12TH COMMUNIST PARTY OF VIETNAM CENTRAL COMMITTEE HOLDS SIXTH PLENARY SESSION

THE SIXTH PLENARY SESSIONof the 12th Communist Party of Vietnam (CPV) Central Committee took place in Hanoi on Oct. 4-11.

The Plenary Session focused on five main topics, including the socio-economic situation and state budget in 2017,as well as tasks set for 2018, projects on enhancing public healthcare, projects focused on population work, reform of management and financial mechanisms, reshuffle of public non-business agencies and issues related to streamlining the apparatus of the political system and enhancing its efficiency and effectiveness.

CPV General Secretary Nguyen Phu Trong delivered a summary speech on behalf of the Political Bureau of the CPV Central Committee at the closing session.

He called on the whole Party, people and army to continue implementing more seriously and effectively the Resolution adopted at the 12th National Party Congress as well as the resolutions of the 12th Party Central Committee, including conclusions made at this meeting, to fulfill the targets set for 2017-2018 and the years to come.

ASEAN Moving Closer to Creating Common Market

ASEANis making substantial progress in creating a common market, a press release from the Philippine finance ministry quoted its chief as saying on Oct. 16.

Finance Secretary Carlos Dominguez voiced optimism that ASEAN,one of the world’s major growth drivers, will meet its timetable on economic integration as spelled out in the ASEAN Economic Blueprint 2025.

Dominguez was in Washington to attend the International Monetary Fund (IMF) managing directors’ roundtable meeting with ASEAN finance ministers and central governors.

The Philippines chairs ASEAN this year as the bloc celebrates its 50th anniversary. Dominguez spoke on behalf of his fellow ASEAN ministers during the meeting at the IMF headquarters.

Dominguez reported that average growth this year among ASEAN countries is expected to be 5 percent, driven by strong domestic consumption in each country’s economy.

In some ASEAN economies, he noted that faster growth is inhibited by higher inflation and weaker-than-expected trade flows, which, he added, “are short-term limitations” and could turn for the better once global growth picks up.

APEC SME Ministerial Meeting in HCM City

THREE IMPORTANT

DOCUMENTSwere adopted at the 24th APEC Small and Medium Enterprises Ministerial Meeting that wrapped up on Sept. 15 in HCM City.

They are the APEC SME Ministers’ Initiative on Promoting Innovative Startups, the Strategy on Green,Sustainable and Innovative MSMEs and the 24th SME Ministers Statement, and all emphasise the importance of developing small and medium-sized enterprises(SMEs) by APEC members.

Speaking to the media,Minister of Planning and Investment Nguyen Chi Dung, the chair of the 24th APEC SME Ministerial Meeting, said the APEC SME Ministers’ Initiative on Promoting Innovative Start-ups and the Strategy on Green, Sustainable and Innovative MSMEs are expected to be submitted for the 2017 APEC Economic Leaders Week in Da Nang in November.

During the weeklong (Sept. 10-15) 2017 APEC Small and Medium Enterprises Ministerial Meeting, a series of meetings and forums took place, like the 2017 APEC Online-to-Offline Initiative Forum, APEC SME Finance Forum, APEC Start-up Forum, Digital Economy Forum, and the 45th Meeting of the APEC Small- and Medium-Sized Enterprises Working Group.

The APEC SME Ministerial Meetings, held annually since 1994, sets out the direction for the Working Group. In September last year the SME Ministers endorsed the SMEWG Strategic Plan for 2017-20 which provided a roadmap to address critical issues pertaining to the growth of SMEs and micro enterprises in the APEC region like entrepreneurship,innovation and the internet and digital economy;financing for business expansion and capability development; inclusive business eco-system that supports SME growth; and market access for SMEs.

The next SME Ministerial Meeting will be held in Papua New Guinea.

APEC Senior Finance Officials’ Meeting Reviews Policy Priorities

ASIA-PACIFIC ECONOMIC COOPERATION (APEC)SENIOR FINANCE OFFICIALS’ MEETING

opened in central Vietnam’s Hoi An city on October 19,centering on drafting a joint ministerial statement and reviewing policy priorities in 2017.

The priorities include long-term investment in infrastructure, tax avoidance through base erosion and profit shifting, disaster risk financing and insurance,and financial inclusion.

Regarding longterm investment in infrastructure, the officials from 21 APEC member economies and international financial institutions such as the World Bank and the International Monetary Fund reviewed mechanisms to facilitate private sector engaging into long-term infrastructure investment.

They also reviewed ways of promoting public-private partnership (PPP) projects in delivery of infrastructure facilities through dealing with risk allocation issues and building instruments to mitigate risks.

Sources: VNA, VNS, Xinhua, CCTV, VOA English