REVIEW
of
FINANCE -
Jan. 2018
13
cooperation has achieved important development
steps by exploiting maximally and selectively
the cooperating outcomes and strengthening
attraction, mobilization and effective use of
external assistance resources for the purpose of
the economy reform, restructuring and financial
sector modernization, perfection of financial
institutional regime and policies, reform of
administrativeprocedures, buildingupoffinancial
employee’s capacity for Viet Nam in order to fulfill
requirements and address challenges during the
country’s renewal and integration journey. The
financial cooperation work in the last period and
in 2015 has been focused on the following aspects:
Solidifying position of Viet Nam
in regional financial forum
On different regional financial fora, the
Ministry of Finance has participated intensively in
various cooperation themes, obtained concreted
and practical cooperation results, contributing
to consolidation, improvement of the role of a
member country, gradually moving from full and
responsible participating member to a member
with active role in all agreements, treaties, bilateral
and multilateral fora, actively embracing with
initiatives aimed at making full uses of its role in
multilateral institutions, grasping opportunities
and creating the most favorable conditions
for socio-economic development during the
integration process.
In ASEAN and ASEAN+3 cooperation, Viet
Nam continues to be a enthusiastic, proactive
and responsible member, gradually exceeding
the group of low started countries (Brunei,
Cambodia, Lao, Myanmar and Viet Nam) and
approaching to group of ASEAN 5 (Indonesia,
Malaysia, Philippines, Singapore and Thailand)
in undertaking its international obligations and
commitments, at the same time step by step
converting regional cooperation initiatives into
specific benefits of the country. During 2016 – 2020
period, Viet Nam will take over the role of host
country of APEC Financial Ministerial Meeting
(2017) and ASEAN and ASEAN+3 Financial
Ministerial Meetings (2020).
Diversifyingandeffectivelyenhancingfinancial
cooperation forms, timely meeting requirements
of socio-economic development
+ Obligation to authorize investors of TPP/
EVFTA members to supply new financial
services; the parties shall accord to foreign
securities services suppliers national treatment
with respect to cross - border financial data
processing; consultancy and auxiliary services
related to trading for own account or for account
of customers;
+ Opening market of cross - border portfolio
management services.
In addition, the accounting, auditing and
taxation services by the WTO liberalization
commitments are in high level, contributing
to propelling market development, enhancing
corporate governance transparency and improving
investment environment of our country. The Viet
Nam’s accounting and auditing standards are all
currently formulated in line with and adapting
to the international accounting and auditing
standards, the global professional auditing firms
as Big 4 and the others have presences in Viet Nam.
In ASEAN, with aspiration of building a
multilateral mutual recognition Agreement on
accounting and auditing services to promote
information and expertise, experiences and best
practices exchange appropriate with specific need
of ASEAN’s member countries and to facilitate
movement among ASEAN’s member countries
of experts providing accounting and auditing
services; Mutual Recognition Agreement (MRA)
on accounting and auditing in ASEAN was signed
on the side line of the 6th ASEAN Economic
Ministerial Meeting (AEM) in 8/2014. The Ministry
of Finance has been developing implementation
plan including templates, procedures, assessment
report on candidate qualification and establishment
of Supervisory board.
Be active in bilateral, multilateral
and regional financial cooperation fora
To materialize the advocacy of international
economic integration and expand external
relationship with other countries, based on
firm upholding of national sovereignty and
economic and financial security, the financial
cooperation in the region and with other
foreign governments and international financial
institutions has developed significantly and
crossing all board. The international financial
