Vietnam upholds mobilization, use, management of financing support for sustainable development

WVR/VNA - State capital and private resources both play an important role in meeting financial needs for 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, 2024.

To implement the Agenda 2030 on sustainable development, Nguyen, who is also Chargé d’Affaires of the Permanent Delegation of Vietnam to the United Nations, emphasized the importance of North-South and South-South cooperation, trilateral and quadrilateral cooperation models to share experience, technology, and capital for Southern countries.

Vietnam upholds mobilisation, use, management of financing for sustainable development | Politics | Vietnam+ (VietnamPlus)
Minister Counsellor Nguyen Hoang Nguyen. (Photo: VNA)

He called on developed countries to fully implement their commitments to spend 0.7 per cent of their Gross National Income (GNI) on ODA capital and contribute 100 billion USD each year to help developing ones cope with climate change.

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

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

Vietnam announced the Voluntary National Review (VNR) in 2023 and is implementing its National Strategy on Climate Change by 2030, thereby affirming its efforts and determination to mobilize use and manage to finance sustainable development.

Next year, it will host the 4th Partnering for Green Growth and the Global Goals 2030 (P4G) Summit to promote global efforts on green transformation and sustainable development.

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(Source: VNA)