Deputy Prime Minister Tran Hong Ha attended the opening of the Summit on the New Global Financial Compact in Paris, France.

At the Conference, Leaders focused on discussing building a new vision for the global financial system, promoting cooperation on many practical topics.

Phó Thủ tướng Trần Hồng Hà dự khai mạc Hội nghị Thượng đỉnh về Hiệp ước tài chính toàn cầu mới tại Paris, Pháp

French Foreign Minister Catherine Colona welcomed Deputy Prime Minister Tran Hong Ha to attend the opening session.

On the morning of June 22, the Summit on the New Global Financial Compact opened in Paris, France.

The conference was attended by more than 100 senior leaders of countries, including 40 Presidents and Heads of Government, many Government leaders and Ministers of countries, leaders of important international organizations such as the United Nations, the World Bank (WB), the International Monetary Fund and many representatives of the business community, investment funds and socio-political organizations.

At the Conference, Leaders focused on discussing building a new vision for the global financial system, promoting cooperation on many practical topics such as supporting developing countries with high debt levels, mobilizing private finance to implement global goals, encouraging investment in infrastructure for energy transition, and implementing goals on climate, biodiversity and sustainable development.

Deputy Prime Minister Tran Hong Ha attended the opening session of the Summit on the new global financial compact.

Speaking at the opening of the Conference, French President Emmanuel Macron emphasized that there cannot be a choice between poverty reduction and achieving climate goals, and that reform of the global financial system must aim to synchronously address these goals.

UN Secretary-General Antonio Guterres said the global financial architecture was “outdated, inefficient and unfair”, calling for immediate reform, and launched the SDG Stimulus with a target of 500 billion USD annually for investment in sustainable development and climate action.

The leaders emphasized the role of solidarity, cooperation and coordination in building an inclusive, transparent, people-first global financial system, reflecting the voices of developing and underdeveloped countries, and commitments that need to be implemented promptly with concrete actions.

Deputy Prime Minister Tran Hong Ha talks with World Bank President Ajay Banga.

On the occasion of attending the opening of the Conference, Deputy Prime Minister Tran Hong Ha had meetings with the President of the World Bank, the Canadian Minister of International Development and the Danish Minister of Global Climate Policy and Development Cooperation.

Deputy Prime Minister Tran Hong Ha congratulated Mr. Ajay Banga on assuming the role of President of the World Bank and hoped that the two sides would continue to strengthen ODA cooperation and effectively implement projects in Vietnam, especially in the fields of urban infrastructure development, climate change adaptation, energy transition and capacity building.

Deputy Prime Minister Tran Hong Ha talks with Canadian Minister of Development Harjit Singh Sajjan.

With Canada, the two sides expressed their delight at the multifaceted development of bilateral relations over the past five decades, and the increasingly strong Comprehensive Partnership; affirmed close coordination in implementing development cooperation projects, opening up new opportunities for investment and business. The Canadian Minister proposed strengthening cooperation in the fields of green development and energy transition.

Deputy Prime Minister Tran Hong Ha had a brief meeting on the sidelines with Danish Minister of Global Climate Policy and Development Cooperation Dan Jorsengen.

At the meeting with the Danish Minister, the two sides discussed measures to effectively implement the Just Energy Transition Partnership (JETP) Agreement, and soon officially establish a Green Strategic Partnership to elevate bilateral relations and support Vietnam's green transition.

The Summit on the New Global Financial Compact is expected to promote a new vision in reforming the global financial system and multilateral development banks, propose pioneering solutions in providing finance for development, and mobilize new resources from the private sector for sustainable development.

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