Proposals and initiatives of the Vietnamese Ministry of Finance received attention and were highly appreciated at AFMGM 12.

The theme of this year's 12th AFMGM is "Inclusive and Sustainable" Development with priorities to enhance the effectiveness of ASEAN cooperation, specifically: Promoting access to financial resources for equitable transition, responding to climate change; Accelerating the development of a sustainable and connected ASEAN capital market; Promoting instant and inclusive payment connectivity in ASEAN based on innovation, digital transformation, financial technology development; green transformation and development of small, micro and medium enterprises. The Finance Ministers also promoted cooperation in all financial sectors, especially Customs, Tax, Treasury, Insurance, etc., towards the vision of the ASEAN Economic Community by 2045.

At conferences and closed sessions, Vietnamese Finance Minister Nguyen Van Thang spoke, updated information, and presented Vietnam's viewpoints and initiatives to promote cooperation among ASEAN countries and between ASEAN and the international business community. The opinions, discussions, proposals, and initiatives of the Vietnamese Finance Ministry delegation were highly appreciated and supported by many delegates from other countries.

Vietnamese Finance Minister Nguyen Van Thang speaks at the conference.

Information at the conferences showed that the economies of ASEAN countries have recovered over the past year, with Vietnam being the bright spot. ASEAN countries are very concerned about the imposition of reciprocal tariffs due to economic openness, foreign investment flows and exchange rates. Delegates attending the conference were very interested in Vietnam and its proactive, constructive, harmonious and positive views on this issue. The common view of the countries is to cooperate and have open dialogue with all partners, including the United States. ASEAN pledged not to apply any retaliatory measures in response to the United States' tariff policy; called on international organizations such as the World Bank, the Asian Development Bank, the International Monetary Fund and other organizations to advise members on appropriate policy tools.

The Joint Statement of the 12th AFMGM stated: “ASEAN reaffirms its commitment to an open, inclusive and rules-based multilateral trading system and to ASEAN economic integration. ASEAN stands ready to work constructively with all partners, including the United States, to find balanced, forward-looking solutions to support the sustainable development of the global economy and to be prepared to meet future challenges. In the context of increasing global uncertainties, the 12th AFMGM reaffirms its commitment to strengthening ASEAN’s resilience and accelerating financial integration, thereby supporting the promotion of intra-ASEAN trade and investment integration.”

At the conference, the representative of the Vietnamese Ministry of Finance delegation also affirmed: "Vietnam commits to continue to accompany and closely coordinate with ASEAN member countries in implementing regional financial initiatives, actively contributing to the goal of building a "more connected, more sustainable and more inclusive" ASEAN Community in the future."

Attending the closing session of AFMGM 12, Malaysian Prime Minister Anwar Ibrahim expressed his agreement with the results of the Conference's discussions in the context of increasing global challenges, acknowledged the positive developments when the United States postponed the imposition of reciprocal tariffs and said that ASEAN countries need to increase intra-bloc trade and investment, have a common voice and make joint efforts to diversify markets (trade, investment) thereby increasing ASEAN's self-reliance.

Vietnamese delegation attended the conference.

Speaking at the conferences, Minister Nguyen Van Thang said that Vietnam is committed to continuing to reform administrative procedures, streamlining the apparatus, ensuring the synchronization and stability of legal regulations, promoting economic and financial integration within the ASEAN framework, and actively contributing to the process of enhancing regional investment, trade and financial connectivity.

Minister Nguyen Van Thang affirmed that Vietnam wishes to strengthen cooperation with partners in sharing management experience, improving institutions and attracting green financial capital. Vietnam encourages businesses and financial institutions to invest in key areas such as strategic infrastructure, renewable energy, and sustainable transport adapting to climate change.

“Vietnam calls on international financial institutions to increase technical, technological and financial support for Vietnam as well as ASEAN countries in the process of energy transition and building sustainable financial markets – an important driving force for the region to move towards more inclusive and resilient development in the future,” the Minister added.

Minister Nguyen Van Thang said that with its favorable geostrategic location in the heart of Southeast Asia, Vietnam is increasingly becoming an attractive destination in the regional and global value chain. Vietnam has been promoting improvements in the investment environment, simplifying administrative procedures and enhancing logistics infrastructure capacity, in order to more effectively support production, business and cross-border trade activities. Therefore, Vietnam wishes to cooperate more deeply with countries and international financial institutions on macro-policy advice, connecting regional businesses, and developing sustainable supply chains, especially in the fields of energy, technology and smart agriculture.

In addition to the main events, Vietnamese Finance Minister Nguyen Van Thang had many bilateral meetings and working sessions with the Ministry of Finance of Malaysia, the Ministry of Finance of Indonesia, the Ministry of Finance of Laos, the Ministry of Finance of Thailand, the International Monetary Fund, and the US-ASEAN Business Council. The Minister and delegates provided general information on the economic situation of both sides, discussed and proposed many important initiatives to jointly develop the prosperity of the ASEAN region and each member country, especially in the context of current trade tensions.

Within the framework of the 12th AFMGM Conference, on the morning of April 9, three important events took place: the Dialogue Conference between ASEAN Ministers and Central Bank Governors with the ASEAN-US Business Council (AFMGM-US ABC), the ASEAN-EU Business Council (AFMGM-EU ABC), and the ASEAN Business Advisory Council (AFMGM-ABAC).

At the AFMGM-US ABC Dialogue, delegates discussed the prospects for trade and investment in ASEAN, emphasizing the role of trade as a growth driver and the risks from uncertain trade policies, including new US tariffs. At the same conference, ASEAN and the US business community in ASEAN discussed the topic of Digital Transformation in the banking and finance sector, proposing to promote cooperation between US and ASEAN businesses through technical assistance, experience sharing and development of a harmonized legal framework for digital payments, artificial intelligence and digital financial services.

At the AFMGM-EU ABC Dialogue, delegates focused on discussing trade and investment prospects, with European business representatives sharing concerns about global trade tensions and the impact of US tariff policies on business operations in ASEAN. The topic of sustainable development was also discussed with the EU-ABC’s presentation on its contribution to the ASEAN Power Grid Project through a diversified financing mechanism, combining public and private sectors to contribute to building a greener, more sustainable and secure ASEAN energy system, and promoting a regional carbon market.

Meanwhile, at the AFMGM-ABAC Dialogue, delegates focused on three main groups of content, including: Enhancing the competitiveness and resilience of the ASEAN regional supply chain; sustainable development, promoting the role of businesses in the transition to a low-emission economy; and sharing ABAC initiatives such as the ASEAN Business Entity Program and the regional sustainability reporting cooperation (ASRAC).

Previously, on the afternoon of April 9, the ASEAN Finance Ministers' Retreat (AFMM Retreat) took place. Here, the regional Finance Ministers discussed many important topics to develop a prosperous region and competitiveness among ASEAN member countries such as: ASEAN's response to external economic, financial and trade challenges; promoting the domestic bond market. At the meeting, Vietnamese Finance Minister Nguyen Van Thang also had many exchanges, giving many important opinions and initiatives to jointly develop a prosperous and sustainable ASEAN economic community.

On the morning of April 10, at the 29th ASEAN Finance Ministers' Meeting, Finance Ministers in the region discussed the progress of many important financial cooperations in ASEAN such as: Infrastructure Finance; Cooperation in Insurance Issues; ASEAN Disaster Risk Financing and Insurance (ADRFI); ASEAN Tax Forum; Cooperation in Customs; ASEAN Single Window; ASEAN Treasury Forum...

The Finance Ministers and delegates approved the initiative to establish the ASEAN Inter-Agency Working Committee (ACS-WC). The ASEAN Infrastructure Fund (AIF) also launched the AIF Action Plan 2025-2028.

Also on April 10, the ASEAN Finance Ministers and Central Bank Governors Dialogue with International Financial Institutions (AFMGM-IFI) officially took place. The AFMGM-IFI Conference gave delegates time to listen to presentations on many important topics such as inward-looking global trade and its impact on ASEAN, ASEAN's balanced behavior, and building financial resilience and response capacity, promoting ASEAN's unity and centrality.

The 12th ASEAN Finance Ministers and Central Bank Governors Meeting (AFMGM) also approved the agenda and reviewed the summary of the Priority Economic Goals for 2025; the ASEAN Economic Community (AEC) Blueprint and the AEC Strategic Plan 2026-2030; the Roadmap for ASEAN Financial and Monetary Integration (RIA-FIN) and other initiatives under the process of the ASEAN Finance Ministers and Central Bank Governors; the Streamlining Project and a number of other issues. The meeting adopted the Joint Statement of the 12th AFMGM with many important, meaningful and timely contents.

Source: https://nhandan.vn/cac-de-xuat-sang-kien-cua-bo-tai-chinh-viet-nam-duoc-quan-tam-va-danh-gia-cao-tai-afmgm-12-post872303.html