Outstanding results of international financial integration and cooperation in 2024

Outstanding results of international financial integration and cooperation in 2024 13/12/2024 11:08:00 67

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2024 is a pivotal year, of special significance in successfully implementing the tasks of the entire term according to the Resolution of the 13th National Party Congress, preparing all aspects for the 14th Congress of the Party. In the context that the world is still fluctuating, the foreign affairs of not only the State and the Government in general but also of the Ministry of Finance in particular continue to create important successes, increasingly deepening and diversifying bilateral and multilateral partners.

In the financially international integration and cooperation, the Ministry of Finance's external affairs have shown positive aspects, contributing to updating the situation of policies on finance and budget to the international community, promoting the implementation of international commitments into practice, promptly responding to enterprises' requests and concerns, creating a high spillover effect, and enhancing Vietnam's position in the regional and world financial markets.

On the basis of the Party's and State's foreign policy, in 2024, the Ministry of Finance continues to maintain good relations on cooperation in the financial sector with neighboring countries and other important partners through business exchanges, investment promotion, receive the foreign delegations as well as participate in regional and multilateral cooperation frameworks such as ASEAN, ASEAN+3, APEC, V20... It can be said that in 2024, the external activities of the leaders of the Ministry of Finance are relatively active through business trips to promote trade, investment or negotiate agreements within the financial sector.

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Minister of Finance Ho Duc Phoc chaired the Investment Promotion Conference in Singapore during a business trip to Australia and Singapore from July 30 to August 7, 2024

In addition, the Ministry of Finance continues to implement the Government's direction to promote economic diplomacy and international financial integration, comply with and effectively implement international integration commitments in Free Trade Agreements (FTAs), Tax Agreements, Agreement on cooperation and mutual assistance in the field of customs. In 2024, the Ministry of Finance has submitted to the Government for promulgation Decree 81/2024/ND-CP dated July 4, 2024 on the implementation of the ASEAN-Korea Trade in Goods Agreement for the period of 2022-2027 and Decree 131/2024/ND-CP dated October 15, 2024 on Vietnam's special preferential import tariff for the implementation of the Vietnam-Israel Free Trade Agreement. Besides, the Ministry of Finance has closely coordinated with relevant ministries and sectors to conclude negotiations and sign the Comprehensive Economic Partnership Agreement (CEPA) between Vietnam and the United Arab Emirates (UAE) on the occasion of Prime Minister Pham Minh Chinh's visit to three Middle-East countries in October 2024.

In 2024, the Ministry of Finance has organized 28 international conferences and seminars to share knowledge and experience related to key content oriented by the Government such as green bonds, carbon markets, and solutions to upgrade the stock market, enforcement of intellectual property rights in the field of customs, etc. The conferences have received a lot of attention and participation from domestic and foreign experts and officials.

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Seminar "Solutions to upgrade Vietnam's stock market" in Hanoi organized by the Institute of Financial Strategy and Policy

In 2025, follow the Conclusion No. 66-KL/TW dated November 15, 2023; implement the Conclusion No. 71-KL/TW dated February 16, 2024; and continue to implement Decision No. 1934/QD-BTC dated September 11, 2023 on the Action Plan of the Ministry of Finance, implement the Government's Resolution No. 21/NQ-CP on the Government's Action Program for the period 2022 – 2026, implement Directive No. 15-CT/TW dated August 10, 2022 of the Secretariat on economic diplomacy in service of national development to 2030; Decision No. 2727/QD-BTC dated 11/12/2023 on the Action Plan of the Ministry of Finance to implement the Government's Resolution No. 93/NQ-CP on improving the efficiency of international economic integration, promoting rapid and sustainable economic development in the 2023-2030 period, the Ministry of Finance will continue to strengthen international financial integration and cooperation activities, contributing to affirming the role and prestige of Vietnam in bilateral financial relations with other countries and in multilateral financial forums such as ASEAN, ASEAN+3, APEC, etc. In addition, the Ministry of Finance will also closely coordinate with relevant ministries and sectors in the process of negotiating international financial agreements and agreements, promoting economic diplomacy, strengthening external relations with neighboring partners, large and important countries./.

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