Vietnam’s SOVICO Group has become a strategic partnership of the United Nations (UN) after the two sides signed a Memorandum of Understanding (MoU) in Hanoi on September 23.

Chairwoman and CEO of SOVICO Group Nguyen Thi Phuong Thao (R) and
UN Resident Coordinator in Vietnam Kamal Malhotra (Photo courtesy of Vietjet Air)

 The signatories were UN Resident Coordinator in Vietnam Kamal Malhotra and Chairwoman and CEO of SOVICO Group Nguyen Thi Phuong Thao.

 This partnership between SOVICO Group and the UN marks the first strategic cooperation of a Vietnamese corporation with the UN in support of the Sustainable Development Goals.

 Noting that both parties share common interests in promoting youth engagement, green growth and the protection and promotion of natural and cultural heritage in Vietnam, the MoU establishes a long-term framework for action, and calls on the parties to work together to broaden this partnership with other like-minded Vietnamese businesses.

 As the first step, SOVICO Group will collaborate with UNESCO, UNIDO and UN-Habitat to support Hanoi’s development as a UNESCO Creative City through the preservation and restoration of cultural heritage, revitalisation of craft villages and support for creative hubs to nurture the young creative talent of Hanoi.

Guided by the values of sustainability and respect for local culture, this partnership envisions the development of Hanoi as a “Creative Capita” whose development builds on its creative past and the energy of its youth.

 Speaking to the gathering of interested government ministries, city officials and international partners, Thao stressed that This partnership with the United Nations to support Hanoi’s cultural heritage and development demonstrates the continued commitment of SOVICO, with Vietjet, HDBank, Phu Long, the joint venture of Bac An Khanh and its affiliates to support the long-term development of Vietnam by supporting youth leadership to make a meaningful contribution to social, cultural and economic development in the country.

“We also expect our cooperation with the United Nations through UNESCO technical assistance will help establish a SOVICO Fund for Vietnam’s Heritage & Innovation to support even more initiatives and solutions for cultural and green city development, artistic and design activities, as well as creative hubs to nurture creative talents, promoting entrepreneurship and innovation," she said.

 Kamal Malhotra shared, "With this new partnership, SOVICO Group are demonstrating their commitment to sustainable development in Vietnam  and to the principles and values of the United Nations. We salute them for being pioneers among Vietnamese corporations, and welcome them as partners. We hope that SOVICO’s example will inspire other Vietnamese private sector companies to take the necessary actions that will realise a sustainable future for Vietnam."

 The event was attended by senior government representatives and development partners who signaled their strong support to this innovative public-private partnership and their hope for new initiatives that unite the private sector, development partners and government to support sustainable development and help Vietnam realise its objectives in the Decade of Action for the SDGs.