Between April 2-5, 2019, Deputy Governor Nguyen Thi Hong of the State Bank of Vietnam (SBV) headed a delegation to attend the ASEAN Central Bank Governors’ Meeting (ACGM), ASEAN Finance Ministers’ and Central Bank Governors’ Joint Meeting (AFMGM) and a series of related events, which were organized in Chiang Rai, Thailand. This is the most important annual forum for ASEAN Finance Ministers and Central Bank Governors to discuss about polices and orientations for the regional banking and finance integration.
Within the framework of the ACGM, on April 3, 2019, Deputy Governor Nguyen Thi Hong also headed a delegation to attend the ASEAN Central Bank Deputy Governors’ Meeting (ACDM). At the meeting, the Central Bank Deputy Governors exchanged their views about cooperation priorities for the year 2019, which were recommended by the host country Thailand, with the main schemes of: (i) Connectivity); (ii) Sustainability; (iii) Resilience. The policy dialogues aimed at creating an engine and environment for effective investment in the ASEAN region.
About financial integration in the region, the ASEAN Central Bank Deputy Governors acknowledged the efforts of the Technical Working Groups in the implementation of the initiatives with many encouraging results in accordance with the ASEAN Community Vision 2025. The Deputy Governors believed that the ASEAN members would be able to better manage the process of implementing the cooperation initiatives and attain their objectives as set in the Strategic Action Plan (SAP) for ASEAN Financial Integration, creating a solid ground for the comprehensive and sustainable development of the ASEAN finance and banking sector.
The ASEAN Central Bank Deputy Governors also exchanged their views on emerging issues in the region, such as (i) Framework of cyber security; (ii) Enhancing trade and investment among ASEAN member countries; (iii) Connecting financial and payment services; (iv) Developing finance and banking sector sustainably and inclusively.
Speaking at the meeting, Deputy Governor Nguyen Thi Hong said that the ASEAN central banks and the bank systems have played an active role in implementing the Sustainable Development Goals (SDGs) as adopted by the world leaders. One of the many areas that the ASEAN central banks could study and enhance is support for poverty reduction through financial inclusion and green credit.
Deputy Governor Nguyen Thi Hong takes a photo with ASEAN Central Bank Deputy Governors in Chiang Rai, Thailand
In addition, the SBV Deputy Governor applauded the initiative of establishing an ASEAN cyber security information sharing platform with the aim of setting up a strategic and professional channel for IT Directors of the ASEAN Central Banks to exchange about cyber risks.
The Deputy Governors believed that with the mutual efforts and open thinking in the regional integration as well as the advantages of opportunities in the digital era, the finance and banking sector would achieve great successes towards developing a cohesive and prosperous ASEAN community.
On the side of the Meetings, Deputy Governor Nguyen Thi Hong also had a bilateral meeting with the US Department of the Treasury delegation and participated in the joint discussion of the ASEAN Central Bank Deputy Governors and Finance Deputy Ministers with the U.S. and the EU-ASEAN Business Council.
Deputy Governor Nguyen Thi Hong has a meeting with the US Department of the Treasury delegation
Le Hang