Finance minister attends 30th APEC Finance Ministers' Meeting

Vietnamese Minister of Finance Ho Duc Phoc made the above statement at the 30th APEC Finance Ministers' Meeting which was held in San Francisco, the U.S., on November 13.

Addressing the event, Ho said, Viet Nam welcomes development partners and international organizations to grant preferential loans, ensure supportive capital sources, increase incentive elements to reduce capital mobilization costs.

To reduce greenhouse gas emissions, Viet Nam has promulgated some policies to promote the development of the domestic carbon market in accordance with the 2020 Law on Environmental Protection and a Decree providing regulations on reduction of greenhouse gas emissions and protection of the ozone layer, he added.

Ho underscored the importance of cooperation among APEC members in this domain, particularly experience sharing in building financial mechanisms and polices to form and operate a carbon market.

Viet Nam and APEC members have shared experience, sought financial tools and mechanisms, and increased access to financial resources to help developing economies resolve bottlenecks in order to strengthen resilience to climate change, equitable energy transition and establish and operate voluntary carbon markets, reiterated Ho.

Under the theme of "Creating a Resilient and Sustainable Future for All", leaders, ministers and officials discussed APEC's work across a wide range of policy areas this year including trade and investment facilitation, the digital economy, clean energy and climate, health, gender equity and equality as well as anti-corruption and food security.

The event attracted the participation of finance ministers from 21 economies in APEC and representatives of international organizations such as the International Monetary Fund (IMF), World Bank (WB), Asian Development Bank (ADB), the Organization for Economic Co-operation and Development (OECD) and the APEC Business Advisory Council./.