More than 200 delegates from the ASEAN Valuers Association (AVA) and the Republic of Korea, China, the UK and Australia are attending the 18th AVA Congress in the central province of Khanh Hoa’s Nha Trang city.

Addressing the opening ceremony on April 25, Deputy Finance Minister Tran Van Hieu said AVA needs to agree upon valuation trends to ensure consistency now that ASEAN’s economic integration is widening.

It should also make decisions on its action programmes and cooperation plans to make it a strong and prestigious association around the world, he said.

According to Leon Cheneval from Australia, it is now necessary for AVA to train valuers and support developing countries to build the best valuation standards.

Professor Le Cong Thanh, Vice Chairman of the Vietnam Valuation Association, suggested the Government issue specific legal regulations to foster its valuation services.

The two-day event will also elect a new AVA Secretary General and decide on action plans and programmes for the 2014-2016 tenure. Cambodia will replace Vietnam as AVA Chair in the new term.

Established in 1981, AVA aims to strengthen cooperation and mutual understanding between ASEAN members, creating an organisational framework for regional cooperation in valuation.-VNA