Developing innovative financial solutions to address common challenges

Promoting cooperation between countries in the fields of finance, accounting and auditing facilitates sustainable economic development.

Those were the shares of Deputy Minister of Finance Vo Thanh Hung at the ACCA Asia-Pacific Forum which opened this morning (May 28) in Hanoi.

The event, organized by the Association of Chartered Certified Accountants (ACCA), took place on May 28 and 29. The Asia Pacific Forum is an important event, attracting the participation of many experts, scholars and managers in the fields of management, finance, accounting and auditing from across the Asia-Pacific region.

Deputy Minister of Finance Vo Thanh Hung (Photo: Chi Cuong)

Asia-Pacific is gradually asserting its central role.

According to Deputy Minister Vo Thanh Hung, we are witnessing a changing world and regional situation with many complex and unpredictable developments. The world economy has not yet recovered from the Covid-19 pandemic; many economies in the region and around the world are growing more slowly than forecast in 2023; inflation has not yet decreased in many major economies...

However, recently the global economic and trade prospects have shown positive signs.

“We are witnessing Asia-Pacific continuing to emerge as a dynamic center, maintaining a high economic growth trend compared to the world, along with new steps in regional cooperation with over 350 free trade agreements (FTAs) signed by countries in the region with each other and with partners outside the region,” said Deputy Minister Vo Thanh Hung.

However, according to Mr. Hung, along with that strong development, this area has also become the focus of geopolitical strategic competition, with many potential risks of conflict outbreaks, threatening peace and stable development of the region.

In that context, we need to strengthen regional solidarity, promote economic cooperation, trade, investment, and people-to-people and business exchanges.

Sharing this view, Ms. Helen Brand, CEO of ACCA, commented that Asia-Pacific is asserting its central role, influencing global issues, navigating changing flows and creating economic structures and setting new standards.

Ms. Helen Brand also believes that we are witnessing the emergence of a new generation of leaders and business professionals, equipped with new attitudes and philosophies about how to operate the economy.

Ms. Helen Brand, CEO of ACCA (Photo: Chi Cuong)

Promote cooperation between countries in the fields of finance, accounting and auditing

Deputy Minister of Finance Vo Thanh Hung said that finance, accounting and auditing are important pillars that shape and promote the economic development of each country and region. Building a solid foundation for economic cooperation and sustainable development requires consensus and joint efforts from countries in the region.

In the current context, cooperation in research and development of innovative financial solutions will help address common challenges facing countries in the region and promote sustainable economic development.

“Therefore, I believe that promoting cooperation between countries in the fields of finance, accounting and auditing not only improves the efficiency of financial management, shares resources and promotes the training of high-quality human resources but also creates favorable conditions for sustainable economic development,” Mr. Hung emphasized.

Conference scene. (Photo: Chi Cuong)

In addition, perfecting the legal framework and improving human resources capacity in accounting and auditing based on international practices is an essential requirement in the process of economic integration and development of each country. Deputy Minister Vo Thanh Hung said that we need to support each other, share experiences and learn from each other to ensure that we all meet international standards and can together build a healthy and transparent business environment.

At the same time, it is necessary to develop training programs that meet international standards and the practical needs of the labor market, ensuring that practicing accountants and auditors are equipped with the necessary professional knowledge and practical skills. At the same time, it is necessary to encourage cooperation between training institutions and businesses and international organizations to share experiences and learn advanced training methods.

Ms Helen Brand pledged that ACCA and ACCA members are ready and willing to work with all partners to build truly sustainable economies that work for everyone, and ensure that the region continues to grow and develop as one of the world's great economic powerhouses.

Source: https://baodautu.vn/phat-trien-cac-giai-phap-tai-chinh-sang-tao-de-giai-quyet-nhung-thach-thuc-chung-d216197.html