Vietnam supports visions to respond to global challenges, promote economic recovery

Vietnam supports the implementation of visions and roadmaps outlined in the Bridgetown Covenant adopted at the 15th session of the UN Conference on Trade and Development (UNCTAD15) in October 2021 to help countries overcome inequality and vulnerability towards comprehensive and sustainable recovery after the COVID-19 pandemic, a Vietnamese diplomat has said. 

Ambassador Le Thi Tuyet Mai, Permanent Representative of Vietnam to the United Nations (UN), the World Trade Organisation and other international organisations in Geneva, made the comment at a high-level debate themed “Getting the global economy back on track and addressing the most pressing challenges” within the framework of the 72nd executive session of the UNCTAD in Geneva on October 20-21. 

At the meeting, the Vietnamese diplomat affirmed that Vietnam strongly supports the central role played by the UN, including UNCTAD, in global governance to address common global challenges.

She underlined the need for solutions and coordinated actions at the international, regional and national levels to address challenges and create conditions for inclusive and sustainable growth, saying that people should be put at the heart of development policies and strategies.

The support of development partners is needed to come up with innovative solutions and actions in order to secure resources and finance from all sources to increase support for low-income countries, especially under-developed country, in addressing global issues to promote trade and inclusive and sustainable development, she said.

Mai also shared Vietnam’s achievements in controlling the COVID-19 pandemic and implementing the socio-economic development and recovery programme, saying that Vietnam is transforming its economic model towards a digital economy, innovation, green and sustainable growth, and harmony between economic development, environmental protection and social welfare for the people. 

As one of the most vulnerable countries to negative impacts of climate change, Vietnam continues to participate in climate change adaptation initiatives and commitments such as the goal of becoming carbon neutral by 2050, Mai stressed, adding that Vietnam expects to receive support from the UN agencies and other partners in promoting green finance and the Just Energy Transition Partnership (JETP) initiative. 

At the event, delegates shared their optimism about the multilateral system, saying that addressing a series of crises facing the world and moving the global economy on the right track require greater will and actions.

UN Deputy Secretary-General Amina Mohammed called for increased liquidity for developing countries to help them cope with inflation, public debts and climate change./.