On December 5, 2022, in Siem Reap (Cambodia), Deputy Governor Pham Tien Dzung of the State Bank of Vietnam (SBV) attended the SEACEN Governors’ Conference/High-Level Seminar and the 42nd SEACEN Board of Governors (BOG) Meeting, together with Governors and Deputy Governors of 19 member central banks/Monetary Authorities of SEACEN member countries, as well as Ms. Christine Lagarde, President of the European Central Bank (ECB), Dr. Luiz Pereira da Silva, Deputy General Manager of the Bank for International Settlements (BIS), and representatives from the International Monetary Fund (IMF).
Deputy Governor Pham Tien Dzung attends the 42nd Meeting of the SEACEN Board of Governors.
Sharing at the Conference, the speakers assessed that the Asia and Pacific region is facing many challenges from the tightening of the global financial conditions, the geo-political conflicts, and a slowdown in China’s growth rate. However, the economic outlooks in the region are still positive as compared to the global common trends. Moreover, it was also shared by the speakers that the high inflation rates are among the biggest policy challenges that central banks are facing, and it requires timely responses from the central banks in the fields of policy communication and directing market expectations.
In addition, in the context of climate change causing further challenges and risks on central banks in controlling the inflation and maintaining the financial stability, the speakers agreed that central banks should: (i) enhance the risk management; (ii) proactively formulate plans to direct the banking sectors toward green and sustainable development, (iii) strengthen the publicity and transparency of information and statistics; (iv) promote the cooperation between the public and private sectors in order to encourage the participation of the private sector. Apart from extending the scope of climate-related support, it is necessary to effectively manage and allocate the climate-related capital resources, as well as to ensure the national capacity of effectively using those resources.
The 42nd Meeting of the SEACEN BOG also adopted the programs for training, researches and the budget plan for 2023. At the Meeting, the participants praised the SBV for having fulfilled successfully its role as SEACEN Chair in 2022, which has been reflected through the encouraging results in SEACEN activities in 2022. On behalf of Governor Nguyen Thi Hong of the SBV, Deputy Governor Pham Tien Dzung expressed his sincere thanks to the Managing Director and other members of SEACEN for having supported the SBV to fulfill its role as SEACEN Chair in 2022. On this occasion, Deputy Governor Pham Tien Dzung also handed over the role of SEACEN Chair in 2023 to the National Bank of Cambodia (NBC), and believed that under the new chair of the NBC, SEACEN activities in 2023 would continue to be successfully implemented, contributing to achieving the goal of making SEACEN a prestigious training and capacity building center in the region.
Le Hang