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APEC delegates applaud Vietnam’s financial cooperation priorities

Delegates attending the APEC Senior Finance Officials’ Meeting (SFOM) in Ninh Binh voiced their support for the host country’s priorities in implementing the Finance Ministers’ Process.
APEC delegates applaud Vietnam’s financial cooperation priorities ảnh 1At the meeting (Photo: VNA)
Hanoi (VNA) - Delegates attendingthe APEC Senior Finance Officials’ Meeting (SFOM) in the northern province of NinhBinh voiced their support for the host country’s priorities in implementing theFinance Ministers’ Process.

The four priorities include long-term investments in infrastructure;disaster risk financing and insurance; base erosion and profit shifting; andfinancial inclusion adopted at the Finance and Central Bank Deputies Meeting heldin Khanh Hoa province’s Nha Trang city last February.

APEC delegates applaud Vietnam’s financial cooperation priorities, Head of Division forInterregional Economic and Finance Cooperation under the Indonesia Ministry ofFinance told Vietnam News Agency (VNA) reporters that his country backs Vietnam’sfour priorities and other APEC member economies comply with the action plan.

Sharing the same view, Andrew F.Oaeke, First Assistant Secretary of Macro Economic Policy Division under PapuaNew Guinea’s Department of Treasury, said his country is working on base erosion and profitshifting, digital economy and continuing investment in infrastructure.

Both of them agreed that thougheach country has its own agenda, structural reform is a key issue to implementthese priorities in order to reduce the harmfulness of such global problems as baseerosion and benefit shifting and to share benefits to all economies.

Dr. Vu Nhu Thang, Director of theInternational Cooperation Department under the Ministry of Finance who doubledas SFOM Chair 2017, said the priorities initiated by Vietnam are included inthe Cebu Action Plan adopted at the Finance Ministers’ Meeting in thePhilippines in 2015.

They also have a close connection to the APEC 2017 main themes of “Creating NewDynamism, Fostering a Shared Future” hosted by Vietnam, he added.

Last but not least, the foursubjects are among Vietnam’s priorities in the implementation of its socio-economicdevelopment tasks for the 2010-2020 period, he said.-VNA 
VNA
#APEC #SFOM #priorities #Finance Ministers' Process #investment #infrastructure #disaster risk #financing #insurance #bank #cooperation #economies #socio-economic development
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