Deputy Minister of Foreign Affairs Nguyen Minh Hang (in red) attends UNCTAD's 16th session (Photo: VNA)
Vietnamese Deputy Minister of Foreign Affairs Nguyen Minh Hang proposed three key policy recommendations to promote an inclusive, sustainable, and resilient economic transition, while addressing a general debate at 16th session of the United Nations Conference on Trade and Development (UNCTAD16) in Geneva on October 21.
Firstly, Hang stressed the need to strengthen global cooperation and reform international trade and financial institutions toward openness, fairness, and inclusiveness, which adapt to current profound changes and reflect the voice of developing countries.
Secondly, it is essential to enhance the self-resilience of developing countries through financial and technological support, promoting gender equality, and expanding the participation of small- and medium-sized enterprises in global value chains. Thirdly, the official called for joint efforts to promote a dual transition focusing on green and digital economies, using trade and investment to drive emission reduction, circular economy, and innovation, while ensuring inclusive sustainability standards that do not become barriers for developing countries.
Hang highlighted that amidst major global economic, technological, and geopolitical shifts, Vietnam’s economy has shown strong resilience, maintaining projected growth of around 8%, among the highest regionally and globally. The country continues to drive reforms, strengthen the legal system, support the private sector, promote science-technology, innovation and digital transformation, and deepen international integration.
At the event, many countries emphasised UNCTAD’s central role in helping nations develop sustainable trade policies, attract responsible investment, facilitate technology transfer, and turn debt into a tool for development. They also called for reforming the multilateral system, enhancing coordination, and taking concrete action to make global trade a true driver of peace, prosperity, and sustainable development.
Within the framework of the UNCTAD session, Deputy FM Hang held bilateral meetings with Qais Bin Mohammed Al Yousef, Minister of Commerce, Industry, and Investment Promotion of Oman; Namgyal Dorji, Minister of Industry, Commerce and Employment of Bhutan; Alexandre Fasel, State Secretary for Foreign Affairs of Switzerland; Steven Collet, Vice Minister for International Cooperation of the Netherlands; and Stephan Mergenthaler, Managing Director at the World Economic Forum (WEF). During the meetings, the countries expressed admiration for Vietnam’s remarkable development, and praised its contributions to global efforts in addressing climate change, promoting green transition, and fostering new growth drivers such as technology and innovation. They also agreed to strengthen dialogue and cooperation in areas of mutual interest, including innovation, green finance, intellectual property, and sharing experience in building and developing an international financial centre in Vietnam.
Hang emphasised the importance of bilateral relations and requested continued experience-sharing and expert support to help Vietnam advance digital transformation, apply science and technology, and strengthen disaster response and climate change adaptation capacities.
She urged Switzerland to continue accompanying and supporting Vietnam in its new development phase, focusing on areas where Switzerland has global strengths such as education, innovation, science and technology, and the establishment of the international financial centre in Ho Chi Minh City and Da Nang.
In discussions with the Omani minister, Hang urged Oman to increase investment in Vietnam, support the initiation of Free Trade Agreement (FTA) negotiations between Vietnam and the Gulf Cooperation Council (GCC) countries, and cooperate in promptly organising a meeting of the bilateral economic committee.
During the Vietnamese official’s meeting with the Bhutanese minister, both sides discussed concrete measures to implement the important results of the King and Queen of Bhutan’s visit to Vietnam in August. They agreed to strengthen trade exchanges, tourism cooperation, cultural interaction, and people-to-people connections in the near future.
Meeting with the Dutch vice minister, Hang proposed both sides continue to explore ways to deepen and make bilateral relations more substantive and effective. She also urged the Netherlands to promptly ratify the EU-Vietnam Investment Protection Agreement (EVIPA) and advocate for the EU to lift the “yellow card” warning on Vietnam regarding illegal, unreported, and unregulated (IUU) fishing.
Talking to the WEF Managing Director, the Vietnamese Deputy FM welcomed and highly valued WEF’s cooperation in preparing for the upcoming WEF Autumn Economic Forum in Ho Chi Minh City in November. She requested continued collaboration to support Vietnam in promoting a science- and innovation-driven economy, developing the private sector, advancing smart production, and attracting high-quality investment./.
