economy as part of the 9th AFMGM later the same day, ministers and governors exchanged views about the regional economic situation with leaders of international financial organizations, as well as updates about economic recovery measures.

Hung presented Vietnam’s economic and financial development results in 2022, as well as challenges its economy is facing such as inflationary pressure and export growth slowdown due to weaker demand from large trading partners.

In 2023, the Vietnamese Government maintains emphasis on sustaining the macro-economy, promoting growth, and effectively controlling the COVID-19 pandemic and new disease outbreaks. The country will continue stepping up the legal system perfection, administrative reform, and e-Government building, he added.

At the event, participating officials adopted a joint statement of the 9th AFMGM.

The finance minister and the central bank governor of Indonesia proposed another AFMGM be held in Jakarta this August.

On March 29, ministers and governors took part in the ASEAN, ASEAN - U.S., and ASEAN - E.U. business dialogues to discuss enterprises’ concern about digital transformation financing and sustainable financial development.

Finance ministers also held a retreat on March 30 to look into issues of common concern.

Source: VNA