Vietnam, France step up financial cooperation
At the event, Hung said the Vietnamese Ministry of Finance (MoF) highly evaluated the French ministry’s role in providing the French Government’s official development assistance (ODA) for Vietnam's socio-economic development. France is now the biggest bilateral donor in Europe for Vietnam while Vietnam is the second largest recipient of French ODA capital. From 1993-2022, France committed to supplying around 18.4 billion USD in ODA loans to Vietnam through the French Treasury and the French Development Agency (AFD), with a focus on transportation (railway), water supply and drainage, climate change, energy and green growth.
Vietnamese Deputy Minister of Finance Vo Thanh Hung (R) and French Minister Delegate for Industry Roland Lescure - Photo: VNA |
Hung wished to learn from France's experience in the State budget settlement and State financial report making. He believed that the French ministry will work together with the MoF to successfully hold technical support activities for 2023-2024, and France will assist Vietnam in strengthening its capacity and gradually bringing Vietnam's public financial management closer to international practices.
Lescure, for his part, also shared major reforms that France is making, including pension reform (raising the retirement age to 64 by 2030) to ensure a more sustainable pension system for the country and to draw more people to the workforce for economic growth.
He affirmed that Hung’s visit will contribute to further reinforcing close ties between Vietnam and France.
In the afternoon of the same day, Hung paid a working trip to the headquarters of the AFD’s Expertise France.
At the meeting with Expertise France - Photo: VNA |
Receiving the Vietnamese official, AFD Director Philippe Orliange recalled the content of a meeting between the Vietnamese Finance Minister and the French Ambassador in Hanoi last November, which included a proposal related to France's support for the ministry in establishing a green budget.
Orliange pledged to assist Vietnam in the project, considering it a priority of the AFD, and believed that the project will help the ministry with its modernisation efforts to meet the goal of achieving net zero emissions by 2050.
CEO of Expertise France Jérémie Pellet said Vietnam is the only country in Southeast Asia where Expertise France has established an office.
About Vietnam's concerns over challenges in green finance initiatives such as building a carbon market, proper use of public and private funding, and enhancing the Government's action capacity, Pellet said Expertise France is ready to share France’s experience and urge the European Commission (EC) to assist Vietnam in this field, and introduce Vietnam's model to other countries in Southeast Asia.
He expressed the readiness to cooperate with Vietnam in this green finance project and hoped that it will meet the expectation of the MoF for sustainable development.
Hung believed that Expertise France, together with the MoF, will successfully hold technical support activities in 2023-2024, and help the Vietnamese side enhance the capacity of developing green finance policies, thus contributing to delivering on Vietnam's international commitments.
On the occasion, Hung and Orliange signed an agreement on enhancing the capacity of building green finance policies. Accordingly, the two sides will partner in areas such as strengthening the capacity of evaluating green tax policies, supporting the improvement of legal frameworks, improving the capacity of issuing green government bonds in the financial market, and improving research capacity in managing revenue from the carbon market.
During his visit from July 10-14, Hung is also scheduled to hold working sessions with the General Directorate of Public Finances, the French Treasury, the Finance Department of Montreuil city and lay a wreath at President Ho Chi Minh’s statue in Montreau park.
See also
Belgium workshop spotlights business opportunities in Vietnam
17:30 | 17/05/2024 Vietnam and EU
Bulgaria prioritizes high-tech cooperation with Vietnam
09:05 | 15/05/2024 Vietnam and EU
Vietnam, Bulgaria promote economic, trade cooperation
20:40 | 14/05/2024 Vietnam and EU
Vietnam, France agree to strengthen their strategic partnership
11:21 | 07/05/2024 Vietnam and EU
HCM City strengthens cooperation with German firms
08:51 | 11/04/2024 Vietnam and EU
Thai Binh boosts investment, trade cooperation with Germany
10:16 | 28/03/2024 Vietnam and EU
See more news
Dutch businessmen explore potential investment and trade opportunities in Vietnam
11:06 | 22/03/2024 Cooperation
Vietnamese, Dutch firms sign aquaculture cooperation deal
08:52 | 21/03/2024 Vietnam and EU
Vietnam, Italy see strong potential in agriculture cooperation
08:34 | 04/03/2024 Vietnam and EU
Vietnam seeks stronger cooperation with French city in different fields
08:44 | 22/02/2024 Vietnam and EU
Vietnam ready to build green transformation cooperation model with EU
10:06 | 05/02/2024 Vietnam and EU
Vietnam, Germany boost cooperation in industry, trade, energy
09:14 | 24/01/2024 Vietnam and EU
Vietnam pledges to nurture traditional ties with Hungary: PM
09:02 | 21/01/2024 Vietnam and EU
EVFTA important catalyst to textile-garment exports
06:00 | 31/12/2023 Vietnam and EU
Vietnam, EU take advantage of EVFTA
06:00 | 30/12/2023 Vietnam and EU
Ministry ready to support partnerships between Vietnamese, Belgian firms
09:18 | 02/12/2023 Vietnam and EU
Leaders pay tribute to President Ho Chi Minh to mark his 134th birthday
10:05 | 19/05/2024 News and Events
Hà Nội Metro announces profit from the Cát Linh–Hà Đông metro line
10:00 | 19/05/2024 Economy
Cement makers call for scraping of clinker export tax
09:00 | 19/05/2024 Economy
Tourism sector goes green for sustainable development
08:22 | 19/05/2024 Tourism
Digital transformation in logistics - a key to unlocking sustainable e-commerce and economic development
07:00 | 19/05/2024 Economy
Multimedia
Việt Nam plans to preserve ethnic minorities’ intangible cultures at risk of disappearing
06:00 | 15/05/2024 Lifestyle
The Hải Phòng Red Flamboyant Festival celebrated the city's special UNESCO status
16:49 | 13/05/2024 Lifestyle
HCM City: top spot in Việt Nam for slow travel lovers
09:00 | 13/05/2024 Tourism
The Anam Cam Ranh named among Vietnam’s best family hotels
06:00 | 11/05/2024 Vietnamese Brands
Nguyễn Dynasty Urns in Huế make it to the UNESCO Memory of the World List
07:00 | 11/05/2024 Lifestyle
Tax, land rent payment deadlines to be extended this year
06:00 | 19/05/2024 Policy
Ministry proposes tax filing deadline extension for 2024
06:00 | 17/05/2024 Policy
Viet Nam targets to have 2 million enterprises by 2030
07:00 | 15/05/2024 Policy
Law on Telecommunications hoped to promote development of new telecoms services
06:00 | 13/05/2024 Policy
Energy giants plan for national power plan
06:00 | 18/05/2024 Energy
Vietnam charts vision for sustainable, modern fisheries
06:00 | 16/05/2024 Industry
Vietnam should seize opportunity to join global semiconductor supply chain
08:00 | 15/05/2024 Industry
Việt Nam's wood industry strives to match sustainable wood demands
07:00 | 14/05/2024 Industry
Delegation from EU, Netherlands explore investment opportunities in Thai Nguyen
07:10 | 18/05/2024 FDI
Desk established in Dong Nai to support Japanese investors
09:02 | 16/05/2024 Investment
Vietnam should not miss opportunities to attract FDI
08:00 | 14/05/2024 FDI
New wave of Chinese investment
06:00 | 12/05/2024 FDI
Banks raise interest rates to attract depositors
16:47 | 17/05/2024 Finance-Banking
Credit access obstacles lifted for collective economic entities
06:00 | 16/05/2024 Finance-Banking
Government urged to narrow domestic, global gold price gap
08:36 | 15/05/2024 Finance-Banking
Biometric verification ensures safer money transfers
17:23 | 13/05/2024 Finance-Banking
First provincial biodiversity museum launched in Quảng Nam
06:00 | 19/05/2024 Environment
Enhancing informal sector’s role in EPR implementation
06:00 | 18/05/2024 Environment
Centre opened to serve environmental data integration, monitoring network operation
06:00 | 16/05/2024 Environment
Capacity building for policy makers, large emitters on ETS and carbon market
08:48 | 15/05/2024 Environment
Semiconductor investment prioritized
06:29 | 17/05/2024 Science - Technology
Full cyber stream ahead Bắc Giang focuses on digital society development
06:00 | 11/05/2024 Science - Technology
35 localities piloting four-wheel EVs for tourists, despite no official legal regulations
07:00 | 09/05/2024 Science - Technology
2024 VinFuture Prize records 1,469 nominations
06:00 | 07/05/2024 Science - Technology
HCM City to complete 183km of metro routes by 2035
06:00 | 17/05/2024 Society
Railway sector gets creative to attract passengers
07:00 | 15/05/2024 Society
Việt Nam’s largest high-speed ship service from HCM City to Côn Đảo launched
07:00 | 14/05/2024 Society
Central Highlands to become renewable energy hub
08:58 | 13/05/2024 Society
Vietnamese agricultural products to take part in Foodservice Australia 2024
15:08 | 17/05/2024 Vietnamese Brands
PV GAS launches Month of Workers
10:22 | 16/05/2024 Companies
National Brand Program promotes prestigious Vietnam
13:09 | 15/05/2024 Vietnamese Brands
Largest made-in-Vietnam bulk carrier launched
17:07 | 13/05/2024 Vietnamese Brands
Việt Nam plans to preserve ethnic minorities’ intangible cultures at risk of disappearing
06:00 | 15/05/2024 Lifestyle
The Hải Phòng Red Flamboyant Festival celebrated the city's special UNESCO status
16:49 | 13/05/2024 Lifestyle
Nguyễn Dynasty Urns in Huế make it to the UNESCO Memory of the World List
07:00 | 11/05/2024 Lifestyle
European Literary Days focuses on gender
06:00 | 09/05/2024 Lifestyle
Tourism sector goes green for sustainable development
08:22 | 19/05/2024 Tourism
Vietnamese tourism information centre opened in India
08:00 | 18/05/2024 Tourism
Mysterious 'floating' lake discovered in Quảng Bình
16:54 | 13/05/2024 Tourism
HCM City: top spot in Việt Nam for slow travel lovers
09:00 | 13/05/2024 Tourism