Deputy Prime Minister Ho Duc Phoc attended the first Hamburg Sustainability Conference (HSC) in Germany from October 7-8, and held bilateral working sessions there.

Deputy Prime Minister Ho Duc Phoc attended the first Hamburg Sustainability Conference (HSC) in Germany from October 7-8, and held bilateral working sessions there.

The Deputy PM had meetings with senior officials of Germany, representatives of the Climate Investment Funds (CIF), the Green Climate Fund (GCF), and the German Asia-Pacific Business Association (OAV) to discuss key issues concerning climate change response, energy transition, and investment attraction.

Meeting with Federal Minister for Economic Cooperation and Development Svenja Schulze, Phoc affirmed that Vietnam always attaches importance to developing its strategic partnership with Germany.

The Vietnam visits by German Chancellor Olaf Scholz in November 2022 and President Frank-Walter Steinmeier in January 2024 have created new momentum for the bilateral relations, particularly in the pillars of trade and investment, helping Germany maintain its position as Vietnam's leading trade partner in Europe, he said.

Phoc suggested the German side continue its official development assistance (ODA) to Vietnam in climate change response, particularly in the Mekong Delta, and assisting the Southeast Asian country in accessing funding for the Just Energy Transition Partnership (JETP).

Schulze appreciated Vietnam's proactive and active participation at the HSC, noting the country is highly aware of the current global challenges to sustainable development and it has joined international efforts in combating climate change and seeking solutions to accelerate the realisation of the sustainable development goals (SDGs).

Cooperation with Vietnam is truly important to Germany, particularly in implementing projects within the framework of the JETP and bilateral cooperation, she stated.

In the meeting with Phoc, the CIF’s and GCF’s representatives acknowledged and highly valued the Vietnamese Government's climate commitments and efforts, affirming their support to the country in accessing financial resources.

Meanwhile, Phoc reaffirmed Vietnam's commitment to achieving net-zero emissions by 2050 and called for financial assistance to realisse the SDGs. He took the occassion to invite the funds' representatives to the 4th Partnering for Green Growth and the Global Goals 2030 (P4G) Summit in Hanoi in 2025.

Meeting with OAV representatives, Phoc urged businesses from the two countries to optimise the EU – Vietnam Free Trade Agreement (EVFTA) to boost trade and investment ties, and suggested the parties consider expanding cooperation areas that align with their complementary strengths and demands.

Vietnam is committed to creating the most favourable conditions for European businesses to operate in the country, he stressed, calling on German companies to increase investment in the country in the areas of manufacturing, basic infrastructure, renewable energy, semiconductors, automation, artificial intelligence, and green hydrogen production.

German corporations and businesses applauded Vietnam's socio-economic achievements and comprehensive international integration in recent years, as well as its commitment to pursuing efficient and sustainable economic development goals, reducing emissions, and protecting the environment. They also showed interest in the Vietnamese market.

Gathering approximately 1,600 delegates from 102 countries, the HSC focused on seeking solutions to challenges during the implementation of the SDGs./.