Vietnam calls on UNCTAD to continue supporting developing countries

The Global Leaders Forum, commemorating the 60th anniversary of the United Nations Conference on Trade and Development (UNCTAD), took place at UN headquarters in Geneva, Switzerland, from June 12 to 13, local time.

The Vietnamese delegation, led by Deputy Minister of Foreign Affairs Nguyen Minh Hang, attended the forum.

Attending the forum, Deputy Minister Nguyen Minh Hang spoke at two discussion sessions on "Promoting Sustainable Investment Flows and Enhancing the Efficiency of Global Supply Chains" and "Preparing for the Future Economy – Urgent Options and Actions".

Thứ trưởng Bộ Ngoại giao Nguyễn Minh Hằng đã phát biểu tại diễn đàn. Ảnh: BNG — Deputy Minister of Foreign Affairs Nguyen Minh Hang delivered a speech at the forum. Photo: Ministry of Foreign Affairs.

In her speech, Deputy Minister Nguyen Minh Hang highly appreciated the achievements and contributions of UNCTAD over the past 60 years in its role as a representative of the voice of developing countries and in promoting global trade and investment. Sharing her assessment of the opportunities and challenges facing global economic growth, trade, investment, and sustainable development, Deputy Minister Nguyen Minh Hang emphasized five challenges: the inability of developing countries to adapt to the rapid and profound changes in the world; the large development, technological, and investment gaps between countries; limited financial, human, and natural resources; complex climate change and environmental challenges; geopolitical tensions, fragmentation trends, and increasing competition.

In this context, Deputy Minister Nguyen Minh Hang proposed five directions for UNCTAD to continue playing its role and supporting developing countries in the future. Firstly, to continue leading the way in promoting multilateralism and strengthening global cooperation. Secondly, to develop an open trade and investment system that benefits all countries and stakeholders. Thirdly, UNCTAD should support the enhancement of the voices of developing countries in the process of policy making, regulations, and global standards, especially in emerging areas such as green growth, digital transformation, and innovation. Fourthly, to support developing countries in strengthening their resilience to external shocks and multiple crises. Fifthly, to strengthen the alignment of UNCTAD's activities with global agendas.

Deputy Minister Nguyen Minh Hang also shared Vietnam's economic development achievements, development policies and orientations, investment policies, and international integration. Deputy Minister Nguyen Minh Hang thanked UNCTAD for its support to Vietnam in the past and requested UNCTAD to continue accompanying Vietnam on its future development journey. Deputy Minister Nguyen Minh Hang affirmed Vietnam's commitment to supporting UNCTAD's cooperation goals and orientations.

On the occasion of attending the event, Deputy Minister Nguyen Minh Hang met with UNCTAD Secretary-General Rebeca Grynspan, World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala, World Economic Forum (WEF) Managing Director Mirek Dusek, and Cambodian Senior Minister in charge of special affairs Sok Siphana.

According to the People's Army Newspaper

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