Luxembourg supports 7 million Euros to help Vietnam respond to climate change

On the morning of May 4, Prime Minister Pham Minh Chinh held talks with Prime Minister Xavier Bettel to discuss comprehensively the socio-economic situation of each country, bilateral cooperation, and regional and international issues of mutual concern.

The two Prime Ministers agreed on measures to enhance political trust and deepen the friendship and multifaceted cooperation between the two countries, especially increasing the exchange of delegations at all levels, especially high-level ones, as well as effectively implementing bilateral cooperation mechanisms and studying the establishment of new cooperation mechanisms suitable to the potential and development needs of the two countries.

Prime Minister Pham Minh Chinh affirmed that he attaches importance to the friendship and multifaceted cooperation with Luxembourg, a founding member with an important role in the European Union.

Luxembourg ranks third among European countries investing in Vietnam with total investment capital reaching 2.6 billion USD.

Prime Minister Pham Minh Chinh welcomed the delegation of leading Luxembourg businesses in areas of strength such as finance, banking, logistics, energy conversion, etc. to attend the Vietnam – Luxembourg Business Forum.

The two sides agreed to promote the construction of logistics centers and establish bonded warehouse systems in each country.

The Luxembourg Prime Minister agreed to fully and effectively implement the Vietnam - EU Free Trade Agreement (EVFTA) to enhance trade between the two countries.

The two Prime Ministers welcomed the establishment of the Strategic Partnership on Green Finance by the two countries' Ministries of Finance, a new pillar of cooperation that contributes to deepening the Vietnam-Luxembourg relationship.

Regarding development cooperation, Prime Minister Pham Minh Chinh proposed that Luxembourg continue to provide ODA to Vietnam in the fields of finance and banking.

Luxembourg Prime Minister supports strengthening EU-Vietnam cooperation on sustainable fisheries development

The two sides agreed to strengthen cooperation in other fields such as culture, science and technology, information and communication, people-to-people exchange, tourism, and climate change response.

Especially in education and training, the Luxembourg Prime Minister supports increasing scholarships for Vietnamese students to study in this country.

This afternoon, National Assembly Chairman Vuong Dinh Hue met with Luxembourg Prime Minister Xavier Bettel.

The National Assembly Chairman welcomed the very successful results of the talks between Prime Minister Pham Minh Chinh and Prime Minister Xavier Bettel. He said that the Vietnamese National Assembly highly appreciated the friendship and cooperation between the two countries, including on the Government and Parliament/National Assembly channels.

The National Assembly Chairman thanked Luxembourg for its continued support for Vietnam, especially in the fields of poverty reduction and climate change adaptation.

The National Assembly Chairman also appreciated the signing of many cooperation agreements between the two countries, especially the establishment of a Strategic Partnership framework on green finance.

Luxembourg's strengths are in finance and banking, the National Assembly Chairman said, the Vietnamese National Assembly is perfecting the legal framework for these areas. The two sides need to promote cooperation, increase exchanges and share legislative experiences in the fields of finance and banking, and promote the development of high value-added service sectors related to banking, finance, securities, insurance, etc.

Prime Minister Xavier Bettel said that during his talks with Prime Minister Pham Minh Chinh, Luxembourg announced two projects worth a total of 7 million Euros to support Vietnam in protecting the environment and adapting to climate change. This shows Luxembourg's determination to help Vietnam in the transition process, contributing to preserving the environment and beautiful landscapes for future generations.

On May 5, the two sides will hold an economic forum with the participation of 25 Luxembourg businesses. Impressed by Vietnam's economic policy in the context of the global recession, the Luxembourg Prime Minister said that Vietnam not only focuses on economic development, but also on reducing greenhouse gas emissions.

Prime Minister Xavier Bettel hopes that Vietnam will soon abolish visa requirements for Luxembourg citizens, thereby facilitating the promotion of economic, trade and people-to-people cooperation.

Digital transformation is a priority area for the Luxembourg Government, Prime Minister Xavier Bettel affirmed, ready to discuss this area with Vietnam.

The National Assembly Chairman appreciated the signing of many cooperation agreements between the two countries, especially the establishment of a Strategic Partnership framework on green finance.

National Assembly Chairman Vuong Dinh Hue emphasized that the areas in which the two countries can strengthen cooperation in the coming time are economics, trade and investment. The fact that 25 large Luxembourg enterprises accompanied Prime Minister Xavier Bettel's delegation is a very good sign.

Vietnam welcomes and hopes that more Luxembourg investors will be interested and present, because Vietnam has great potential in terms of both population and economic scale. The two sides are also fully capable of cooperating to maintain and perfect the new supply chain in the context of the current complex and unpredictable world situation.

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