Economic Diplomacy 2024: Promoting Semiconductors and High Technology

Promoting agreements with partners in new areas such as semiconductors, high technology, and innovation is identified by the Ministry of Foreign Affairs as a key solution to improve the effectiveness of economic diplomacy in 2024.

Minister of Foreign Affairs Bui Thanh Son gave a speech at the conference - Photo: DUY LINH

On the evening of February 22, in Hanoi, Foreign Minister Bui Thanh Son chaired a conference to deploy economic diplomacy in 2024 to serve socio-economic development. In the context of Vietnam having just gone through a very exciting year in foreign affairs, the conference focused on discussing solutions to further improve the effectiveness of economic diplomacy in the new year.

Three key tasks for economic diplomacy

Deputy Minister Nguyen Minh Hang, Head of the Steering Committee for Economic Diplomacy, moderated the discussion. Attending the conference in person were leaders of the Ministry of Foreign Affairs, heads of units within the ministry, and heads of Vietnamese representative agencies abroad for the 2024-2027 term. 94 Vietnamese representative agencies abroad attended online. Speaking at the conference, Foreign Minister Bui Thanh Son assessed that 2024 is a year when the world continues to be unstable in terms of security and will continue to affect the socio-economic development of countries, including Vietnam. In that context, the world economic situation is basically on the path of recovery but very slowly and unstable, unevenly between regions. For Vietnam, the socio-economic situation in January continued the positive recovery trend of the last months of 2023 and achieved important results, especially in terms of export and investment. International organizations, businesses, and foreign investors continue to positively assess and have high expectations for Vietnam's socio-economic development situation and prospects. However, the domestic economy still faces many challenges, the competitiveness and resilience of the economy are still limited, and the demand of key import and export markets is still facing many difficulties. According to Mr. Son, 2024 is identified as an important pivotal year, so economic diplomacy needs to focus on three key tasks. First, consolidate traditional growth drivers and effectively exploit new growth drivers.

Second, enhance efficiency and innovation in research, consulting, information and forecasting. Third, improve the efficiency of economic diplomacy and the coordinating role of the Economic Diplomacy Steering Committee.

Semiconductor, high-tech focus

According to information from the Ministry of Foreign Affairs, at the conference, heads of Vietnamese representative agencies abroad and heads of units also focused on discussing promoting new growth drivers to serve three strategic breakthroughs and renew traditional growth drivers. Delegates also discussed ways to improve the effectiveness of economic diplomacy, focusing on reviewing international agreements and commitments. The contents, focuses and driving forces that need to be focused on promoting from upgrading relations with major partners, key partners and by sector in the past have been identified. Delegates proposed and agreed on key economic diplomacy tasks in 2024, and discussed solutions to improve the effectiveness of economic diplomacy. The key solution in 2024 is to focus on urging and promoting agreements with partners, especially in new areas such as semiconductors, high technology, innovation, green transformation, etc. In his closing speech at the conference, Foreign Minister Bui Thanh Son affirmed that 2024 is a pivotal year of decisive significance. He suggested focusing on mobilizing resources from the entire unit and representative agency to make economic diplomacy truly a strong driving force for the country's rapid and sustainable development.

Duy Linh - Tuoitre.vn

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