(VOVWORLD) - Cooperation between Vietnam and the Organization for Economic Cooperation and Development (OECD) has developed strongly and practically. Vietnam has proposed initiatives to promote the OECD's Southeast Asia Program, thereby improving the quality of regional economic model reform.
 Deputy Prime Minister Tran Luu Quang (first row, 8th from right) and delegates attending the OECD-Southeast Asia Ministerial Forum in Hanoi, October 26, 2023. (Photo: VNA) |
The OECD, which was established in 1961, has 38 member countries, including most of the world's leading developed economies. It’s a leading organization in research and socio-economic policy consultancy for governments, connecting and promoting the building of global governance mechanisms for finance, tax, and green growth. Cooperation between Vietnam and the OECD has developed strongly over the past decade and has gained substantive results that have benefitted Vietnam and the Southeast Asia region.
Cooperation becomes more effective
Vietnam became a member of the OECD Development Center in 2008. Since 2012 Vietnam has built a bilateral cooperation plan with the OECD for each period (2012-2015, 2016-2020, and 2021-2025).
Sticking to committed direction and cooperation frameworks, Vietnam and the OECD have coordinated in researching and compiling 10 reports in various fields.
In the 2019-2020 period, the Ministry of Foreign Affairs and the Ministry of Planning and Investment worked with the OECD to develop the report "Vietnam's Multidimensional Assessment". This was a valuable reference document for developing the draft Socio-Economic Development Strategy from 2021 to 2030 and Socio-Economic Development Plan from 2021 to 2025.
In January 2019, Vietnam and the OECD began developing a national program that includes 8-10 cooperation projects to be implemented between 2020 and 2023. The national program is a higher level of OECD cooperation with a non-member country, covering policy recommendations and consultancy as well as support for policy implementation.
 OECD Secretary-General Mathias Cormann (Photo: VNA) |
At the OECD-Southeast Asia Ministerial Forum held in Hanoi this week, OECD Secretary-General Mathias Cormann mentioned Vietnam as a typical example of the increasingly specialized and quality cooperation between the OECD and individual countries.
Cormann said that the OECD Due Diligence Guidance for Responsible Supply Chains in the Garment and Footwear Sector of Vietnam has met clear expectations and ensure respect for sustainable development of the environment and society.”
Contributions to OECD-ASEAN cooperation
Bilateral cooperation between the OCED and Vietnam has contributed more to OCEC’s cooperation with ASEAN. Since 2014, when the OECD introduced the Southeast Asia Regional Program (SEARP) to support the economic reform of regional countries, Vietnam has always been an active member.
In recent years, Vietnam has organized a series of important policy dialogue events between the OECD and ASEAN, such as the forum "Enhancing productivity associated with inclusive development in Southeast Asia" in 2016, the OECD-Southeast Asia Ministerial Forum in 2022 and this year’s OECD-Southeast Asia Ministerial Forum on sustainable high-quality investment.
Vietnam is currently co-chairing SEARP with Australia for the 2022-2025 term. At the OECD-Southeast Asia Ministerial Forum that opened on Thursday in Hanoi, Deputy Prime Minister Tran Luu Quang proposed a direction for promoting OECD-ASEAN investment.
“First, protect the legitimate rights and interests of investors. Second, help businesses overcome difficulties. Third, create an equal, transparent, healthy, and sustainable production and business environment and ecosystem. We believe these things will create a strong foundation for high-quality investment cooperation between Vietnam and OECD and other ASEAN countries," said Mr. Quang.
Vietnam's impressive economic achievements and initiatives are acknowledged by the OECD. Secretary-General Cormann said Vietnam’s economy is a bright spot in the gloomy global economy. In a report prepared for the OECD-Vietnam Investment Forum, held on Friday in Hanoi, the OECD said Vietnam is moving in a positive direction to meet high investment standards set by the OECD in its "Declaration on international investment and transnational companies", a document well-regarded by international investors.
The OECD said that Vietnam, one of the most consistently reforming countries, has made significant progress in ensuring a transparent investment environment and responsible business conduct. These factors boost Vietnam’s role in regional reform.