East Asia financiers to meet in Hanoi

Vu Viet Ngoan, Chairman of the National Financial Supervisory Committee (NFSC), announced the plan at a press briefing in Hanoi on November 20.

He said financial stability and safety is an essential condition for enabling regional economies to grow steadily and stably. The conference will send the international community an unequivocal signal of Vietnam’s determination to restructure its economy and financial system.

Ngoan noted Vietnam hopes to demonstrate its responsibility for regional and international issues of mutual concern through the event.

The conference, entitled “Financial stability frameworks and supervision in changing environments”, will include a seminar and a plenary session.

The seminar will discuss three main themes: strengthening cautionary policies, improving financial safety standards, reinforcing financial foundations - crucial to East Asia’s stabilisation targets and financial stability in East Asia for sustainable economic growth in the region and the world.

The plenary session will talk about issues related to financial stability in East Asian financial stability in more detail, and encourage participants to share their experiences in financial supervisory roles and crisis response.

The conference will also focus on the timely exchange of economic information about the international financial market, the global situation’s impact on East Asian financial stability, the role of the regional East Asian economy in the global economic recovery, legal frameworks, appropriate models, and ideal supervisory and response capacity standards.

It will evaluate the condition of the East Asian financial market and encourage regional economies and international financial organisations to work in unison.