Deputy Prime Minister Tran Hong Ha attends the closing session of the Summit on the New Global Financial Compact

On the afternoon of June 23, the Summit on the New Global Financial Compact in Paris, France closed successfully.

Phó Thủ tướng Trần Hồng Hà dự phiên bế mạc Hội nghị thượng đỉnh về Hiệp ước tài chính toàn cầu mới

Deputy Prime Minister Tran Hong Ha and senior leaders of countries attended the closing session of the Summit on the New Global Financial Compact.

During the two-day conference, more than 100 discussion sessions took place, with the participation of nearly 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 (IMF) and many representatives of the business community, investment funds and socio-political organizations.

The leaders reached common awareness and agreed on a number of important contents on transforming the growth model, reforming the international financial system and innovating the model of multilateral development banks, and mobilizing the participation of the private sector to respond to global challenges.

Some of the contents emphasized by the leaders include:

First , all financial resources, including official development assistance, domestic resources and private investment, need to be leveraged to address global challenges.

Second, promote international solidarity, manage international financial structures effectively, fairly and appropriately in the current international context.

Third , ensure a number of principles: Poverty reduction and sustainable development need to go hand in hand; It is necessary to diversify energy transition strategies, implement climate goals associated with the specific conditions of each country; and promote the important role of private finance in emerging and developing economies.

The Paris Summit demonstrated the international community's deep concern for global challenges and the joint efforts of countries and international organizations in addressing issues of poverty and climate change to ensure sustainable development goals.

Developed countries have made a number of specific commitments on financial support for developing countries such as: allocating 100 billion Special Drawing Rights (SDR) to vulnerable countries; striving and having a high probability of achieving the target of mobilizing 100 billion USD in climate finance and promoting the enhancement of the lending capacity of multilateral banks by 200 billion USD in the next 10 years...

The conference adopted a number of important outcome documents such as the Paris Consensus on People and the Planet, the Vision Statement of Multilateral Development Banks, the Summary of the Conference's Outcomes and the Roadmap for Implementing Commitments.

Deputy Prime Minister Tran Hong Ha received US Special Presidential Envoy for Climate John Kerry.

On the occasion of the closing ceremony of the Conference, Deputy Prime Minister Tran Hong Ha received US Special Presidential Envoy for Climate John Kerry. Both sides expressed satisfaction with the positive developments in the Vietnam-US Comprehensive Partnership in many areas over the past time on the basis of equality, mutual respect and mutual benefit.

The Deputy Prime Minister affirmed his wish to continue developing the Comprehensive Partnership in depth and substance; emphasized that the two countries still have much potential for cooperation; and welcomed US partners to cooperate in the fields of renewable energy and smart power transmission in Vietnam.

Special Envoy John Kerry highly appreciated the commitment and efforts of the Vietnamese Government in developing renewable energy; he hoped that Vietnam would make many strides in this field to become an international model at COP28.

Mr. Kerry also affirmed that he will coordinate to mobilize resources from the US public and private sectors to support Vietnam in potential areas of cooperation, especially in the field of energy transition.

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