Sustainable economic development from international cooperation in finance, accounting and auditing

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Deputy Minister of Finance Vo Thanh Hung speaks at the Forum.

At the ACCA Asia-Pacific Forum held by the Association of Chartered Certified Accountants (ACCA) on May 28, in Hanoi, Deputy Minister of Finance Vo Thanh Hung said that the Asia-Pacific region continues to emerge as a dynamic center, maintaining a high economic growth trend compared to the world, along with new advances in regional cooperation with over 350 Free Trade Agreements signed by countries in the region.

However, the region has become a focus of geopolitical strategic competition, posing many potential risks of conflict outbreaks, threatening peace and stable development.

The Deputy Minister said that countries need to strengthen solidarity in the region, promote economic cooperation, trade, investment, people-to-people and business exchanges.

Emphasizing the role of finance, accounting and auditing, the Deputy Minister affirmed that these are important pillars shaping and promoting the economic development of each country and region.

“The cooperation promotion among countries in the fields of finance, accounting and auditing not only improves financial management efficiency, shares resources and promotes the training of high-quality human resources, but also facilitates for sustainable economic development”, Deputy Minister Vo Thanh Hung said.

According to the Deputy Minister, the completion of legal framework and improvement of human resource capacity in accounting and auditing on the basis of international practices is an essential requirement in the economic integration and development of each country.

Therefore, the Deputy Minister said that countries need to support, share experiences and learn from each other to meet international standards and build a healthy and transparent business environment.

In addition, the countries need to build training programs meeting international standards and practical needs of the labor market, and ensure that 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 with businesses and international organizations to share experiences and learn advanced training methods.

Deputy Minister of Finance Vo Thanh Hung works with ACCA.

According to experts, the Asia-Pacific region is witnessing significant fluctuations due to economic growth, technological innovation and sustainability initiatives. Notably, the boom of green finance, the impact of artificial intelligence, automation and the importance of responsible business (ESG).

Therefore, the ACCA Asia-Pacific Forum has emphasized the need for solutions to support the business community in particular and the regional economy in general to overcome difficulties and challenges, but need to focus on sustainable finance and ESG integration as well as digital transformation in the Finance industry...

Mr. Pulkit Abrol, Director of ACCA Asia-Pacific region, said that it is necessary to promote positive change, promote sustainability and embrace digital transformation, thereby contributing to the development of the regional economy.