Founder's Insights

Notes from Prime Minister Pham Minh Chinh’s speech at the event organized by Standard Chartered Bank on the first day of COP 26 in Glasgow Scotland

Kenneth Atkinson OBE
By:

Prime Minster Chinh was accompanied by a delegation of approx. 180 people from Vietnam including Minister Dung from MPI, Minister Dien from MoIT and Minister Hoan from MoA.

His opening message was that Vietnam was in the process of restructuring the growth model to a green and sustainable model embracing a global and comprehensive approach.

PM Chinh stressed that “the present challenges arising from the Covid pandemic, gives Vietnam the opportunity for change and Vietnam has opportunities to learn from the first movers and to make progress on an integrated and global basis. Vietnam is one of the countries hardest hit by climate change and looks for justice and equality in combatting climate change. The human factor should be at the centre of our efforts for the common good.”

He went on to say that “Vietnam has identified 3 pillars for future growth: 1) High Quality Human Resources; 2) Administrative Reform; 3) Infrastructure Development. Attracting FDI remains important and the linkage between domestic enterprises and foreign invested companies needs to be improved. The Government recognizes the challenges for PPP and the Government is recommending changes in the legal regulations.”

PM Chinh stressed the need to have robust systems in place to deal with new strains and future outbreaks of Covid with the new strategy of “living with Covid”. These will be based on the 5K plus vaccine and treatment.

The major announcement from the PM was that Vietnam is committed to Net Zero by 2050 and Vietnam’s commitment is based on equity and justice with a transition to Green Development.

Additional comments from Minister Nguyen Chi Dung were focused on opening the economy with practical controls; a focus on social security and support; support for business with no discrimination between foreign and domestic; reducing taxes and bottlenecks; and Investment in key infrastructure mentioning the North South High Speed Rail link.

In summary, this was a good speech reinforcing Vietnam’s commitment to being an important member of the global community and a leader amongst developing countries. The commitment to Net Zero by 2050, was a major one and aligns Vietnam with the leading countries in the world. The speech also reinforced Vietnam’s commitment to political stability and to continued administrative and institutional reform.