Brian Jeffrey
Prime Minister’s Commitments at G20 Summit
During Prime Minister Pham Minh Chinh’s recent visits to Brazil and the Dominican Republic, he conveyed important messages at the G20 Summit. He emphasized Vietnam’s vision, dedication, and readiness to address global issues, with a focus on combating poverty, promoting sustainable development, and facilitating energy transitions.
To delve deeper into this topic, VIetNamNet spoke with Vu Thi Quynh Hoa, the Oxfam Country Director in Vietnam.
A New Alliance Against Poverty
The establishment of the “Global Alliance to End Poverty” at the G20 Summit marks a pivotal moment, showcasing nations’ renewed efforts to tackle the complex issues of poverty, hunger, and inequality in our modern era.
While past achievements in reducing poverty have been commendable, emerging challenges from climate change, digital shifts, and rising income disparities necessitate innovative and comprehensive strategies.
Oxfam acknowledges Vietnam’s founding role in this alliance, highlighting its recognized efforts and accomplishments in reducing poverty and inequality on a global scale.
The country’s strategies and experiences in poverty alleviation can serve as vital lessons for other developing nations.
Vietnam’s Successful Strategies
Oxfam appreciates the significant commitments and effectiveness of Vietnam’s policies aimed at poverty and inequality reduction. With progressive socio-economic strategies, support from the international community, and strong governmental leadership, Vietnam has established itself as a successful model in these areas.
Chinh’s assertions at the G20 Summit, reiterating that Vietnam prioritizes social equity and environmental sustainability over mere economic growth, encapsulate four decades of lessons learned in poverty reduction.
Vietnam’s impressive growth trajectory includes an average GDP growth of 7% over thirty years, with per capita income soaring six-fold since 1986, reaching $4,500 by 2023, and the poverty rate decreasing from over 58% in the early ’90s to an estimated 1.9% by 2024.
This success is attributed not just to economic progress but also to a dedicated focus on improving education, healthcare, infrastructure, and supporting vulnerable populations and disadvantaged regions.
Holistic Legal Framework for Poverty Reduction
Vietnam has developed a robust legal system that tackles poverty comprehensively, placing significant emphasis on public investments aimed at enhancing educational and healthcare access and quality.
A key feature of Vietnam’s poverty reduction initiatives is its commitment to gender equality, ensuring that policies promote sustainable, inclusive approaches to alleviating poverty. National programs prioritize support for female-led households and ethnic minority communities impacted by poverty.
Vietnam’s Engagement in Global Cooperation
Chinh’s commitments at the G20 exemplify Vietnam’s open-door policy, showcasing its readiness to learn and actively participate in global partnerships.
Although Vietnam is not yet an official G20 member, its proactive involvement—especially within the “Global Alliance to End Poverty”—highlights its growing influence in the global economy. The international community recognizes Vietnam’s accomplishments in poverty alleviation and its promotion of inclusivity and sustainable development.
Vietnam’s willingness to share its experiences and collaborate with G20 nations and global organizations on food security and anti-poverty initiatives underscores its collective approach to tackling global challenges like climate change and inequality.
Strategic Policy Focus
Looking ahead, Vietnam could benefit from implementing two groups of policies simultaneously.
Firstly, deepening poverty reduction efforts should target disadvantaged communities and rural areas to enhance social mobility and achieve sustainable poverty alleviation. Additionally, boosting productivity and value in agriculture while adapting to climate change and participating in global value chains is essential. Embracing digital technologies and enhancing the universal social safety net will also strengthen resilience and adaptability, mitigating risks of reverting to poverty.
