The recent international conference on East Asia financial stability produced four proposals on the establishment of a regional forum to transform ideas into reality, a senior finance official has said.
Vu Viet Ngoan, Chairman of the National Financial Supervisory Commission, made the statement at a press briefing in Hanoi on November 28 following the closing of the two-day international conference, the first of its kind hosted by Vietnam.
The idea of establishing the East Asia Financial Stability Forum was supported by other countries’ representatives, and was among a number of initiatives suggested by Vietnam, Ngoan said.
Vietnam plans to set up a working group to discuss the formation of a concrete programme to build the forum, he added.
Ngoan went on to say that participants drew an overview of financial reform and considered related matters. Non-performance debt was scrutinised, which needs to be resolved as soon as possible.
Entitled “Financial stability frameworks and supervision in changing environment”, the event saw the participation of leaders of financial ministries and financial supervisory agencies from 14 East Asian and global economies.
Discussions concentrated on the current global economy and international financial market, impact on the stability of the East Asian financial market and the role of East Asia’s economy in the global economic recovery.-VNA
Vu Viet Ngoan, Chairman of the National Financial Supervisory Commission, made the statement at a press briefing in Hanoi on November 28 following the closing of the two-day international conference, the first of its kind hosted by Vietnam.
The idea of establishing the East Asia Financial Stability Forum was supported by other countries’ representatives, and was among a number of initiatives suggested by Vietnam, Ngoan said.
Vietnam plans to set up a working group to discuss the formation of a concrete programme to build the forum, he added.
Ngoan went on to say that participants drew an overview of financial reform and considered related matters. Non-performance debt was scrutinised, which needs to be resolved as soon as possible.
Entitled “Financial stability frameworks and supervision in changing environment”, the event saw the participation of leaders of financial ministries and financial supervisory agencies from 14 East Asian and global economies.
Discussions concentrated on the current global economy and international financial market, impact on the stability of the East Asian financial market and the role of East Asia’s economy in the global economic recovery.-VNA
