CATEGORIES

© Copyright 2004; Hanoitimes - Economic and Urban Newspaper;

The tribune of Hanoi People’s Committee

Publication Permit: 29/GP-CBC

Editor - in - Chief: Nguyen Thanh Loi

Managing Editor: Ta Thu Giang

Email : thugiang@hanoitimes.vn

Head Office: 21 Huynh Thuc Khang Street, Dong Da District, Hanoi

Branch Office: 221 Tran Phu Street, Ha Dong District, Hanoi

WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / News
APEC 2017 Finance Ministers’ Meeting wrapped up
Trung Kien - Nhu Huong 16:22, 2017/10/23
The 24th APEC Finance Ministers’ Meeting – the most important event of the APEC Finance Ministers Process - closed in Hoi An ancient city in the central province of Quang Nam on October 21 after issuing a joint ministerial statement.
 
The overview of 24th APEC Finance Ministers’ Meeting in Quang Nam
The overview of 24th APEC Finance Ministers’ Meeting in Quang Nam

On the sidelines of the APEC 2017 Finance and Central Bank Deputies’ Meeting in Hoi An, Deputy Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong stated that over the past year, the SBV has closely coordinated with relevant ministries and agencies, APEC member economies, and international organisations in holding numerous effective and practical activities, especially conferences and forums on different aspects of financial inclusion.

Hong has said that Vietnam needs experience shared by APEC member economies to promote financial inclusion. The central bank will study the APEC economies’ practices to serve the development of a national strategy on financial inclusion, she added.

According to her, the strategy should highlight the central role of customers, focusing on those who come from vulnerable groups such as the poor, people living in remote areas, women and small- and medium-sized enterprises.

While implementing the strategy, it is necessary to use financial technology (Fintech) to boost financial inclusion, especially in the context of the booming fourth Industrial Revolution, she said.

Hong also stressed the need to promote cross-border credit information exchange, saying that the building of a successful cross-border credit information exchange model will contribute to ensuring equality and transparency in investment cooperation, as well as minimising risks from unbalanced information.
 
Delegates at 24th APEC Finance Ministers’ Meeting
Delegates at 24th APEC Finance Ministers’ Meeting

 
Sharing the opinion, Finance Minister Dinh Tien Dung said that financial inclusion is an important content to be submitted to the upcoming APEC Economic Leaders’ Meeting in Da Nang city in November.

As the host of APEC 2017, Vietnam has proposed and received high unanimity of APEC members on four priority themes in the financial sector, including Long-term Investment in Infrastructure, Base Erosion and Profit Shifting, Disaster Risk Financing and Insurance, and Financial Inclusion.

Participants to the meeting discussed the outcome of cooperation in long-term investment in infrastructure and adopted a policy statement on diversifying financial resources and promote the private sector’s engagement in infrastructure investment in APEC economies, he said.

Financial investment in infrastructure is an immediate as well as mid- and long-term target to serve sustainable economic development, he said, adding that the APEC Finance Ministers reached consensus on financial mechanisms and policies to attract resources from the State and other economic sectors, both at home and abroad, to infrastructure investment.

Established in 1989, the Asia-Pacific Economic Cooperation (APEC) Forum comprises 21 economies, including Australia, Brunei, Canada, Chile, China, Hong Kong (China), Indonesia, Japan, the Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Chinese Taipei, Thailand, the US, and Vietnam.
Comments
Other news
22:28, 2025/01/24
Vietnam news in brief - January 25
Read the Hanoi Times to keep up with the latest developments in Vietnam.
20:47, 2025/01/22
Vietnam news in brief - January 22
Stay up to date with the latest news from The Hanoi Times.
20:53, 2025/01/21
Vietnam news in brief - January 21
Read The Hanoi Times for more updates about Vietnam and its capital.
08:58, 2025/01/21
Vietnamese leaders congratulate President Donald Trump on inauguration day
Vietnamese leaders expressed confidence that, under Trump's leadership, the partnership would continue to grow based on mutual respect for independence, sovereignty, and political systems.
23:10, 2025/01/20
Vietnam, Czech Republic issue Joint Statement on elevating ties to Strategic Partnership
Prime Minister Pham Minh Chinh and Prime Minister of the Czech Republic Petr Fiala have issued a Joint Statement, upgrading Vietnam-Czechia relations to a Strategic Partnership during the Vietnamese Prime Minister's official visit to the Czech Republic, from January 18 to 20.
21:52, 2025/01/20
Vietnam news in brief - January 20
Read The Hanoi Times news in brief to get the latest updates on the country.