The scene of the meeting (Photo: VOV)

During the course of the meeting, senior officials discussed policies to promote long-term investment in infrastructure, and risk allocation mechanisms. They discussed regulations and best practices in the APEC region in coping with base erosion and profit shifting, especially by multinational corporations which often lead to losses in taxes in related economies. Also on the agenda were policy recommendations on disaster risk management, especially on practical experience in formulation of policy responses in the areas of fiscal contingencies, standby credit schemes, stabilisation funds as well as improvement in disaster forecasting and methodology for disaster risk budgeting.