PM Pham Minh Chinh speaks at the plenary session of the annual meeting of the New Champions of the World Economic Forum (WEF) in Dalian, China, on June 25. (Photo: VNA)
Chinh stressed the need to effectively address regional and global issues based on principles of laws and ensure the harmonious interests of all parties involved, not politicalising and discriminating global science, technology, and innovation.Viet Nam suggests that the WEF, its partners, and the business community enhance their roles in offering guidance, providing support, and advocating public-private partnerships while also taking the lead in guiding the development, he said, adding that developed countries need to support, assist and collaborate with poor, developing countries, in the areas of strengthening and refining institutions of market economy, providing support and assistance in resources for the development of strategic infrastructure systems, and transferring advanced technologies and support for the training and development of human capital, particularly in high-quality human resources.
The Vietnamese Government leader also suggested that international cooperation in making, planning and implementing policies at the global level be enhanced. He emphasised the need to strengthen cooperation for growth, coordinate more closely in management of dynamic, proactive, flexible, timely and effective monetary policy combined with the cautiously open fiscal policy, with public investment leading the private investment. Trade and investment liberalisation should also be bolstered to stimulate short term total demand while also impacting positively the total supply in the long term.
“There is a Chinese proverb that says, “A single tree does not make a forest.” Let us uphold the spirit of solidarity, cooperation, resolve, and responsibility and remain perseverant and resilient. Every nation, enterprise, and individual should unite in pursuit of the next frontiers for growth, prosperous development of the world, and a happier and better life for all people,” stated Chinh.
Sharing Viet Nam’s story, the Prime Minister said that its success over the past nearly four decades is attributed to the key terms: Reform, Innovation and Integration. From a 30 year war-torn, embargoed country, Viet Nam currently stands among the world's top 40 economies and ranks as one of the top 20 trade and investment partners globally.
With 16 free trade agreements (FTAs), and diplomatic relations with 193 countries, Viet Nam's economy surged to 430 billion USD in 2023, with GDP per capita reaching 4,300 USD and foreign investments registering a record 36.6 billion USD. In 2024, the first quarter saw a growth of 5.66%, with the second quarter expected to surpass this and maintain a more positive trend in the latter half of the year, he shared.
These achievements underscore the effectiveness of Viet Nam’s development strategies and policies under the leadership of the Communist Party and the State, which are grounded in three key pillars of building a socialist-oriented democracy, building a socialist rule of law state, and developing a socialist-oriented market economy, said Chinh.
The PM went on to say that as close neighbours bound by shared mountains and rivers, Viet Nam and China are currently working together to build a "Community with a Shared Future." Viet Nam is pleased to witness China's strong development and rise amidst difficult and challenging regional and world situation.
“We are confident that China will continue to play a crucial role in the global economy, particularly in advancing digital, green transformations, circular economy and bolstering international economic integration and cooperation. A strong, self-reliant Chinese economy will have positive impacts on the world as it deepens its global integration,” he added.
This is the third consecutive time WEF has invited PM Chinh to attend its annual meeting, which not only demonstrates WEF's high regard for Viet Nam but also its appreciation for the country's contributions to discussions on global issues as well as its inspirational stories about innovation, integration and development.
On the same day, PM Chinh attended and delivered a speech at the Informal Gathering of World Economic Leaders (IGWEL) on cooperation towards economic growth.
To boost cooperation towards economic growth, he emphasised five priority solutions, including building and innovating the global economic governance system towards efficiency, transparency, and inclusion; building a framework for macro policy coordination; promoting trade and investment liberalisation; enhancing cooperation in mobilising resources for development; and focusing on boosting new growth drivers.
Prime Minister Pham Minh Chinh emphasised Viet Nam’s policy on promoting innovation-driven economic growth while attending a dialogue with the World Economic Forum (WEF)’s startup and innovator community as part of the WEF’s Annual Meeting of the New Champions 2024 in Dalian city, China, on June 25.
Talking with the press, Minister of Foreign Affairs Bui Thanh Son highlighted the trip's significance in implementing Vietnam's foreign policy as outlined at the 13th National Party Congress and Directive 25 on elevating multilateral diplomacy issued by the Party Central Committee’s Secretariat. It also served to realise the high-level common perceptions reached by Vietnamese and Chinese leaders in the spirit of comprehensive strategic cooperative partnership and building the Vietnam-China Community with a Shared Future that carries strategic significance.
He stressed that PM Chinh, as one of only two invited heads of state/government, played a key role at the WEF meeting. He and the Vietnamese delegation delivered impactful messages and joined discussions and meetings with various partners.
The PM's keynote address resonated with an audience of 1,700 guests from 80 countries. He shared Vietnam's inspiring story of Doi Moi (renewal), integration and development, solidifying Vietnam's role and position on the international stage.
Advocating global cooperation to build trust, prioritise dialogue and adopt new approaches, he stressed the importance of promoting science and innovation to create new engines of growth, urging collaboration in policy frameworks, resource utilisation, and future workforce development.
Through open, sincere and insightful discussions with partners and businesses, the PM showcased Vietnam's commitment to innovation and a pro-business environment. WEF Founder Klaus Schwab commended Vietnam's dynamic economy which he said is a regional growth leader.
During talks and meetings with Chinese leaders, PM Chinh reiterated the importance of strengthening and developing friendly cooperation with China as an objective requirement, a strategic choice and a top priority in Vietnam's foreign policy of independence, self-reliance, peace, cooperation and development, diversification and multilateralisation of external ties.
The host leaders reciprocated the sentiment, saying that they attach importance to relationship with Vietnam, considering it a priority in China's overall neighbouring diplomacy policy.
Both sides agreed on directions and specific measures to intensify cooperation, while unceasingly working to solidify the strong social foundation for bilateral relations, upholding agreements and high-level shared perceptions, adhering to international law, and effectively and properly resolving disputes to prevent them from affecting the overall bilateral relations and contribute to global and regional peace and stability, concluded Foreign Minister Son./.
Source: VNA
