In its efforts to expand the range of cross-border offerings of Collective Investment Schemes (CIS) across the region, the ACMF completed the industry consultation on the inclusion of the Philippines in the ASEAN Collective Investment Scheme (ASEAN CIS) Framework. The ACMF made further progress on preparing the Supplemental MoU on admission of the Philippines into the ASEAN CIS framework. The present signatories of the ASEAN CIS Framework are Malaysia, Singapore and Thailand.

The meeting was updated on progress of the 6th ASEAN Corporate Governance Scorecard (ACGS) assessment, for whichdomestic assessments and peer reviews have been concluded. The ASEAN Corporate Governance Awards is expected to be held in middle of the year in Vietnam.

Regarding infrastructure financing, progress was made in developing a taxonomy on infrastructure company classification and guiding principles for standardisation of project finance loan documents.

While reviewing the ACMF’s achievements during the 2016-2020 period, the ACMF members also discussed the workflows for the developments of the ACMF Action Plan 2021 – 2025.

During the meeting, ADB announced the approval of a new regional technical assistance (TA) programme to support ACMF initiatives in 2020 - 2022. The TA is financed by the Investment Climate Facilitation Fund and will be used to support key activities including the Roadmap, promotion of green bond issuances, and using the ASEAN Corporate Governance Scorecard assessment to promote ASEAN publicly listed companies to international investors. The TA will also support structured capacity building of ACMF regulators.

In light of the COVID-19 outbreak, the meeting also shared measures taken by regional securities regulators to better deal with its impact.

The ACMF members reiterated the commitments to sustainable development and persevere in their collective efforts to promote connectivity, inclusiveness, and resilience of ASEAN capital markets.