Việt Nam actively engages in ASEAN financial,dormun vs banking initiatives

April 10, 2025 - 13:51 Your browser does not support the audio element. Key dialogues between ASEAN ministers and major business councils, including the US-ASEAN Business Council (US-ABC), the EU-ASEAN Business Council, and the ASEAN Business Advisory Council, focused on pressing economic issues, particularly concerns over the US's new tariff policies.

ASEAN Finance Ministers' Retreat on April 9 in Kuala Lumpur. — BERNAMA/VNA Photo

KUALA LUMPUR — Delegations from the Ministry of Finance and State Bank of Việt Nam (SBV) actively joined discussions at the 12th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting (AFMGM) in Kuala Lumpur, Malaysia, on April 9.

Leading the Vietnamese delegations, Minister of Finance Nguyễn Văn Thắng and SBV Deputy Governor Nguyễn Ngọc Cảnh, participated in key dialogues between ASEAN ministers and major business councils, including the US-ASEAN Business Council (US-ABC), the EU-ASEAN Business Council, and the ASEAN Business Advisory Council. These discussions focused on pressing economic issues, particularly concerns over the US's new tariff policies. ASEAN ministers received strong backing from the US-ABC, while conveying regional concerns to the US regarding the potential negative impact of its tariffs on Southeast Asian businesses.

At these sessions, Thắng affirmed Việt Nam's commitment to streamlining administrative procedures, accelerating decision-making processes, and ensuring regulatory consistency to foster deeper economic and financial integration within ASEAN. He said that amid global trade policy shifts affecting supply chains and investment flows, Việt Nam expects the US-ABC to serve as a crucial bridge between the US and ASEAN business communities and support regional economies in adapting to changes while promoting fair and sustainable trade.

Thắng also noted that Việt Nam supports ASEAN's sustainability priorities, and is actively joining the shaping of regional mechanisms such as the ASEAN Taxonomy for Sustainable Finance, the carbon credit market, and the measurement, reporting, and verification (MRV) framework to enhance transparency and accountability in emissions management.

Meanwhile, Cảnh underscored the importance of advancing digital payments for small- and medium-sized enterprises (SMEs), harmonising financial regulations, and developing cross-border digital infrastructure as key steps toward a more resilient and integrated ASEAN digital economy. He said it is necessary to combat fraud and financial scams, which remain critical challenges for the region.

On the sidelines of the meetings, Thắng and his delegation held bilateral discussions with those from the Lao Ministry of Finance, the US-ABC, and the Malaysian finance ministry and central bank. Meanwhile, the SBV delegation engaged in meetings with the US Department of the Treasury. — VNA/VNS

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