At the conclusion to the 4th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting, ASEAN member countries reaffirmed their commitment to the ASEAN Economic Community (AEC) Blueprint 2025, including its strategic objectives of financial integration, financial stability, and financial inclusion.
Finance Minister Heng Swee Keat delivered opening remarks at the start of the 22nd ASEAN Finance Minister’s Meeting on 6 April 2018. Minister highlighted three key areas that the Finance track will focus on during Singapore’s ASEAN Chairmanship namely: Sustaining Growth; Boosting Resilience; and Fostering Innovation.
Finance Minister Heng Swee Keat spoke at the World Bank-Singapore Infrastructure Finance Summit on 5 April 2018. Minister noted that a strong infrastructure development agenda in ASEAN will boost member states’ productivity and economic competitiveness, and lift the region’s long-term economic potential.
ASEAN Finance Cooperation
Having an inclusive and stable financial sector remains a key goal of regional economic integration. Under the ASEAN Economic Community 2025 vision, the ASEAN financial sector integration encompasses three strategic objectives, as well as three cross-cutting areas.
Mr Yee Ping Yi, Deputy Secretary (Planning) of the Singapore Ministry of Finance, opened the ASEAN Workshop on Project Structuring and Financing on 8 February 2018. In his speech, Mr Yee highlighted the need for ASEAN to collaborate on increasing the visibility of the project pipeline in the region, and enhancing project bankability and accessibility to global institutional investors.
In his opening remarks at the ASEAN Workshop on Project Structuring and Financing on 8 February 2018, Mr Vivek Pathak, Director of East Asia & Pacific of the International Finance Corporation addressed the increasing importance of digital connectivity and the need for greater private investment in ASEAN infrastructure. He introduced the World Bank Group’s Maximising Finance for Development approach, which outlines the possible actions to facilitate such private investment.
Joint Statement: Joint Statement of the 4th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting
Joint Statement: Joint Statement of the Finance Ministers’ Meeting on the Establishment of the Southeast Asia Disaster Risk Insurance Facility (SEADRIF)
Joint Statement: Joint Statement of the 21st ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting
MOF and MAS hosted the ASEAN Workshop on Project Structuring and Financing on 8 February 2018.