Vietnam expects closer cooperation with OECD

Phuc highly appreciates the OECD’s achievements during the past six decades, noting that with a mission to formulate better policies for better lives, the OECD has become the world’s leading forum for policy debate, positively contributing to improving global economic policy and economic governance.

Through its scientific approach based on practical, multidimensional, interdisciplinary data, the OECD has shared with developing countries many valuable lessons and good practices on trade - investment, environmental protection. climate change, sustainable and inclusive development, he says.

According to the Vietnamese PM, in a fast changing world, the strong development of the Fourth Industrial Revolution and its profound effects on all socio-economic areas have proved that many growth models, both at the national and corporate levels, are no longer appropriate. The COVID-19 pandemic presents an unprecedented challenge that requires global solidarity and coordination to address it.

Given the new context, Phuc expects the OECD will continue to bringing into full play its role as a research and policy consultancy organisation, promote new growth models, and uphold rule-based multilateralism, so as to formulate new rules and standards in global economic governance, especially in digital economy, digital trade and reform of the international tax system, towards realizing sustainable and inclusive development goals for all.

The Vietnamese Government leader expresses his delight at the positive development of the relations between Vietnam and the OECD over the years, and says Vietnam has set a target of becoming an upper middle income nation by 2030 and a high income nation by 2045.

To meet the target, he says Vietnam hopes to receive continued support from the OECD in order to accelerate restructuring, improve its economic competitiveness, quality of growth, and international integration, as well as to implement its sustainable development goals.