VDATC deputy general director Pham Manh Thuong (standing) addresses the press meeting on November 13 (Photo: VNA)

Hanoi (VNA) – The Vietnam Debt Asset Trading Corporation (VDATC), in collaboration with the Asian Development Bank, will organise the 4th International Public Asset Management Company Forum (IPAF) from November 14-15.

VDATC deputy general director Pham Manh Thuong told the press on November 13 that the forum aims to improve capacity of the IPAF members, policy-makers and experts, contributing to stability of the regional economy. The IPAF will work to fortify its mechanism in response to economic crisis, thus promoting the recovery ability of the economy.

Thuong said that the annual summit meeting slated for November 14 will look to finalise the agenda of the international conferences and issue joint statement which defines IPAF activities in its new term.

The meeting will officially ratify the admission of the Vietnam Asset Management Company (VAMC) as a new IPAF member.

An international conference on November 15 will gather foreign and domestic experts who will discuss Asia’s economy-finance, finance security and mechanisms to handle bad debts.

They will conduct analysis on influential factors as well as market trend of bad debt settlement, which serves as a base for member states to build effective public asset management mechanisms. Also, they will recommend policies on bad debt and bad asset settlement, as well as finance security improvement to the governments as part of efforts to ensure stability of regional and national economies, he added.

Conceptualized at the conclusion of the Hanoi Conference on April 23, 2012, co-hosted by ADB, the Finance Ministry, and the Korea Asset Management Cooperation (KAMCO), the International Public Asset Management Company Forum (IPAF) was formally launched on May 27, 2013 through the initiative of seven public asset management companies (AMCs) from China, Kazakhstan, the Republic of Korea, Thailand, and Vietnam as founding members.

IPAF was established to provide opportunities for collective actions to address regional economic issues through knowledge sharing and partnership development among its members. To date, IPAF has 13 member institutions.-VNA