CMSC Deputy Chairman Ho Sy Hung works with SDIP
CMSC On September 18, Ho Sy Hung, Deputy Chairman of the Commission for the Management of State Capital at Enterprises (CMSC) had a meeting with the delegation of the Sustainable Development Investment Partnership (SDIP) led by Donald Kanak, Co-Chair of the Steering Committee of the SDIP ASEAN Hub.
Donald Kanak said that the SDIP debuted in the UN Conference on Financing for Development in Ethiopia’s Addis Ababa in July 2015. SDIP’s secretariat is housed at the World Economic Forum (WEF) and the Organization for Economic Cooperation and Development (OECD). It is a joint organization of public and private agencies, multilateral development banks, investment funds and financial institutions, with the goal of expanding sustainable investment in developing countries by improving investment conditions and ensuring more efficient use of public funds to support the Sustainable Development Goals (SDGs).
|Donald Kanak, Co-Chair of the Steering Committee of the SDIP ASEAN Hub|
The SDIP aims at major goals, including addressing financial challenges in emerging markets and applying public-private financial resources to invest in projects in the world to narrow the financial gap. According to Donald Kanak, SDIP’s strength is to take advantage of breakthrough ideas together with WEF and OECD’s network of relationships to attract private sector participation across the entire blended finance value chain. Participants in the SDIP are the world’s leading financial institutions, such as the Asian Development Bank, African Development Bank, and banks of European countries.
In Southeast Asia, the SDIP focuses on improving capacity of countries to develop financial mobilization capabilities, seeking policies and regulations to help improve the investment environment, and proposing potential solutions.
|CMSC Deputy Chairman Ho Sy Hung|
CMSC Deputy Chairman Ho Sy Hung highly appreciated the ideas and efforts that the SDIP has implemented around the world as well as in Southeast Asia. He affirmed that the CMSC supports initiatives and actions for sustainable development and environmental protection in the context of climate change. The CMSC is also carrying out some of the government-assigned tasks related to the issue. When conducting investment and business activities of state-owned enterprises directly under the CMSC in such fields as infrastructure, energy and agriculture, the commission always attaches great importance to environmental impact assessment.
According to Ho Sy Hung, although in charge of state-owned enterprises, the CMSC still attaches great importance to the role of the private sector. In the process of setting the development orientation, state-owned enterprises always play a key and leading role. However, opportunities are provided for private companies to participate together.
Vietnam has always driven towards harmonious combination between capital flows of state-owned enterprises and private companies. However, methods remain limited and need to be diversified and flexible according to the market mechanism. Experience of foreign countries and the SDIP will support Vietnam on how to make good use of private capital flows, Ho Sy Hung said.