Minister Dinh Tien Dung met with ASEAN General Secretary

Minister Dinh Tien Dung met with ASEAN General Secretary 19/09/2019 02:01:00 614

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MOF August 27, Minister Dinh Tien Dung had a meeting with Mr. Lim Jock Hoi - General Secretary of ASEAN and other members of the ASEAN Secretariat. Attending the meeting were representatives from relevant departments of the Finance Ministry.

MOF August 27, Minister Dinh Tien Dung had a meeting with Mr. Lim Jock Hoi - General Secretary of ASEAN and other members of the ASEAN Secretariat. Attending the meeting were representatives from relevant departments of the Finance Ministry.

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Minister Dinh Tien Dung welcomed ASEAN Secretary General Lim Jock Hoi

While welcoming Mr. Lim Jock Hoi - ASEAN General Secretary and his delegation, Minister Dinh Tien Dung highly appreciated the support of the ASEAN Secretariat for the development of ASEAN in general and the ASEAN Economic Community in particular in recent years.

Regarding the preparation for the ASEAN and ASEAN + 3 Meeting of Finance Ministers and the Governors of the ASEAN Central Bank, Minister Dinh Tien Dung said: In 2020, when Vietnam takes the role of Chairman for ASEAN, in finance and banking channels, the Ministry of Finance will work closely with the State Bank of Vietnam to fulfill the role of Chairman and Co-Chairwoman of the ASEAN and ASEAN + 3 Meeting of Finance Ministers and Central Bank Governors. (together with Japan). At present, the Ministry of Finance and the State Bank of Vietnam have developed the ASEAN/ ASEAN + 3 Financial Cooperation Scheme and are in consultation with Sub-Committees under the ASEAN National Committee 2020.

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Minister Dinh Tien Dung at the meeting

With regard to the ASEAN / ASEAN + 3 Financial Cooperation Process in 2020, the Minister said: Financial cooperation was one of the focal and pioneering issues in the integration of ASEAN countries, especially tax and customs areas. In the context of extensive integration in ASEAN region and Vietnam in particular, these issues were very important. Therefore, it was necessary to continue implementing the integration roadmap in capital market development, capital account liberalization; liberalizing financial services, promoting monetary cooperation, intra-regional trade and investment activities; strengthening policy dialogue at Ministerial level to share information, make recommendations at regional and national levels to cooperate in preventing crisis risks, strengthening policy coordination in dealing with the global financial crisis.

Minister Dinh Tien Dung also said that: In the world context with many fluctuations, countries need to have high-level dialogues to coordinate in finding responsive solutions. In addition, the favorable environment development facilitates the attraction of infrastructure investment in the region through measures such as cooperation with private and multilateral organizations on funding modalities for infrastructure projects, study and propose the establishment of the ASEAN Infrastructure Fund; enhance cooperation in other areas such as insurance, taxation, customs, strengthen resilience to prevent natural disasters, creat favorable trade conditions to improve national and regional competitiveness.

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Overview of the Meeting

According to the Minister, the ASEAN / ASEAN + 3 financial cooperation process in 2020 will be implemented on the basis of the approved Master Plan and Action Plan and the principles of inheriting the priorities of the chairing countries in previous years, overall balance with the common goal of Vietnam 2020: "ASEAN cohesion and proactive adaptation". Some priorities expected to be promoted by Vietnam in 2020 include the cooperation fields of customs, taxation, securities, liberalization of financial services, inclusive finance and financial security.

Within the framework of ASEAN + 3, Vietnam and co-chair of ASEAN + 3, Japan would work together to implement initiatives to Multilateral Chieng Mai Initiative (CMIM), Asia Bond Market Initiative (ABMI), promote the activities of the Regional Macroeconomic Research Agency (AMRO), and make recommendations on both content and modalities to improve the efficiency of the process. In order to fulfill the chairing role in the ASEAN and ASEAN + 3 financial cooperation channel, Minister Dinh Tien Dung wished to receive the active support of the ASEAN Secretariat and Mr. Lim Jock Hoi personally

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General Secretary Lim Jock Hoi at the meeting

Speaking at the meeting, Mr. Lim Jock Hoi said that the financial sector has created an important framework and transmission channel for the development of the ASEAN community. The Secretary General of ASEAN also expressed his impression on the preparation of the Vietnamese Finance Ministry in organizing the ASEAN and ASEAN + 3 2020 Financial Cooperation Process and affirmed that the ASEAN Secretariat would work closely to organize the ASEAN progress in 2020. Since this was a process with many important and attractive goals in all areas.

“The ASEAN Secretariat is ready to work with ASEAN + 3 partners to implement the multilateral initiative, the Chieng Mai Initiative (CMIM), to strengthen the activities of the Regional Macroeconomic Research Agency ( AMRO) ”. Mr. Lim Jock Hoi emphasized.

Mr. Lim Jock Hoi said that the ASEAN Finance Ministers Meeting process has greatly supported the improvement of the ASEAN Single Window framework. This was a very important channel to promote intra-ASEAN trade and investment. Secretary General Lim Jock Hoi highly appreciated the efforts of the Ministers of Finance in general and the Vietnamese side in particular, thus promoting tax cooperation in ASEAN. The results of this cooperation process were very useful information for the business community of countries in the region./.

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Participants at the meeting

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Minister Dinh Tien Dung and ASEAN General Secretary Lim Jock Hoi exchanged

on the sidelines of the meeting

Mai Ly