Prime Minister Pham Minh Chinh addresses the G20 Summit – Photo: VGP
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On the morning of November 22nd, in Johannesburg, the President of South Africa and Chair of the G20 for 2025 presided over the welcoming ceremony for heads of delegations and the opening of the G20 Summit. The event brought together leaders from member countries, 20 guest nations, and representatives from 21 international and regional organizations. This marks the first G20 Summit held in Africa, signifying that all members have now taken turns chairing the mechanism.
During the first day of the summit, Prime Minister Pham Minh Chinh participated in two key discussion sessions on sustainable and inclusive development, as well as enhancing global resilience. Leaders agreed on several major directions regarding growth, trade, the financial system, debt management, food security, disaster risk reduction, and climate change response.
Global Economic Challenges and Policy Coordination
Leaders acknowledged that the global economy faces numerous uncertainties, including macroeconomic imbalances, rising trade protectionism, escalating public debt, and restricted access to capital. Ongoing geopolitical tensions further narrow the development space for nations, particularly developing and underdeveloped economies.
In this context, the G20 emphasized the importance of coordinating fiscal, monetary, and trade policies to enhance macroeconomic stability, bolster market confidence, promote regional connectivity, and mobilize resources for development investment. Leaders reaffirmed that international trade is a key driver of growth, supporting WTO reforms and facilitating greater participation of small and medium-sized enterprises in global value chains. The summit also agreed to advance reforms of the international financial system, improve debt transparency, and strengthen the role of multilateral development banks.
The G20 called for enhanced global cooperation in disaster risk management, early warning systems, and the development of high-quality infrastructure to ensure water, food, and health security. Countries committed to mobilizing resources for green energy transitions and sustainable agriculture, given the increasing impact of natural disasters and climate change on livelihoods and economies.
Prime Minister Pham Minh Chinh: Three Strategic Assurances
Addressing the summit, Prime Minister Pham Minh Chinh observed that the world is undergoing profound and unprecedented changes, requiring global governance to prioritize peace, stability, and inclusive development, based on dialogue and respect for international law.
The Prime Minister proposed three strategic assurances. First, strengthening stability in international relations and global macroeconomic stability, with the G20 leading efforts to establish cooperative mechanisms, resolve conflicts, and minimize supply chain fragmentation. He urged the promotion of debt conversion initiatives, prevention of systemic risks, and the creation of an enabling environment for development.
The second assurance is maintaining a rules-based multilateral trading system, with the WTO at its core, alongside a transparent and equitable global financial system that ensures equal access to technology and resources for development. The Prime Minister called for avoiding the politicization of science and trade while increasing support for developing countries.
The third assurance is developing a flexible and effective global governance system, fostering an ecosystem conducive to digital and green transitions. He emphasized the need for enhanced cooperation in artificial intelligence, climate action, disaster management, and public health, ensuring a balance of interests among economies and between present and future generations.
Concluding his speech, the Prime Minister affirmed Vietnam’s readiness to cooperate on an equal and mutually beneficial basis with the G20 and the international community for peace, prosperity, and the goal of “leaving no one behind”. Vietnam’s perspectives and proposals received widespread acclaim and support from participating nations.
– 21:03 22/11/2025
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