APEC Finance Ministers' Meeting deals with global, regional challenges: Finance Minister
The APEC Finance Ministers' Meeting has promoted cooperation, aided in economic recovery and sustainable development while addressing global and regional challenges, said Vietnamese Finance Minister Ho Duc Phoc.
Vietnamese Finance Minister Ho Duc Phoc (Photo: VNA)
Washington (VNA) – The APEC Finance Ministers' Meetinghas promoted cooperation, aided in economic recovery and sustainabledevelopment while addressing global and regional challenges, said VietnameseFinance Minister Ho Duc Phoc.
In aninterview granted to the Vietnam News Agency on the sidelines of the meeting in SanFrancisco on November 13, Phoc said the meeting focused its discussions on sustainabledevelopment, finance for sustainable development, digital assets andsupply-centric economic models.
Addressing discussionson finance for climate change response, the official affirmed that Vietnam is committedto achieving net-zero emissions by 2050 and supports the Just Energy TransitionPartnership (JETP).
For Vietnam,the funding from JETP has been committed at 15.5 billion USD which is requiredwithin the next 6 years, he said, adding that it has issued mechanisms to draw private investment into renewable energyprojects, such as solar and wind energy,and hydropower.
According tohim, Vietnam is also attracting investments from international financialinstitutions such as the World Bank (WB), the Asian Development Bank (ADB),European banks, and investment funds to support climate change mitigationprojects.
Concerningfinance for climate change response, Vietnam proposed that financialinstitutions accelerate the disbursement of committed funds, as early andspecifically as possible, he said.
He addedthat finance ministers had debated the increasing public debt and solutions forshort and medium term. Other topics included funding for climate change investmentand energy transition, fair and infrastructure investment, aging populationaffecting fiscal policy and measures, and tax-related matters to increasepublic financial resources.
In the longterm, the sides will amend several tax laws, increase tax rates, and expandsome tax bases, such as valued added tax or new areas taxed at 5%, which mayrise to 10%. Import-export and special consumption taxes may also see hikes, he added./.
Vietnam has made active, responsible and effective contributions to all cooperation aspects of the Asia-Pacific Economic Cooperation (APEC) forum over the past 25 years and left many important imprints, stated Deputy Foreign Minister Nguyen Minh Hang on the threshold of President Vo Van Thuong’s participation at the APEC Leaders’ Week 2023 and bilateral activities in San Francisco, the US from November 14-17.
Vietnam became an official member of APEC on November 15, 1998, an important milestone in the implementation of its foreign policy. Over the course of its 25 years as an APEC member, Vietnam has actively and proactively contributed to the forum, playing a vital role in promoting peace, stability, cooperation, and regional economic integration.
Vietnamese President Vo Van Thuong, his wife and a high-ranking delegation of Vietnam left Hanoi on November 14 to attend the 2023 APEC Economic Leaders’ Week and bilateral activities in the US from November 14-17 at the invitation of US President Joe Biden.
The growth of APEC economies is expected to decline next year and remain below the global average as higher interest rates slow US growth and China continues to struggle with its recovery.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
Vietnamese Finance Minister Ho Duc Phoc (Photo: VNA) 
