The Deputy Prime Minister made the call while addressing the plenary session of the Fourth International Conference on Financing for Development (FfD4) in Seville, Spain, on July 1, 2025.
He highlighted the rise of non-traditional challenges, increasing geopolitical tensions and armed conflicts that threaten global cooperation. He urged nations to act with unity, resolve disputes peacefully, and uphold international law and the United Nations Charter.
The Vietnamese Deputy Prime Minister proposed three key measures, including accelerating reforms of global financial governance institutions, especially multilateral development banks, to meet development finance needs; promoting international cooperation and knowledge-sharing in science, innovation, and digital transformation; and mobilising resources for emerging sectors like the green transition, innovation, digital transformation, and circular economy, prioritising support for developing nations.
At a high-level roundtable chaired by Nepal’s Prime Minister, with the participation of leaders of Poland, Colombia, Tuvalu, Guinea, Spain, and over 20 ministers, Deputy Prime Minister Phoc presented five recommendations in response to declining ODA and concessional financing.
Deputy PM Ho Duc Phoc attends FfD4, calling for joint efforts to promote multilateralism
At a high-level roundtable, Deputy Prime Minister Phoc presented five recommendations in response to declining ODA and concessional financing. (Photo: VNA)
He suggested reforming international cooperation frameworks beyond poverty reduction to support sustainable economic restructuring; promoting equity and inclusiveness in the global financial system; improving coordination among governments, development partners, and the private sector; prioritising support for vulnerable countries, including LDCs and climate-affected nations; and advancing knowledge exchange and South–South/trilateral cooperation through technology transfer and expert support.
Within the conference’s framework, the Deputy Prime Minister had a meeting with Tanzanian Vice President Philip Isdor Mpango, during which the two sides reaffirmed their hope to bolster bilateral cooperation across various sectors through all channels. Tanzania welcomed more Vietnamese investments, particularly in agriculture, construction, and cashew processing, and praised Viettel’s local success.
At a roundtable with businesses in Seville, Deputy Prime Minister Phoc highlighted Vietnam’s goal of 8% GDP growth for 2025 and double-digit growth by 2030. He stressed reforms in infrastructure, digital transformation, science and technology, and private sector development.
During his stay in Seville, Deputy Prime Minister Phoc had a meeting with President of the Regional Government of Andalusia Juanma Moreno, congratulating Seville and Andalusia for successfully hosting FfD4, thus contributing to raising the international role and position of the city in particular and the region in general. Phoc proposed enhanced cooperation in high-tech agriculture, food processing, renewable energy, and innovation. He advocated for stronger Hanoi–Andalusia ties and direct air connectivity. Moreno welcomed greater economic and cultural engagement and the promotion of Vietnamese products in Spain.
At a meeting with Spanish Minister of Economy, Trade and Business Carlos Cuerpo Caballero, Deputy Prime Minister Phoc praised Spain’s role as FfD4 host and reaffirmed Vietnam’s commitment to global development. Minister Caballero expressed interest in expanding trade and investment cooperation and recalled the success of PM Sánchez’s April visit to Vietnam.
Both sides pledged to coordinate on the first session of the Vietnam–Spain Joint Economic Committee and discussed early ratification of the EVIPA. They also called on the EU to lift the “yellow card” on Vietnamese seafood.
The Deputy Prime Minister also a meeting with Australian Minister for Small Business Anne Aly, during which the two sides shared their delight at the growth of Vietnam–Australia relations over the past 50 years and the recent upgrade to a comprehensive strategic partnership. They spoke highly of collaboration and coordination between the two countries at mulilateral forums, including supporting each other's candidacies for positions in the UN. Australia highly values the role of Vietnam in ensuring peace, stability, cooperation and development in the region.
Source: WVR
