As the most important event of the OECD-run Southeast Asia Regional Program (SEARP) in 2023, the forum drew the participation of Vietnamese Deputy Prime Minister Tran Luu Quang, OCED Secretary-General Mathias Cormann, Vietnamese Minister of Foreign Affairs Bui Thanh Son 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.
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At the OECD-Southeast Asia Ministerial Forum 2023 |
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 Vietnam’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 Vietnam.
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.
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 Vietnam’s role as the Co-chair of the SEARP, while underscoring the forum’s significance to promoting inter-Governmental and inter-regional cooperation in realizing 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 Bui Thanh Son 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 Vietnam - OECD investment forum will be organized in Hanoi on October 27 within the framework of the SEARP.
Source: VNA