Prime Minister proposes three strategic guarantees for global poverty eradication

Prime Minister Pham Minh Chinh delivered a speech at the G20 Summit in Rio de Janeiro on November 18 (local time), proposing three strategic guarantees for global poverty eradication.

Prime Minister Pham Minh Chinh attends the G20 Summit, Rio de Janeiro, Brazil, November 18 (local time), 2024 - Photo: VGP

The Vietnamese government leader called for stronger political determination, greater resources, and more decisive actions to implement poverty alleviation and reduction programs and projects.

He stressed that poverty eradication is not only a profoundly humanitarian endeavor but also one of the most critical foundations for ensuring peace, security, and stability worldwide, and highlighted Viet Nam's achievements as a success model in this scheme.

From a war-torn and impoverished nation, heavily affected by nearly 40 years of wars and 30 years of embargoes, Viet Nam has set ambitious goals for multidimensional and inclusive poverty reduction, addressing problems in health care, education, housing, clean water, and living environments.

As a result, the Southeast Asian nation achieved the UN Millennium Development Goals a decade ahead of schedule, reducing its poverty rate from over 58 percent in the early 1990s to approximately 1.9 percent in 2024.

Viet Nam has risen into one of the world's leading agricultural exporters, particularly in rice.

Confirming Viet Nam's determination to eradicate all temporary and dilapidated houses nationwide by 2025, five years ahead of the set target, Pham shared three key lessons from Viet Nam's success in poverty reduction, namely refraining from purely economic growth at the expense of social welfare, progress, equity, and the environment; attaching special importance to food security and taking agriculture as a pillar of the economy; taking people as the center and prioritizing investment in people, and developing high-quality human resources associated with science and technology and innovation.

Building on these lessons, he proposed three strategic guarantees to drive global poverty eradication efforts.

Firstly, he emphasized that ensuring peace, stability, and development cooperation is a prerequisite for eradicating poverty and achieving inclusive growth.

According to him, the G20 Summit should take the lead in promoting peace, stability, and development cooperation; avoiding the politicization of science and technology as well as development issues, particularly in trade, agriculture, and food security.

Secondly, he underlined the necessity of ensuring a global agri-food system that is efficient, stable, adaptable, and resilient to climate change as a long-term foundation.

He called on the G20 to speed up technology transfer; provide technical assistance, concessional financing, and smart governance for developing and less-developed countries in transitioning to green and sustainable agriculture. Additionally, he urged support for securing food supply chains for low-income countries. And

Thirdly, it is necessary to ensure investment in people, with education, training, and social welfare as key priorities to build a harmonious, inclusive, and sustainable society; and place people at the center, as the subject, the goal, the driving force, and the important resource for sustainable development, Pham said. He also emphasized the need to prioritize resources and develop practical, feasible, and effective policies for hunger eradication and poverty reduction, towards "leaving no one behind".

The Prime Minister quoted the late President Ho Chi Minh's adage "Solidarity is invincible" and affirmed that Viet Nam pledges to uphold multilateralism, maintain the close international solidarity, and actively contribute to global efforts to eliminate hunger and achieve sustainable development.

Pham emphasized Viet Nam's readiness to share its experience and collaborate with G20 nations and international organizations in implementing South-South and trilateral programs to ensure food security and combat global poverty. His address received widespread support and appreciation from attending nations.

This year's G20 Summit marks the largest-ever gathering, with the participation from 21 G20 members, 19 invited countries, and 15 key international organizations.

Discussions centered on eradicating poverty, promoting inclusive development, and enhancing financial support for low-income countries to implement effective poverty reduction and sustainable development projects. Leaders also explored ways to help developing nations capitalize on opportunities in digital, green, and smart development sectors.

The summit highlighted the need to address global inequalities, including gender and racial disparities, and to support vulnerable communities in narrowing wealth gaps. Leaders underscored the importance of reforming global institutions to tackle current challenges through multilateral solutions.

On November 18 afternoon, Prime Minister Pham attended a session on "Reforming Global Governance Institutions", aligning with Brazil's call for action during its G20 Presidency.

Viet Nam, as a proactive developing nation, has voiced strong support for creating more equitable and effective global governance mechanisms.

The 2024 G20 Summit continues on November 19, focusing on sustainable development and energy transition. Prime Minister Pham is set to deliver remarks during this key session/VNA.