HA NOI — More than 200 local and foreign chief financial officers (CFOs) gathered here yesterday for a seminar on their role during fiscal turbulence.
The seminar promoted the sharing of information on corporate finance, integration into the international financial community and harmonising financial and accounting standards.
Participants also discussed the global accreditation system by the International Association of Financial Executives.
Nguyen Ngoc Bach, director of the CFO Viet Nam Club, said the global economy was gaining momentum, but financial turbulence still posed threats.
He said the seminar offered an opportunity for CFOs and corporate leaders to develop measures to minimise risks in business operations.
Bach said the implementation of the association's global accreditation and finance and accounting standards in Viet Nam would help standardise financial management systems.
Hiroshi Yaguchi, vice chairman of the association and founder and executive director of the Japan Association for CFOs, told the forum that the world economy was relying on Asia to further grow.
He said the situation remained unstable and unpredictable and a second dip could still be triggered. However, the world economy had fully shifted to Asia.
The seminar was told that skilled human resources was the key to boosting industry and attracting foreign investment.
Le Dang Doanh, former director of the Central Institute for Economic Management (CIEM), said Viet Nam's economy had witnessed a significant recovery during the past two years.
Public and private investment remained at high levels. However, the exchange rate was strongly influenced by Viet Nam's rising inflation, budget deficits, increasing public and foreign debt, an international trade deficit and current account deficit.
To combat this, the Vietnamese Government had set an ambitious target of stabilising inflation while trying to reach a higher economic growth rate.Source: vnagency.com.vn
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