Vietnam, UN reinforce development partnership amid global shifts

Minister of Finance Nguyen Van Thang hosted the meeting in Hanoi with Pauline Tamesis, United Nations (UN) Resident Coordinator, along with heads of several UN agencies including UNICEF, ILO, UNDP, UNIDO, WHO, UN Women, and UNFPA.

The meeting followed the P4G Summit held in April in Hanoi, an event where Vietnam played host with a significant contribution from the UN.

Minister Thang expressed his pleasure at meeting Tamesis again, commending her leadership since she assumed her post in Vietnam in June 2022.

“I highly appreciate Tamesis' leadership in steering UN activities in Vietnam,” said Thang. “The UN’s support has been instrumental in mobilising and executing non-refundable development aid, amounting to more than $400 million for each five-year cooperation cycle.”

Thang noted that both Vietnam and the UN are at a critical juncture amid rapid global changes. He affirmed Vietnam’s strong determination to pursue a new era of prosperous and sustainable development.

“Vietnam values international expertise and policy advice that supports our efforts to achieve the Sustainable Development Goals (SDGs), avoid the middle-income trap, and bridge development gaps with regional and global peers,” he stated.

Tamesis expressed her appreciation for the recognition of the UN’s contributions in facilitating resource mobilisation, supporting Vietnam’s development efforts, and advancing national development priorities.

“We are grateful that our efforts in mobilising development resources and policy advocacy have been recognised. The UN remains committed to supporting Vietnam in achieving its SDGs and national priorities,” Tamesis said.

She also presented highlights from the UN’s Annual Report and initial results from the first year of implementing the Vietnam-UN Sustainable Development Cooperation Framework.

Furthermore, she proposed continued collaboration to align UN support with Vietnam’s development agenda and encouraged Vietnam’s participation in the upcoming Fourth International Conference on Financing for Development, scheduled for late June and early July in Spain.

Addressing future cooperation priorities, Minister Thang urged UN organisations to provide early forecasts on emerging global and regional trends and potential crises that could impact Vietnam.

He also called for stronger policy advisory support to help the Vietnamese government manage socioeconomic affairs effectively.

Thang suggested that the UN system advocate for Vietnam’s ownership of data, technology, knowledge, and outcomes generated through donor-funded programmes and projects implemented via UN agencies.

The minister also emphasised the need for a timely review of the ongoing 2022-2026 Vietnam-UN Country Programme and the early development of a new joint strategy for the subsequent phase, aligned with Vietnam’s evolving development needs.

“The Ministry of Finance will continue to foster cooperation with the United Nations, facilitating effective implementation of development programmes and coordinating efforts in UN development system reform,” Minister Thang concluded.

Vietnam is navigating the shifting currents of global trade and seeking to sustain its economic growth. Barry Weisblatt, head of research at VNDirect Securities, spoke with VIR’s Khanh Linh about the strategic avenues the country must explore to capitalise on its potential.

As global trade dynamics shift and financial markets brace for new developments, Trinh Ha, senior analyst at Exness Investment Bank, talked with VIR’s Thy Nguyet about Vietnam’s positioning in global supply chains, the evolving landscape of its capital markets, and the outlook for safe-haven assets like gold.

Foreign investors are reinforcing their investments in both industrial infrastructure and large-scale projects, showing that Vietnam remains an attractive destination.