Deputy Minister Nguyen Minh Hang: Economic diplomacy creates new opportunities for the country!

Deputy Foreign Minister Nguyen Minh Hang said that the world context with many challenges and opportunities intertwined is "good soil" for economic diplomacy to grasp trends and actively create new opportunities for national development.

Deputy Foreign Minister Nguyen Minh Hang, Head of the Steering Committee for Economic Diplomacy, said that when the world is forecast to continue to have landmark changes, shifting to a new situation, with new super cycles, the explosion of breakthrough technologies and the application of many new global standards, many intertwined challenges and opportunities are the "good soil" for economic diplomacy to grasp new trends, create new opportunities, and contribute to the country's development.

Prime Minister Pham Minh Chinh attended as the main guest of the World Economic Forum (WEF) at the Policy Dialogue session “Vietnam: Orienting a global vision”, on January 16. (Source: VNA)

Dear Deputy Minister, after the "vaccine hunt around the world", are we now on a "hunt" for new development ideas to accelerate national development? You are right when you say "hunt". We have implemented the vaccine diplomacy campaign very well, contributing to the successful implementation of the fastest vaccine strategy on the largest scale in history, helping to protect the health and lives of the people. It can be said that the vaccine diplomacy campaign is a model for us to implement other campaigns. The new context of course poses many new tasks for the Ministry of Foreign Affairs , including economic diplomacy with a pioneering role, taking the lead, actively accompanying ministries, branches, agencies, localities, and enterprises in attracting resources to serve national development. We need to "hunt" for new ideas to contribute to socio-economic development in the new context. That is, to strengthen economic cooperation contents in the construction and implementation of projects and plans for developing relations with partners as well as in foreign visits and contacts, especially high-level foreign affairs. To closely coordinate with ministries and branches to advise the Government to promote the establishment of cooperation frameworks in new, substantive and breakthrough fields. That is to step up research, forecasting, consulting and actively promote international linkages to expand economic space, promote exports, attract high-quality investment, and maximize external resources for socio-economic development and the process of transforming the growth model. That is, in the spirit of economic diplomacy "taking people, localities and enterprises as the center of service", we continue to maintain the role of "trusted companion", promoting the implementation of breakthrough and pioneering functions. As we have done very well in recent years, boldly opening up new fields, seeking new partners, new directions with high efficiency, bringing practical results to localities and businesses; finding new products to connect more effectively internationally, promoting cooperation. The Deputy Minister just mentioned the phrase "taking people, localities, and businesses as the center of service". Could the Deputy Minister share how we have concretized this motto? Having been involved in economic diplomacy for a long time, I find this to be a very practical and specific motto. Economic diplomacy is ultimately to serve people, localities, businesses and thereby serve the country. In recent times, economic diplomacy has focused on promoting expansion into new fields with much potential. Relevant units of the Ministry of Foreign Affairs and Vietnamese representative agencies abroad are always ready to advise, provide information and international experience to business associations and enterprises, such as experience in greening the textile and garment industry, experience in developing tourism , developing tourism services related to the Halal industry, etc. Recently, the Ministry of Foreign Affairs has organized two seminars with the Pharmaceutical Business Association and organized connections for pharmaceutical businesses with partners in South Africa. We also hosted the first large-scale business delegation from the Middle East region, specifically Saudi Arabia, contributing to creating a spillover effect in attracting cooperation with businesses in the Middle East region. In the near future, we will welcome a delegation of leading Nordic businesses interested in cooperation in the fields of green transformation, digital transformation, circular economy development, energy transformation, etc. Interestingly, at the meeting with Prime Minister Pham Minh Chinh at the World Economic Forum (WEF) Davos 2024, the leader of Skandinaviska Enskilda Banken (SEB - Sweden), the annual organizer of the Nordic business community, said that Vietnam's attractiveness has made more than 100 businesses register to participate, and this will be a very important destination for them. In addition, we have supported and coordinated with localities across the country to organize hundreds of seminars connecting localities with international partners, supporting localities in implementing foreign affairs activities, promoting trade, investment, tourism, and implementing cultural diplomacy both domestically and abroad. Ambassadors and Heads of Vietnamese representative agencies abroad have been very active and have had many meetings with business associations such as seafood, footwear, wooden products... which are Vietnam's strengths.

National Assembly Chairman Vuong Dinh Hue at a meeting with Heads of Vietnamese Representative Agencies Abroad to attend the 32nd Diplomatic Conference, December 2023. (Photo: Nguyen Hong)

Having just accompanied the Prime Minister on a working trip to Davos, could you please share how we have grasped new development trends and how countries, international organizations and businesses evaluate us? As the world continues to undergo landmark changes, shifting to a new situation, with new super cycles, the explosion of breakthrough technologies and the application of many new global standards, many intertwined challenges and opportunities are the "fertile ground" for economic diplomacy to grasp new trends, create new opportunities, and contribute to the country's development.

When attending the 54th Annual Meeting of the World Economic Forum (WEF) in Davos, we realized that our participation in the WEF is to participate in the "innovation ideas market". There are many opportunities to exchange and access new ideas and development trends in the world to serve the construction and implementation of strategies and plans for socio-economic development of the country. Through this prestigious economic forum in the world, we have grasped new thinking, cooperation ideas, and new trends of the global economy. Through this, we realize that the world is entering a new stage of development with growth drivers driven by artificial intelligence and carbon emission reduction technologies. Leaders emphasized strengthening strategic trust, promoting a balanced approach between cooperation and competition in solving current global challenges. On the contrary, Vietnam has also created a new wind for high-quality foreign investment cooperation, contributing to renewing traditional growth drivers and promoting new growth drivers. Leaders of countries and international organizations highly appreciated Vietnam's thinking, vision and solutions that the Prime Minister shared on promoting international solidarity, upholding multilateralism, building strategic trust, ensuring balance of interests and promoting a global, all-people approach... In particular, the Vietnam National Strategy Dialogue and the Dialogue "Vietnam: Orienting a Global Vision" left a deep impression on Vietnam's outstanding socio-economic achievements, orientations and strategies for national development and Vietnam's independent and autonomous foreign policy and guidelines; Vietnam's responsible and effective contributions to peace and development in the region and the world. The Prime Minister’s speeches conveyed clear messages about Vietnam as a dynamic, innovative country, an attractive investment destination for global corporations. Representatives of corporations and enterprises expressed their impression of Vietnam’s strategic development vision; expressed their excitement and interest in investment and business opportunities in Vietnam and immediately committed to organizing large business delegations to Vietnam in the near future.

Deputy Minister of Foreign Affairs Nguyen Minh Hang.

With what we have done and have not done in the past year, according to the Deputy Minister, in the coming time, what priorities should we focus on? 2024 is a pivotal year, of decisive significance for the successful implementation of the Socio-Economic Development Strategy for the 2021-2025 period, creating an important foundation towards the 14th National Party Congress. Closely following the Government's 2024 management theme of "Discipline, responsibility, proactiveness, acceleration of innovation, sustainable efficiency", implementing the results of the 32nd Diplomatic Conference, we are determined to resolutely promote economic diplomacy to serve development in the coming time according to the following four orientations: First, the most important task is to make the most of and effectively enhance and upgrade relations with key partners, potential partners, take advantage of Vietnam's new prestige and position to turn them into cooperation projects that bring specific results. Therefore, economic content will continue to be one of the focuses in foreign affairs activities, especially high-level foreign affairs. Second, economic diplomacy will focus on promoting connectivity and attracting investment resources to serve new growth drivers such as digital economy, green economy, circular economy, artificial intelligence, semiconductors, hydrogen. In trade, we will continue to consolidate major export markets in North America, Northeast Asia, Europe and expand potential markets in the Middle East, Africa, and Latin America. Third, economic diplomacy will continue to resolutely, effectively and substantially implement the task of focusing on people, localities and enterprises on the basis of maximizing the spirit of breakthrough - paving the way, accompanying - serving to support localities and enterprises to improve the effectiveness of foreign economic promotion, take advantage of opportunities and limit challenges in the process of international cooperation and integration. Fourth, research and strategic advisory work will continue to be considered a fundamental and core task. The Ministry of Foreign Affairs and representative agencies will pay special attention to improving the quality, sensitivity and timeliness in implementing this work to most practically serve the Party and the Government in planning the Party's economic policies and guidelines and managing the socio-economy. In that spirit, promoting the important results achieved in 2023, with a new spirit and in a new development stage of the country, I believe that economic diplomacy in 2024 will achieve more achievements, contributing to limiting challenges and turning opportunities into specific and substantive results to truly become an important driving force for the country's rapid and sustainable development as determined by Directive No. 15-CT/TW of the Secretariat. On the occasion of the upcoming Lunar New Year, we wish all readers of The Gioi & Viet Nam Newspaper a new year filled with health, happiness and success in all aspects.

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