The APEC Senior Finance Officials Meeting (SFOM ) (Photo: VNA)
Ninh Binh (VNA)ꦡ - The APEC Senior FinanceOfficials Meeting (SFOM) concluded in the northern province of Ninh Binh on May19 after two working days.
In his closing speech, Vu Nhu Thang, Directorof the International Cooperation Department under the Ministry of Finance, who doublesas SFOM 2017 Chair, noted the event’s important outcomes, requestingofficials to continune discussions to prepare the reportfor the upcoming APEC Finance Ministers’ Meeting to be held in October. During the course of the meeting, seniorofficials discussed policies to promote long-term investment in infrastructure,and risk allocation mechanisms in public-private partnership (PPP) projects inparticular. They also discussed regulations and best practicesin the APEC region in coping with base erosion and profit shifting, especiallyby multinational corporations which often lead to losses in taxes in relatedeconomies. Also on the agenda were policy recommendations ondisaster risk management, especially on practical experience in formulation ofpolicy responses in the areas of fiscal contingencies, standby credit schemes,stabilisation funds as well as improvement in disaster forecasting andmethodology for disaster risk budgeting. Delegates from 21 APEC member economies also notedthe challenges in financial access in rural and agricultural development anddiscussed orientations for improving financial access in rural areas to supportpoverty reduction. The meeting received valuable support from internationalorganisations, such as the World Bank (WB), the Asia Development Bank (ADB) andthe Organisation for Economic and Cooperation Development (OECD).-VNA
The Asia-Pacific Economic Cooperation (APEC) has made good progress in the four adopted cooperation priorities in 2017 proposed by Vietnam, said Executive Director of the APEC Secretariat Alan Bollar.
Delegates attending the APEC Senior Finance Officials’ Meeting (SFOM) in Ninh Binh voiced their support for the host country’s priorities in implementing the Finance Ministers’ Process.
The Asia-Pacific Economic Cooperation (APEC) 2017 Second Senior Officials’ Meeting (SOM 2) concluded in Hanoi on May 18, with fruitful outcomes in various fields.
Representatives from APEC economies gathered at a symposium in Hanoi on May 19 to share experience in promoting trade and innovation and explore activities to boost innovative growth in the region.
The third Public-Private Dialogue on Advancing Trade Facilitation and Supply Chain Connectivity through Asia-Pacific Model E-Port Network took place in Hanoi on May 19 as part of events in the APEC Year 2017.
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PM Anwar Ibrahim affirmed the determination of Malaysia, as ASEAN Chair for 2025, to utilise all viable regional mechanisms of the bloc and work with partners to de-escalate violence and restore a peace process led by Myanmar.
The APEC Senior Finance Officials Meeting (SFOM ) (Photo: VNA) 
