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Official Gazette

Tuesday, May 30, 2023

PM Chinh addresses G7 expanded Summit’s 2nd session

Updated: 14:24’ - 21/05/2023
>>PM delivers message at G7 expanded Summit’s first plenary session

Prime Minister Pham Minh Chinh on May 20 emphasized the importance of a global approach, multilateralism, self-reliance of every country, and extensive international cooperation to realize sustainable development, climate change responses, emission reduction, and energy transition.

Prime Minister Pham Minh Chinh at the G7 expanded Summit’s 2nd session in Hiroshima, Japan__Photo:VNA

Attending the second session of the expanded Summit of the Group of Seven (G7) in Hiroshima, Japan, he raised Vietnam’s point of view on ensuring fairness and reasonableness, taking into account the different conditions and levels between countries; ensuring a strategic balance between clean energy transition and global energy security; and developing fair, diversified, highly practical energy transition roadmaps in line with market rules.
Chinh emphasized that human resources, science, technology, and innovation are the central driving force for the sustainable development of all countries, the key to solving the issue of ensuring both rapid and sustainable growth.
He proposed G7 countries and international organizations to strengthen support for developing countries in technology transfer, capacity building in institutions, infrastructure, human resources, governance methods, and building an ecosystem for clean energy development.
PM Chinh said that the effective mobilization and use of resources is the key factor for sustainable development. G7 countries should prioritize the timely and effective implementation of financial commitments for development, meeting the urgent requirements of debt relief, relaxation, and restructuring for poor countries.
The Vietnamese PM suggested that it is necessary to take a creative approach to mobilizing diverse financial sources, focusing on public-private partnership (PPP), mixed-finance associated with the participation of the private sector, and foreign investment.
As for Vietnam, he affirmed the country’s determination to achieve the goal of bringing net emissions to zero by 2050 even though Vietnam is still a developing country in transition and experiencing difficulties due to wars.
PM Chinh emphasized his support for Japan's initiative - Asia Zero Emission Community (AZEC) and suggested that G7 countries and partners continue to accompany Vietnam in implementing the agreement on Just Energy Transition Partnership (JETP); and contribute to help Vietnam promote its potential and advantages, become a regional renewable energy center, deeply participate in supporting industrial production chains in clean energy and circular economy.
He also announced Vietnam’s National Power Development Plan for the period 2021-2030 with a vision to 2050, with priority to renewable energy development.
Chinh said he hopes Vietnam will continue to receive support and effective cooperation in the management and sustainable use of water resources, improving capacity to respond to climate change and sea level rise, especially in its Mekong Delta, as well as supporting the sustainable development of the Mekong Sub-region.
At the meeting, many leaders agreed with Vietnam on the importance of international solidarity and cooperation in responding to global challenges, emphasizing the need to quickly make up the shortfall in finance for climate change adaptation. They also supported Vietnam's view on balancing the implementation of the net zero emissions target with ensuring energy security.
Many countries emphasize that the energy transition can be carried out with many different routes, suitable to the circumstances and conditions of each country. G7 countries affirmed their determination to implement new initiatives such as JETP, Green Climate Fund, and Global Infrastructure and Investment Partnership (PGII).
Developing countries proposed to promote cooperation in technology transfer, concessional financing, technical assistance, and implementation of the commitment of USD 100 billion for climate finance of developed countries.
Many countries also suggested promoting diversification of the supply chain, ensuring the supply of essentials for clean energy development.
Within the framework of the session, PM Chinh attended the event on the PGII Initiative – an important initiative of the G7 group in promoting high-quality infrastructure investment in developing countries through the public finance mobilization and the public-private partnership.- (VNA/VLLF)

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