Politics

Vietnam upholds mobilisation, use, management of financing for sustainable development

State capital and private resources both play an important role in meeting financial needs for development and implementation of the sustainable development goals (SDGs), Minister Counsellor Nguyen Hoang Nguyen told the 2024 ECOSOC Financing for Development (FfD) Forum, held in New York from April 22-25.
Vietnam upholds mobilisation, use, management of financing for sustainable development ảnh 1Minister Counsellor Nguyen Hoang Nguyen (Photo: VNA)
New York (VNA) - State capital and private resources both play animportant role in meeting financial needs for development and implementation ofthe sustainable development goals (SDGs), Minister Counsellor Nguyen HoangNguyen told the 2024 ECOSOC Financing for Development (FfD) Forum, held in NewYork from April 22-25.

Nguyen, who is also Chargé d’Affaires ofthe Permanent Delegation of Vietnam to the United Nations, emphasised theimportance of North-South and South-South cooperation, trilateral andquadrilateral cooperation models to share experience, technology, and capitalfor Southern countries to implement the Agenda 2030 on sustainable development.

He called ondeveloped countries to fully implement their commitments to spend 0.7% of theirGross National Income (GNI) on ODA capital and contribute 100 billion USD each yearto help developing ones cope with climate change.

Agreeing with the Vietnamese delegation’s ideas, delegates to the forum saidthat 2024 is a very important time to strongly implement measures towardscompleting the SDGs by 2030.

They reached a consensus on approving a documenton the forum's outcomes, which affirmed their commitment to continue efforts tomobilise financial resources for development, encourage and promote theparticipation of the private sector, strengthen international cooperation inthe field of tax and debt management, and take advantage of scientific,technological and innovation achievements to serve sustainable development.

Vietnam announced the Voluntary NationalReview (VNR) in 2023 and is implementing its National Strategy on ClimateChange by 2030, thereby affirming its efforts and determination to mobilise anduse and manage financing for sustainable development.

Next year, it will host the 4th Partneringfor Green Growth and the Global Goals 2030 (P4G) Summit to promote globalefforts on green transformation and sustainable development./.
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