Việt Nam has consistently supported multilateralism as the most effective means of addressing global challenges, according to the country’s Ambassador to Russia, Ngo Duc Manh. In an article, the ambassador elaborated on Việt Nam’s stance on multilateralism and why it is necessary in today’s world. He emphasized that Việt Nam firmly believes in the importance of international cooperation and collaboration to tackle issues such as climate change, economic inequality, and the COVID-19 pandemic. In this article, we examine Việt Nam’s approach to multilateralism and its role in addressing global challenges.
The Permanent Representative of Vietnam to the United Nations, Ambassador Đặng Hoàng Giang, emphasised the importance of promoting multilateralism in addressing the ongoing multidimensional crisis that the world is facing. He believes that multilateralism can help secure financial resources for the successful implementation of the Sustainable Development Goals (SDGs). Ambassador Giang made this statement during the 2023 UN Economic and Social Council (ECOSOC) Forum on Financing for Development, which was held from April 17th to April 20th.
The diplomat also urged the international community to make greater efforts to narrow the financial gap that exists between countries. He suggested that G7 and G20 nations ought to accelerate their commitments to providing developing countries with preferential financial resources for addressing climate change and working towards SDGs. He also stressed the importance of sharing experience and information about global policy changes such as the global minimum tax rate and carbon credit. Additionally, he emphasised the transfer of technology and the development of capacity for developing countries in digital transformation and green transition.
Ambassador Giang also mentioned that developing countries should improve their capacity to mobilise domestic resources, link SDGs with their development strategies, improve tax governance, and ensure national financial security. Finally, he underlined Vietnam’s willingness to contribute to joint efforts towards implementing the 2030 Agenda through promoting South-South and tripartite cooperation.
The aim of the forum was to discuss comprehensive measures for addressing current global challenges and promoting long-term financial policies to implement the SDGs. During his opening speech, the UN Secretary-General, Antonio Guterres, urged G20 countries to develop a stimulus package for SDGs implementation worth at least US $500 billion per year. The package would aim to increase the size of long-term financing and offer incentives to countries in need. The participating leaders of UN agencies and countries proposed a series of measures to increase financial resources for development, including monetary and fiscal policy options to address pressing issues, international cooperation on taxation, and financial security for sustainable industrial transformation and climate change response. They unanimously adopted a political declaration affirming their commitment to ensuring financial security serving development.
During the meeting, the Vietnamese delegation actively participated and contributed to several dialogue events, such as the International Labour Organisation (ILO) seminar on employment and social protection for just transition, the Global Development Initiative seminar, and various discussions with partners.
In conclusion, promoting multilateralism and financial security is crucial in tackling the global challenges of our time, and Ambassador Giang’s recommendations provide valuable insights into how we can achieve that. Additionally, Vietnam’s contribution to the forum is commendable, and their willingness to work towards the success of SDGs through South-South and tripartite cooperation reflects their commitment to international development.
