Vietnam: Asean finance ministers, central bank governors discuss monetary-financial integration

  • Vietnam
  • Saturday, 03 Oct 2020

Vietnamese dragon dancers perform at the Hoan Kiem lake in Hanoi on Saturday (Oct 3, 2020) as part of the city's preparation for a grand 1,010th anniversary celebration on Oct 10. Vietnam has not reported a local Covid-19 case for 31 days. - AFP

Hanoi, Oct 3 (The Vietnam News/ANN): The sixth Asean Finance Ministers and Central Bank Governors’ Meeting (AFMGM), the most important event in a series of regional finance-banking cooperation activities hosted by Vietnam this year, was held online in Hanoi on Saturday.

The AFMGM was co-chaired by Finance Minister Dinh Tien Dung and and Governor of the State Bank of Vietnam Le Minh Hung.

Participants discussed global and regional macro-economic situation, Covid-19 response policies as well as measures to support economic recovery following the pandemic. They also considered the launch of cooperation initiatives within the framework of the Asean monetary-financial integration roadmap.

Due to uncertainties caused by the pandemic, they highlighted the need to step up technological application and digital transformation in financial-banking services which, they said, would contribute to a sustainable regional economy resilient to shocks similar to COVID-19.

About regional financial cooperation initiatives, officials lauded progress made by working groups. On capital market development, they approved a report on promoting sustainable finance in Asean with valuable recommendations for member states.

They also acknowledged negotiation outcomes of the Working Group on Financial Services Liberalisation and the ninth package of financial commitments under the Asean Framework Agreement on Services.

The meeting adopted the draft revised Roadmap to the Asean Insurance Integration Framework, spoke highly of cooperation outcomes of working groups in the banking sector with almost all the targets set early this year being met.

Central bank governors also approved a number of cooperation initiatsean proposed by Vietnam, and the cyber security risk information sharing programme (CRISP), among others.

With high consensus, delegates approved a Joint Statement of the sixth AFMGM. which was presented by Le in a special press conference. - Vietnam News/Asian News Network

Meanwhile, Vietnam reported no new cases of Covid-19 infection on Saturday, as its total confirmed cases stood at 1,096 with 35 deaths from the disease so far, according to the Ministry of Health.

As many as 1,020 patients have been given all-clear as of Saturday, said the ministry.

Meanwhile, nearly 16,200 people are being quarantined and monitored in the country.

Vietnam has gone through 31 straight days without any Covid-19 cases in the community, according to the ministry. - Vietnam News/Asian News Network

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