For the first time, Vietnam holds the role of Chair of the session of the UNCTAD committee.

Taking place from April 29 in Geneva, the 14th session of the Committee on Investment, Enterprise and Development within the framework of the United Nations Conference on Trade and Development (UNCTAD) has the participation of representatives of all member countries, specialized agencies, intergovernmental agencies, investment promotion agencies and non-governmental organizations.

Ambassador Mai Phan Dung was elected Chair of the 14th Session of the UNCTAD Committee on Investment, Enterprise and Development.

According to a VNA reporter in Geneva, Ambassador Mai Phan Dung, Head of the Permanent Delegation of Vietnam to the United Nations (UN), the World Trade Organization (WTO) and other international organizations in Geneva, was elected as Chairman of the session.

The meeting is an opportunity for member countries and stakeholders in investment and development to discuss major and emerging issues in the fields of investment, business and technology, their impacts on sustainable development, and to exchange effective solutions and policies for reference.

Vietnam's election as Chair for the first time at a session of a committee within the UNCTAD framework demonstrates the appreciation of this agency and member countries for Vietnam's policies and achievements in attracting investment and sustainable development in recent years, especially in Vietnam's priority areas such as digital transformation, green transformation, science - technology, artificial intelligence, etc.

This is also an opportunity for Vietnam to demonstrate its active and proactive role at UNCTAD in particular and other international forums of the UN in general.

The main content of this session focuses on the latest developments in trends and policies in the fields of investment, business and science and technology for development; best practices in implementing business and investment support policies to promote sustainable development; development directions in using digital investment and business support tools to expand e-government activities; exploiting blockchain technology for sustainable development, as well as challenges that developing countries face in applying blockchain technology.

Under the chairmanship of Ambassador Mai Phan Dung, delegates engaged in lively discussions and proposed many specific solutions to key issues. The Group of 77 and China highly appreciated UNCTAD’s work and analysis on foreign direct investment (FDI) and other investment flows in the annual World Investment Report (WIR), and expressed concern about the lack of sufficient investment capital needed to advance the Sustainable Development Goals (SDGs), emphasizing the urgent need to significantly increase both public and private investment to achieve the SDGs before the 2030 deadline.

The Asia-Pacific Group supported UNCTAD’s initiatives on investment facilitation; welcomed the topic of blockchain technology at the meeting; noted that despite significant progress, the Association of Southeast Asian Nations (ASEAN) region has yet to find room to improve, attract, facilitate and retain investment.

The African Group reaffirmed the need for strategic and sustainable investment in the continent to address FDI volatility, as well as critical infrastructure gaps.

Representatives of the African group also assessed the important role of technology and digital trade in helping countries overcome barriers to attract sustainable investment across three pillars: social, economic and environmental.

The committee is expected to continue discussing the main contents of the meeting in the coming sessions. In addition, countries will also listen to presentations, discuss and approve two reports of the committee, including a report on investment, innovation and entrepreneurship to improve production capacity and sustainable development, and a report of an intergovernmental working group of experts on international accounting and reporting standards.

According to Chinhphu.vn

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