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VN attends ASEAN Finance Ministers' Investors Seminar
A Vietnamese delegation headed by Nguyen Ba Toan, a senior official of the Finance Ministry, attended the 7 th ASEAN Finance Ministers' Investors Seminar in Kuala Lumpur , Malaysia , on Nov. 30.
The seminar drew more than 200 investors from the ASEAN region and the world.
The Vietnamese delegation held a meeting to introduce socio-economic development and investment environment to foreign investors.
They presented Vietnam ’s financial and monetary policies and government’s efforts to reduce budget deficit, maintain economic growth and reform policies to facilitate foreign investors in Vietnam .
Figures on economic development, situation of foreign direct investment in the country’s sectors and the amount of foreign investment in Vietnam were announced.
At the seminar, foreign investors were interested in conditions of land rent for foreign investors, the exchange rate between Vietnamese dong and US dollar and measures to stablise prices in Vietnam .
ASEAN financial officials discussed regional economic growth, opportunities for development and ASEAN competitiveness in the world economy.
They focused on initiatives on expanding free financial area and intra-regional linkage and boost market link while building the ASEAN economic community by 2015.
Addressing the event, ASEAN Secretary General Surin Pitsuwan urged ASEAN member countries to boost trade cooperation in order to raise competitiveness with other countries in the world and achieve its goal of economic integration by 2015.
He stressed the need to turn ASEAN into an attractive market for investors and noted that ASEAN countries have tried their best by improving its infrastructure linkages and the ease of travel.
The ASEAN Infrastructure Fund was created to support infrastructure projects in ASEAN to catalyze economic integration. So far, ASEAN nations have pledged 335 million USD to the fund, which was designed with a capital of 800 million USD.
The ASEAN secretary-general said that the region was fast to transform its centrality of goodwill to a centrality of substance in the post global financial crisis economic environment. Investing in ASEAN would no longer be a work of charity, but a prospect of profit and benefits.
He added that ASEAN emerged quicker than any other regions in the world from the crisis, and was attracting investors' attention.
Meanwhile, ASEAN finance official said there was no need to coordinate the "hot money" on the massive inflow of foreign capital into the region, which has raised fears of destabilising economies
ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.
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