VCN – On the afternoon of August 29, at the headquarters of the Ministry of Finance, Minister Ho Duc Phoc had a meeting with Ms. Caitlin Wiesen, President Representative of the United Nations Development Program (UNDP) in Viet Nam and her working group. Attending the meeting were also representatives of some units under the Ministry of Finance.
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| Minister of Finance Ho Duc Phoc and Ms. Caitlin Wiesen UNDP President Representative in Vietnam |
Welcoming Ms. Caitlin Wiesen to visit and work with the Ministry of Finance on the occasion of the end of her tenure as UNDP President Representative in Vietnam, the Minister said: 2022 marks the 45th year of Vietnam’s accession to the United Nations, the Minister would like to thank and appreciate the financial and technical support that United Nations organizations (including UNDP) have given to Vietnam, helping Vietnam reconstruct the country after wars and gradually integrate into the world, stabilize and develop socio-economic, and improve people’s quality of life.
In the field of financial cooperation, Minister Ho Duc Phoc would like to thank and appreciate the important contributions of Ms. Caitlin Wiesen in the cooperation between the Government and the Ministry of Finance of Vietnam and UNDP. The Minister hoped that in her new position, Ms. Caitlin Wiesen would continue to support the Ministry of Finance of Vietnam in the process of reforming public financial management, contributing to the realization of Vietnam’s sustainable economic development goals.
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| The meeting |
The Minister said that UNDP has supported US$13.51 million of non-refundable aid through the implementation of eight programs/projects and is the third largest donor of the Ministry of Finance.
“UNDP’s support has made a positive contribution to the reform process of various public financial management areas such as state budget management, public debt management, corporate financial management, and strengthened financial policy analysis capacity for the Ministry of Finance of Vietnam,” the Minister said.
The Minister also suggested that UNDP continue to accompany Vietnam and the Ministry of Finance in implementing the Sustainable Development Goals (SDGs) and combating climate change; including helping Vietnam mobilize finance for development and providing advice on financial policy for post-pandemic recovery towards green and sustainable development.
The Minister said that as one of the countries heavily affected by climate change, Vietnam is determined to implement its commitments at COP26, and strive to achieve “net zero emission” by 2050. This requires huge financial resources and technology transfer.
Currently, Vietnam is also making strong progress in the transition to renewable energy. The Minister wishes that UNDP will continue to provide technical and financial support to Vietnam to realize this target.
Speaking at the meeting, Ms. Caitlin Wiesen congratulated the Ministry of Finance on successfully developing the National Financial Strategy to 2030. UNDP wishes for further cooperation with the Ministry of Finance in the areas of support to enhance transparency in the financial market, stock market and capital market.
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Sharing about the energy transition from using fossil energy to renewable energy sources such as wind power, solar power, Ms. Caitlin Wiesen said that, according to international experience, Vietnam can mobilize resources for this transition, UNDP will study different financial mechanisms to serve Vietnam’s transition in the near future.
By Hoai Anh/ Huyen Trang