The Leaders of FOSCO attending the 21st National Conference on Foreign Affairs

Responding to the invitation from the Department of Foreign Affairs Provincial, the delegation of Leaders from the Service Company to Foreign Mission (FOSCO) led by Mdm. Le Thi Hong Hau, Secretary of the Communist Party Committee, Chairwoman of the Board of Member, attended the Session on Provincial Foreign Affairs with the theme of “Augmenting the high-quality investment with the target of developing green economy and sustainable development at the local level.”
In the session’s opening remarks, Deputy Minister of Foreign Affairs Nguyen Minh Hang affirmed that this is a “special session” with the participation of Ambassadors, Head of Vietnamese Diplomatic missions abroad as well as Ambassadors and Head of Missions from the nations of the world to Vietnam, leaders of 63 provinces and municipals, domestic and international business associations. With such a multi-faceted perspective, the Deputy Minister expressed her hope that the Conference will serve as an opportunity for the provinces and localities to connect directly and conduct exchanges woth the Embassies and thus opening up new cooperative opportunity for the near future.
As stated by Deputy Minister Nguyen Minh Hang, Vietnam is witnessing the changing trends and profound shifts in international situations, some of which are having considerable effects upon the flow of investment and cooperation between nations such as the downturn of global investment in the face of an increasingly unstable global environment, in conjunction with vigorous shift in investment direction; an emphasis on sustainable development, green investment is promoted but has yet to address the exisiting conditions. In the face of green economic shift becoming an irreversible trend, the nations of the world have put forward a multitude of ideas seeking to consolidate green production and supply chains, demanding a great many input of investment to developing nations to adapt to these new standards.
With the global investment situation being such a mix of opportunity and challenges, Mdm. Deputy Minister stated that South East Asia has continued to be a brightspot in terms of FDI attraction in 2022 with a 5% increased in aggregated funds (to the amount of 220 billion USD). For Vietnam, foreign investment is a crucial part of the Vietnamese economy, constantly being promoted, encouraged and facilitated to integrate into the long term developmental conditions in an equitable competitive environment.
After the opening remarks, Mr. Shantanu Chkraborty, National Director of the Asian Development Bank in Vietnam (ADB) has presented on the topic of “The developmental trend in green finance: Opportunity and Challenges for Vietnam”. Praising the participation of interntional representatives at the event, Mr. Chkraborty remarked that this is evident that Vietnam is an attractive FDI target despite the exisiting difficulties, with a healthy FDI developmental index yet still have much to do to further bolster its FDI competitiveness.
According to the Director of ADB Vietnam, the country needs to join more cooperative programs to enact its green develomental strategy and 0 net emission goals by 1050 as committed to at COP26 2021. He pointed out a number of opportunity for green investment in Vietnam: to gain access to funding and develop key infrastructural projects to work towards a 0 net emission in 2050; the development of green industries will help create new avenues of growth in the direction of sustainable development, thus bolstering Vietnam’s chance of acquiring FDI; the shift towards green economy, especially in boosting green investment, will help Vietnam response to the challenges posed by climate change.
 “Realizing green economic targets: from experienced to application” is the topic of the presentation by Mr. Torben Minko, Deputy Chairman of the European Chamber of Commerce (EuroCham), emphasizing the wish to continue providing assistance and support for the growth of the Euro-Vietnam economic cooperation through numerous green joint apparatus seeking to guarantee a comprehensive and sustainable growth of Vietnam.
With Mr. Nguyen Hoa Cuong – Deputy Director of the Central Institute of Economic Management as moderator, the subsequent discussion session between delegates brought up much interesting and helpful information from Mr. Tran Quoc Nam – Chairman of the Ninh Thuan Provincial People’s Committee, Mr. Pham Duc Toan – Standing Deputy Chairman of the Dien Bien Provincial People’s Committee, Mr. Nguyen Hoang Long - Vietnam’s Ambassador to the United Kingdom, Mr. Choi Young-sam – South Korea’s Ambassador to Vietnam, Mr. Sandeep Arya – India’s Ambassador to Vietnam, Mr. Greg Testerman – Chairman of the American Business Chamber in Vietnam and Mr. Marko Walde – Chief Representative of the German Chamber of Industry  and Trade in Vietnam.
This is the first time FOSCO has the honor of attending the Conference. As a specialized enterprise providing service for international organizations and individuals, FOSCO will learn from the experience and conduct its own research into fostering policies to meet the demands for service form its customers to the new standard of green development issued by the city and Central government. This is an important step forward in the process of development and carrying out the political assignment in this new era.
Quoc Huy (Trans)

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