Deputy FM Nguyen Minh Hang attends UNCTAD 16 in Geneva, promoting sustainable economic transformation
WVR - On October 21, the 16th Ministerial Conference of the United Nations Conference on Trade and Development (UNCTAD 16) continued in Geneva, Switzerland, with general discussions on the theme “Shaping the Future: Promoting Economic Transformation Towards Fair, Inclusive, and Sustainable Development”. Deputy Foreign Minister Nguyen Minh Hang attended the Conference.
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| On October 21, Deputy Minister Nguyen Minh Hang speaks at the General Discussion Session during the UNCTAD Ministerial Conference. (Photo: Bao Chi) |
Speeches at the conference highlighted the global context with intertwined challenges – from geopolitical polarization, supply chain disruptions, to debt crises and increasing inequality. Delegates agreed that fair, transparent, and inclusive trade is a key driver to promote growth, create jobs, and bridge the development gap between nations.
Many countries emphasized UNCTAD's central role in supporting nations to build sustainable trade policies, attract responsible investment, transfer technology, and transform debt into a development tool. They also called for reforming the multilateral system, enhancing coordination, and taking substantive actions to make global trade truly a driver of peace, prosperity, and sustainable development.
Speaking at the General Discussion Session of the Conference, Deputy Foreign Minister Nguyen Minh Hang assessed that the world is facing transformative shifts in economics, technology, and geopolitics, while the global trade environment becomes fragmented and unpredictable, deeply affecting developing countries.
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| Deputy Minister Nguyen Minh Hang and Mr. Namgyal Dorji, Minister of Industry, Trade and Employment of Bhutan. (Photo: Bao Chi) |
In this context, Vietnam's economy has shown resilience against external shocks, maintaining high growth, projected at about 8%, among the highest in the region and the world. Vietnam is continuing to push forward reforms, focusing on legal system reform, encouraging private sector development, promoting science and technology, innovation, digital transformation, and deep international integration.
To contribute to the international community's efforts to promote inclusive, sustainable, and resilient economic transformation, with trade as the central driver, Deputy Foreign Minister Nguyen Minh Hang proposed three policy recommendations: (i) Strengthen cooperation and robustly reform global trade and financial institutions towards openness, fairness, and inclusivity, adapting to profound current changes, while reflecting the voices of developing countries; (ii) Enhance resilience capacity for developing countries through financial and technological support, promote gender equality, and expand the participation of small and medium enterprises in the global value chain; (iii) Promote dual transformation, focusing on green and digital economies, considering trade and investment as drivers to reduce emissions, circular economy, and innovation, while ensuring inclusive sustainability standards, not becoming barriers for developing countries.
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| Deputy Foreign Minister Nguyen Minh Hang works with Mr. Steven Collet, Deputy Minister of Foreign Affairs of the Netherlands. (Photo: Bao Chi) |
On the occasion of attending the Conference, Deputy Minister Nguyen Minh Hang also held bilateral meetings with Minister of Commerce, Industry, and Investment Promotion of Oman Qais Bin Mohammed Al Yousef, Minister of Industry, Trade and Employment of Bhutan Namgyal Dorji, State Secretary of the Swiss Federal Department of Foreign Affairs Alexandre Fasel, Deputy Minister of Foreign Affairs of the Netherlands Steven Collet, Executive Director of the World Economic Forum Stephan Mergenthaler, and Director of the Swiss Innovation Park Dominic Gorecky.
In these meetings, countries expressed their admiration for Vietnam's remarkable development, rising strongly to become a middle-income country with one of the fastest growth rates in Southeast Asia. They highly appreciated Vietnam's contributions to the global effort to address challenges such as climate change, green transition, and promoting new growth drivers like technology and innovation. They agreed to enhance dialogue and cooperation in areas of mutual interest such as innovation, green finance, intellectual property, and sharing experiences in building and developing international financial centers in Vietnam.
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| Deputy Minister Nguyen Minh Hang and Mr. Alexandre Fasel, State Secretary of the Swiss Federal Department of Foreign Affairs. (Photo: Bao Chi) |
Deputy Foreign Minister Nguyen Minh Hang affirmed the importance of bilateral relations with partners, suggesting continued sharing of experiences and sending experts to support Vietnam in digital transformation, science and technology application, enhancing disaster response capacity, and adapting to climate change in the coming time.
The Deputy Minister suggested that Switzerland continue to support Vietnam in the new development phase, focusing on education, innovation, science and technology, establishing international financial centers in Ho Chi Minh City and Da Nang, areas where Switzerland has world-leading strengths.
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| Deputy Minister Nguyen Minh Hang meets with Mr. Qais Bin Mohammed Al Yousef, Minister of Commerce, Industry, and Investment Promotion of Oman. (Photo: Bao Chi) |
In discussions with the Minister of Commerce, Industry, and Investment Promotion of Oman, Deputy Minister Nguyen Minh Hang emphasized that Vietnam is actively implementing the contents exchanged during the political consultations between the two countries in September 2025 in Oman. She suggested Oman increase investment in Vietnam, support the initiation of FTA negotiations between Vietnam and the Gulf Cooperation Council (GCC) countries, and coordinate to organize the Joint Economic Committee soon.
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| Deputy Minister Nguyen Minh Hang meets with Mr. Dominic Gorecky, Director of the Swiss Innovation Park. (Photo: Bao Chi) |
At the meeting with the Minister of Industry, Trade and Employment of Bhutan, both sides discussed specific measures to implement the important outcomes achieved during the visit of the King and Queen of Bhutan to Vietnam in August 2025. Both sides agreed to enhance trade exchange, tourism cooperation, cultural exchange, and people-to-people exchange in the coming time.
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| Deputy Minister Nguyen Minh Hang meets with Mr. Stephan Mergenthaler, Executive Director of the World Economic Forum. (Photo: Bao Chi) |
In discussions with the Deputy Minister of Foreign Affairs of the Netherlands, Deputy Minister Nguyen Minh Hang suggested both sides continue to consider promoting and deepening bilateral relations more substantively and effectively, aiming for new heights. She urged the Netherlands to soon ratify the EVIPA and voice support for the EU to lift the IUU yellow card on Vietnam.
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| Overview of the Conference. (Photo: Bao Chi) |
In exchanges with the WEF, Deputy Foreign Minister Nguyen Minh Hang welcomed and highly appreciated the cooperation and coordination of the WEF in preparing for the Autumn Economic Forum to be held in Ho Chi Minh City from November 25-27. She suggested that the WEF continue to cooperate and support Vietnam in promoting economic development based on science, technology, and innovation, developing the private economic sector, smart manufacturing, and attracting high-quality investment capital.
