At the OECD-Southeast Asia Ministerial Forum 2023. (Photo: VNA)

 HÀ NỘI The Organisation for Economic Cooperation and Development (OECD) – Southeast Asia Ministerial Forum 2023 was organised under the theme of “Sustainable and Quality Investment: New Momentum for OECD- Southeast Asia Partnership” in Hà Nội on October 26. 

As the most important event of the OECD-run Southeast Asia Regional Programme (SEARP) in 2023, the forum drew the participation of Vietnamese Deputy Prime Minister Trần Lưu Quang, OCED Secretary-General Mathias Cormann, Vietnamese Minister of Foreign Affairs Bùi Thanh Sơn and more than 200 ministers, deputy ministers, ambassadors and representatives from 48 OECD member states and Southeast Asian countries, and many scholars, experts and business community.

In his speech, Deputy Prime Minister Quang said that although Southeast Asia has many advantages in FDI attraction, the region is facing an array of challenges, especially in luring quality and sustainable investment; therefore it is necessary to promote linkages and effective partnership between regions, countries and enterprises.

Highlighting Việt Nam’s socio-economic development achievements after nearly four decades of “Doi moi” (Renewal), Quang reaffirmed that foreign investment is an important component of the Vietnamese economy, and the Vietnamese Government is committed to accompanying investors to protect their legitimate rights, and create a sound business climate for them to expand production and business in the country. 

He went on to outline five main cooperation orientations to strengthen investment collaboration between regions, with the first being promoting policy consultancy, technical support and experience sharing with Southeast Asian countries in building institutions and improving national governance capacity in sustainable investment.

Second, it is a must to create motive for investment cooperation in sustainable development in emerging and key fields such as energy transition, green growth, digital economy, circular economy and eco-agriculture.

Third, stakeholders should join hands to set up platforms for sustainable investment in the region.

Fourth, it is necessary to establish sustainable and quality investment models.

Attending the Organisation for Economic Cooperation and Development (OECD)’s Ministerial Council Meeting in Paris on May 2 and 3, Minister of Foreign Affairs Bui Thanh Son delivered a speech at its inaugural plenary session, whose theme highlighted an inclusive and sustainable economy and society.

In his remarks, he stressed that Vietnam does not pursue growth at all costs and always places human beings at the centre as the subject and objective of development.

Son proposed that the OECD take the lead in promoting global cooperation, specifically in building a global innovative ecosystem that effectively harnesses the dual trends of green transition and digital transformation, with a focus on innovation, AI, and just energy transition.

He added that it is necessary to establish mechanisms for experiences sharing and capacity building to help countries maximise human potential, unleash growth drivers, and foster inclusive prosperity, while encouraging OECD countries to provide financial, technical, and technological support for non-OECD ones’ implementation of strategic breakthroughs, particularly in human resources, infrastructure, and institutions

Fifth, the Deputy Prime Minister called for unceasingly consolidating a peaceful and stable environment for cooperation development which he said is a prerequisite factor.

At the forum, participants hailed Việt Nam’s role as the Co-chair of the SEARP, while underscoring the forum’s significance to promoting inter-Governmental and inter-regional cooperation in realising common development goals which help promote the strengths of the OECD member states, and meet the needs and interests of Southeast Asian countries.  

The OECD countries reaffirmed the strategic importance of the Southeast Asian region in the OECD’s global policy, and committed to supporting the Southeast Asian nations in boosting inclusive, sustainable and quality investment, and promoting green transition and digital transformation for inclusive and sustainable development.

In his closing remarks, Vietnamese FM Bùi Thanh Sơn underlined that enhancing sustainable and quality investment should become a driver for the OECD-Southeast Asia partnership, while stakeholders should give priority to new cooperation areas such as green transition and digital transformation.

Furthermore, cooperation between regions should be elevated, and implementation of the OCED’s strategic framework for the Indo-Pacific should be made in tandem with the ASEAN’s outlook on Asia-Pacific, he added.

A Việt Nam – OECD investment forum will be organised in Hà Nội on October 27 within the framework of the SEARP.