Vietnam pushing regional payment connectivity in ASEAN

Deputy head of the Finance Ministry’s Department of International Cooperation Hoang Dieu Linh said that in line with the theme of Vietnam’s ASEAN Chairmanship, “Cohesive and Responsive ASEAN”, the Finance Ministry and State Bank of Vietnam have proposed two priority initiatives: “Sustainable finance in ASEAN” and “Promoting regional payment connectivity”.

At the press conference (Photo: VNA)

During the meeting, ASEAN finance ministers and central bank governors will review the progress of the Roadmap for Monetary and Financial Integration of ASEAN and initiatives within the framework of the AFMGM Process.

Discussions with leaders of international finance organisations regarding the global and regional macro-economic situation as well as policies to cope with COVID-19 and recover the regional economy will also be held.

A joint statement is expected to be released at the end of the event reflecting their stance on regional and global issues and updating the outcomes of ASEAN finance-banking cooperation and providing orientations for cooperation activities in the near future.

The 24th ASEAN Finance Ministers’ Meeting, the 16th ASEAN Central Bank Governors’ Meeting, and the Meeting of Deputy Finance Ministers and Deputy Central Bank Governors will be also held at the same time.

On the sidelines of the AFMGM, ASEAN Finance Ministers and Central Bank Governors will hold a dialogue with business communities, including the ASEAN Business Community, the ASEAN - EU Business Community, and the ASEAN - US Business Community.

ASEAN Deputy Finance Ministers and Central Bank Deputy Governors will also hold a discussion with the US Deputy Secretary of the Treasury on issues of concern.

As Vietnam has assumed the ASEAN Chairmanship this year, it will co-chair the AFMGM and partner with regional member states to carry out financial-banking cooperation activities./.