PM calls for strengthening policy coordination among APEC economies

Sunday, 22/10/2017 11:16
PM Nguyen Xuan Phuc suggested APEC member economies should continue efforts to strengthen cooperation, policy coordination while delivering his remarks at the 24th APEC finance ministers’ meeting held in Hoi An ancient city of Quang Nam province on October 21st.

The Government chief also called for practical measures to fruitfully implement priority policies and handle challenges in order to stabilize financial systems and achieve sustainable development.

Since introduction of reform process in 1986, Vietnamhas turned itself from a least developed country into a middle-income country in 2010.

Vietnam’s economy expanded 6.21 percent in 2016 and is expected to grow 6.7 percent this year. The market capitalization was estimated at 93 percent of the GDP, said PM Phuc.

(Photo source: VGP)
The Vietnamese Government expects the economy will grow from 6.5 to 7 percent per year on average, he added.

The aforesaid achievements were significantly attributed to the advancement of the country’s financial market, he affirmed.

The Government will continue restructuring the economy, especially the financial sector towards increasing the sector’s effectiveness and quality for sustainable and inclusive growth, PM Phuc affirmed.

The 24th APEC Finance Ministers’ Meeting and related meeting took place in Hoi An city from October 19th-21st with the participation of 300 delegates from 21 APEC economies as well as leaders of international institutions like the IMF, WB, and OECD.

APEC Finance Ministers issued a Joint Statement on October 21st, stating their views on a wide range of issues such as Global and Regional Economy, Cebu Action Plan, Long term Investment in Infrastructure, Base Erosion and Profit Shifting, Disaster Risk Financing and Insurance, Financial Inclusion, and other matters./.

CPV/VGP

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