Vietnam boosts finance cooperation with Australia, Japan, Singapore
VOV.VN - Minister of Finance Ho Duc Phoc expressed Vietnam’s desires to enhance finance cooperation with Australia, Japan and Singapore during his separate meetings with financial leaders of the three countries on the sidelines of the APEC Finance Ministers’ Meeting 2023 in San Francisco, USA, on November 12.
At the meeting with Jim Chalmers, Treasurer of Australia, the two sides discussed Australia’s Southeast Asia Economic Strategy to 2040, and bilateral cooperation on climate change and sustainable finance. They also worked on measures to promote a memorandum of understanding on financial cooperation between the Ministry of Finance of Vietnam and the Treasury of Australia.
Phoc affirmed that Vietnam attaches importance to the strategic partnership with Australia. He highly appreciated the Australian Government’s prioritized support for climate change adaptation in the Mekong Delta during the 2023-2034 period, as well as its enhanced capacity building for Vietnamese financial officials on policy making to establish carbon markets in Vietnam.
Phoc expressed hope that the two sides would continue to strengthen cooperation in the fields of climate finance, energy transition finance, carbon markets and green bonds in the coming time.
The two sides agreed to further strengthen bilateral cooperation to improve capacity and share experience in financial and budget management such as taxes, customs, securities, and capital markets through the signing of a memorandum of understanding for the new period.
Meeting with Japanese State Minister of Finance Katsuo Yakura, Minister Ho Duc Phoc affirmed that the extensive strategic partnership between Vietnam and Japan has been developing substantially in recent times. He proposed that the Japanese Government support the implementation of the new generation ODA program, with a primary focus on three key areas of transport infrastructure, agriculture, and health.
The two officials agreed that the Ministry of Finance of Vietnam and the Ministry of Finance of Japan have increased cooperation in the fields of taxation, customs, securities, insurance, and aid provision. The annual bilateral dialogue between the two ministries, launched in 2021, has achieved good results. The two sides pledged to further support each other at multilateral and regional cooperation forums.
At the meeting with Indranee Rajah, Singapore’s Minister for Finance, the two sides highly appreciated bilateral cooperation between the two economies, in which financial cooperation is a major pillar, focusing on customs modernization, e-customs, and stock market management.
They shared the view that Vietnam and Singapore are both active members in regional financial cooperation mechanisms such as ASEAN and ASEAN+3. The two countries’ leaders also coordinate closely in working committees and working groups regarding cooperation in taxation, customs, insurance, financial service liberalization, and capital market development. They also coordinate in ASEAN+3 cooperation initiatives such as the Chiang Mai Initiative Multilateralization (CMIM); Asian bond markets initiative (ABMI); and ASEAN+3 Macroeconomic Research Office (AMRO), along with other new initiatives.
The two sides pledged to promote the implementation of free trade agreements between ASEAN and its partners, facilitate trade and investment, and actively participate in the global supply chain.
