THE SOCIALIST REPUBLIC OF VIET NAM
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France to help Viet Nam strengthen capacity for building green financial policies
VGP - France will help Viet Nam to strengthen capacity for building green financial policies, according to an agreement signed in Paris, France, on July 10.
Deputy Minister of Finance Vo Thanh Hung and Global Executive Director of the French Development Agency (AFD) Phillippe Orliange sign a cooperation agreement on capacity building for green financial policy, Paris, France, July 10, 2023 - Photo: VNA
The agreement was inked by Deputy Minister of Finance Vo Thanh Hung and Global Executive Director of the French Development Agency (AFD) Phillippe Orliange on the occasion of the Vietnamese Deputy Minister's working visit to France.
Accordingly, the two sides will step up collaboration in strengthening the capacity of analyzing and evaluating green tax policies, completing the legal framework as well as improving the capacity of issuing green government bonds in the financial market, and management and use of carbon market revenues.
At the meeting with the Global Executive Director of the AFD and Director-General of Expertise France, Jérérmie Pellet, Vo said that Viet Nam needs assistance from development partners and international organizations in terms of capital and knowledge.
The Vietnamese Ministry of Finance (MoF) welcomes and highly appreciates the AFD's support for Viet Nam in increasing resilience and adapting to climate change and monitoring energy efficiently.
The Global Executive Director of the AFD vowed to support Viet Nam in carrying out the green budget project, adding that the project will help speed up the modernization process for Viet Nam to soon reach its net-zero emissions target by 2050.
Meanwhile, the Director-General of Expertise France stated that the agency stands ready to share experience with Viet Nam in the green finance sector and ask the European Commission to support Viet Nam in this area.
Deputy Minister of Finance Vo Thanh Hung (R) meets French Minister Delegate for Industry Rolland Lescure, Paris, France, July 10, 2023 - Photo: VNA
At his working session with French Minister Delegate for Industry Rolland Lescure, Vo thanked France for providing ODA to Viet Nam to help spur its socio-economic development.
During 1993-2022, France committed to US$18.4 billion in ODA capital for Viet Nam, focusing on such areas as transport, water supply and drainage, climate change adaption, energy and green growth.
Vo expressed his wish that France will help Viet Nam strengthen its capacity and bring Viet Nam's public financial management step by step closer to international standards./.