The Hanoitimes - Despite the instability of the financial
market in Vietnam and the world, the Vietnamese Government’s persists in
reforming the financial system and maintaining a steady growth rate fuelled by
sustainable development.
Prime Minister Nguyen Tan Dung
made the statement at the East Asian Financial Stability Conference in Hanoi
on November 27.
It is the first international
conference on financial stability and macro-economic supervision hosted by
Vietnam.
The event, themed “Financial
stability frameworks and supervision in changing environments”, attracted
nearly 400 delegates including financial experts, authorities from the world’s
leading banks, and international financial representatives from 14 economies in
East Asia and around the world.
In his opening speech, PM Dung
said the conference serves as a forum for managers and policymakers to share
experiences, exchange research results, and propose initiatives and
recommendations to promote stability and sustainable development in Vietnam in
particular and the world in general.
The event will also contribute to
strengthening cooperative relations between supervisory agencies within East
Asia and other regions around the globe, he said.
PM Dung affirmed East Asia’s key
role as a driving force behind the global process of economic development.
He emphasised the inevitability
of the trend requiring leaders, financial policymakers, and supervisory
agencies to continue along their reform roadmaps, reinforce policy
coordination, and monitor the financial market effectively to build safer and
more sustainable financial systems in the East Asian region.
Dung highlighted Vietnam’s
achievements recorded during its Doi Moi (Renewal) process. He outlined the
restructuring orientations of Vietnam’s modernisation and industrialisation
process in the interests of rapid and sustainable development.
The Government leader reiterated
the focus of the financial market restructuring program comprises reforming the
banking system, upgrading financial infrastructure, and renovating the
mechanisms of financial stability and supervision in accordance with
international standards.
He stressed the need to
strengthen coordination in the region and the world, especially in relation to
financial supervision. He also highlighted the role of international financial
organisations in effectively coping with the challenges arising from
international economic integration and globalisation.
During the two-day conference,
delegates conducted debates with themes relating to maintaining policy caution
and improving financial safety norms. They also discussed basic solutions to
the problems of protecting market stability in East Asia and the world.
One of the conference’s goals is
to establish a regular financial stability forum in East Asia.
The event was co-organised by the
National Financial Monitoring Committee, the Office of the Government, the
State Bank of Vietnam, and the Ministry of Finance.
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