In the framework of APEC 2017 Finance Ministers’ Meeting in Hoi An , Vietnam, the APEC 2017 Finance and Central Bank Deputies’ Meeting was organized on October 20, 2017. SBV Deputy Governor Nguyen Thi Hong led the delegation of Vietnam and chaired the fifth session on financial inclusion.
At this session, three presentations were delivered, including: (i) the presentation delivered by representative of the host, Vietnam, reviewing operations and main results obtained in the year of APEC 2017, (ii) the presentation by representative from ABAC/FDC, reviewing cooperative substances in 2017 in the framework of APEC and relevant policy recommendations to improve APEC cooperative efficiency in the coming time; (iii) presentation by representative from BTCA/UNCDF on researching report “the role of digital payments in ensuring food security and developing sustainable agriculture”. Moreover, a number of representatives from APEC member countries, namely Papua New Gunea, Malaysia, Indonesia, Philippines and etc shared their experience in cooperation and implementation of financial inclusion.
On the basis of ideas and comments from the attendants, Deputy Governor Nguyen Thi Hong concluded the session.
She said about the acknowledgement and high appreciation of the contribution of ABAC /FDC, BTCA/UNCDF, WB/IFC, ADB/ADBI, OECD and other international organizations to the development of financial inclusion over the past years, especially in 2017. She also stated that thanks for the contribution, there were several products to be reported at this session, including (i) report on recommendations for concentrating on 8 topics with the aim of enhancing the effectiveness of implementing financial inclusion; (ii) report on the role of digital payments in ensuring food security and developing sustainable agriculture; and (iii) draft Framework of Agreement on sharing cross border credit information. These documents were approved by APEC economies to be reported to the Finance Ministers.
At the same time, Deputy Governor Nguyen Thi Hong said: “the cooperation among APEC member economies as well as with other international organizations in the year of APEC 2017 obtains encouraging results, recognizing new step for APEC cooperative process of financial inclusion., the APEC 2017 Finance and Central Bank Deputies’ Meeting should report those results in the year of APEC 2017 to the APEC 2017 Finance Ministers’ Meeting for considering and enhancing cooperation to help APEC member economies develop financial inclusion appropriately, thereby effectively supporting rural and agricultural development, and contributing to inclusive growth and sustainable poverty reduction”.
Le Hang