Stronger regional connectivity needed to deal with financial risks

Deputy PM Vu Van Ninh at the session on East Asia’s financial stability, Ha Noi, November 28, 2012 – Photo: VGP

The Deputy PM made the statement on Wednesday at the session on East Asia’s financial stability- a component of the two-day international conference entitled “Financial stability frameworks and supervision in changing environment” in Ha Noi.

He noted that despite numerous barriers and challenges, economic and financial cooperation among East Asian economies has gained impressive progress.

To foster regional cooperation, Deputy PM Ninh stressed the necessity for international organizations and finance management agencies to thoroughly evaluate the region’s financial system for proper solutions.

Viet Nam pledges to continue its economic restructuring process, particularly the finance-banking system and improve the competitiveness of the economy.

Addressing the opening ceremony of the conference a day earlier, PM Nguyen Tan Dung expressed hope that 400 participating managers and policy makers would discuss frankly, share experiences and research results, and propose practical and specific measures and policies to boost stability and sustainable development in Viet Nam, the region and the world as a whole.

He stressed that the country is changing its growth model in combination with economic restructuring with the focus on services, investment, State-owned enterprises and credit and financial systems, while adjusting market strategies to improve the quality, efficiency and competitiveness of the economy./.

By Huong Giang