OECD meeting closes with key input from Vietnam's Ministry of Finance

Jun 6th at 13:48

06-06-2025 13:48:15+07:00

The 2025 Organisation for Economic Co-operation and Development (OECD) Ministerial Council Meeting concluded after two days of deliberations in Paris on June 4, with the Vietnamese Ministry of Finance delegation making significant contributions to the event's overall success.

At the meeting, participating countries engaged in in-depth discussions and advanced cooperation across key areas.

These included strengthening a rules-based global trading system, enhancing supply chain resilience and economic security, promoting innovation for sustainable development, and fostering fair competition.

During the sessions held on June 3-4, Vietnamese Minister of Finance Nguyen Van Thang introduced initiatives aligned with the sustainable development goals (SDGs) of OECD member states.

OECD meeting closes with key input from Vietnam's Ministry of Finance

Vietnamese Minister of Finance Nguyen Van Thang met with OECD Secretary General Mathias Cormann

On June 3, Minister Thang emphasised that from Vietnam's perspective, green bonds are an essential instrument for mobilising resources towards sustainable projects such as renewable energy, public transportation, and environmental protection.

“The government should act as a pioneer by implementing sustainability-oriented public investments, while also creating enabling mechanisms for private sector participation through public-private partnerships,” he stated.

“To attract private investment into sustainable sectors, it is crucial to ensure a stable and transparent investment environment. Vietnam is gradually adopting sustainable financial reporting standards based on the International Financial Reporting Standards and the Global Reporting Initiative, while also building public financial oversight mechanisms to increase investor confidence,” he added.

On June 4, speaking in a breakout session, Thang highlighted Vietnam's strong digital competitiveness, ranking among the top three Southeast Asian countries in digital capabilities and e-government development, particularly in AI research and development and the advancement of several high-tech industries.

Minister of Finance Nguyen Van Thang delivered remarks at a breakout session

He informed delegates that Vietnam has adopted a groundbreaking national strategy for science, technology, innovation, and digital transformation. This strategy aims to build modern digital infrastructure and master strategic technologies such as AI, the Internet of Things, blockchain, semiconductors, and quantum technology. It also seeks to develop a digital government, digital economy, digital society, digital citizenship, digital cultural industries, and a centralised data exchange platform to support state governance from central to local levels.

“To realise these goals, we must pursue a range of solutions. Chief among them are raising awareness, shifting mindsets, and demonstrating strong political will and leadership in advancing science, technology, innovation, and national digital transformation,” he added.

To harness the benefits of digital transformation while minimising environmental impacts, the Vietnamese delegation called on the OECD to promote the development of a green digital economy. This would require policy frameworks that support carbon-neutral digital transformation and encourage the circular economy in the digital technology sector.

"E-commerce has proven to be a powerful tool in generating new livelihoods for women and holds immense potential as a means of economic empowerment. However, to fully realise this role, OECD countries should consider financial policies that enhance digital infrastructure in rural and remote areas and support digital entrepreneurship for women," proposed Thang.

On the sidelines of the meeting, the Vietnamese delegation also held bilateral meetings with the OECD secretary general, the ASEAN secretary general, and the minister of Economy and Industry of Israel to foster cooperation within the OECD framework and strengthen bilateral ties, particularly in digital transformation and global economic integration, as part of efforts to achieve the SDGs.