Promote economic diplomacy

Foreign affairs in general, and economic diplomacy in particular, have been and are making important contributions to the achievements of socio-economic development. However, in the context of increasingly deep integration as today, it requires that awareness of the position, role and importance of economic diplomacy be strengthened more than ever.

Signing ceremony of the Memorandum of Understanding on cooperation between Niigata province, Japan and Thanh Hoa province, Vietnam. Photo: Minh Hieu

Economic diplomacy is identified as an important task, always receiving special attention from Thanh Hoa province, bringing many practical results. Accordingly, Thanh Hoa has been strengthening and expanding relations with a number of provinces and cities of other countries and international organizations. Typically, it focuses on deepening the comprehensive and effective cooperative relationship with Hua Phan province (Lao PDR); expanding cooperative relations with provinces and cities that have established friendly cooperative relations such as Seongnam city (Korea), Mittelsachsen province (Germany), Farwaniyah province (Kuwait); enhancing information exchange, moving towards establishing cooperative relations with Tula province (Russian Federation), Niigata province (Japan)...

At the end of November 2023, within the framework of the visit and work in Japan, comrade Do Trong Hung, member of the Party Central Committee, Secretary of the Provincial Party Committee, Chairman of the Provincial People's Council and the working delegation of Thanh Hoa province visited and worked with Sumitomo Group. This is the group that conducted an investment survey in the Western Industrial Park of Thanh Hoa City and the logistics center, urban development around the industrial park, with a total estimated investment of about 350 million USD. Along with that, the signing of the Memorandum of Understanding between Thanh Hoa province and Sumitomo Group marked a new step of development in the successful cooperative relationship between the two sides. As affirmed by the Secretary of the Provincial Party Committee at the meeting with the group's leaders: Thanh Hoa province always considers the success of Japanese investors as the success of Thanh Hoa province!

Along with improving the quality of foreign affairs activities, Thanh Hoa province always focuses on the field of economic diplomacy, aiming to attract investment resources to the province; at the same time, actively promoting the image, potential and advantages of Thanh Hoa to domestic and international friends. In particular, the cooperative relationship with economic groups and large enterprises at home and abroad is increasingly expanded, going into depth, being substantial and effective. To achieve that, the provincial leaders have directly worked with many international organizations, groups and investors to both call for and introduce investment opportunities and remove difficulties for projects that are preparing for investment in the province. In addition, to create a bridge for promoting economic diplomacy activities, the province has established the Thanh Hoa Special Investment Promotion and Support Board; established the Japan Support Department in Thanh Hoa province (Japan Desk)...

With the efforts in establishing and maintaining the above relationships, it has created an important premise for Thanh Hoa to strongly attract investment capital into the locality. Up to now, the province has 161 valid FDI projects, with a total registered investment capital of 14.65 billion USD, ranking first in the North Central provinces and 8th in the country in attracting FDI.

Based on the achieved results, in the coming foreign affairs work, focusing on economic diplomacy, Thanh Hoa province will well implement the signed cooperation agreements with localities and foreign partners. At the same time, continue to expand and establish cooperative relations with new localities and partners with potential in Northeast Asia, the Middle East, Europe, North America, etc. Improve the effectiveness of foreign information work; promote the promotion of socio-economic development achievements, cultural traditions, history, potential, investment opportunities in Thanh Hoa province to domestic and international friends and Thanh Hoa overseas Vietnamese to enhance the position, attract investment, and develop tourism.

Along with that, the province continues to pay attention to improving the quality and effectiveness of international integration, focusing on mobilizing, attracting, and selectively cooperating with foreign investment, focusing on economic groups and large enterprises, in line with the province's priority orientation. At the same time, promoting the implementation of administrative reform breakthroughs, creating an open and attractive investment environment to strongly attract investment. Actively participating in cooperation activities with global partners such as WB, IMF, ADB... to maximize resources for the province's development. In addition, focusing on improving the effectiveness of tourism promotion activities; labor cooperation agreements with key markets...

In particular, aiming to build economic diplomacy for development, focusing on people, localities and businesses, in the coming time, Thanh Hoa province will increase the organization of conferences and dialogue seminars between the government and domestic and foreign businesses to grasp information, answer questions and handle difficulties and problems of businesses. At the same time, organize conferences and forums to promote investment, connect businesses by industry and field to attract investment, effectively take advantage of the trend of investment shift and global supply chain to attract new investment, green investment, high-quality investment, associated with technology transfer and training of high-quality human resources in the province.

Along with that, the province also reviews, completes, and builds mechanisms and policies to attract investment in strategic sectors in key areas. Enhances the role and responsibility of foreign affairs agencies in appraising and handling difficulties in important projects with foreign elements or sensitive foreign affairs in the area. Continues to implement activities to support businesses to boost exports, maintain and consolidate key markets. At the same time, expand and diversify markets with potential partners. Research to support the removal of difficulties, promote the export of key products of the province, making a great contribution to the local budget.

In addition, the province also pays attention to supporting enterprises in the province to invest abroad to access advanced technology, acquire management experience, train human resources, and gradually improve competitiveness in domestic and foreign markets. Support enterprises to effectively utilize Free Trade Agreements (FTAs) and participate more deeply in regional and global supply chains, provide information and disseminate to enterprises about regulations, import and export standards, trade barriers and trade defense of partner countries in FTAs. Support enterprises to improve the capacity and quality of trade promotion, research needs, tastes, market information, connect, examine, verify partners, warn of risks and prevent and effectively handle international trade disputes. At the same time, coordinate and support enterprises to effectively implement tourism promotion and advertising activities to international partners and tourists; Promote the exploitation and promotion of the value of cultural heritages, historical relics, and scenic spots of the province to serve tourism development...

It can be affirmed that, in response to the current requirement to improve the quality and effectiveness of economic diplomacy in a comprehensive and substantive manner, it requires the awareness of all levels, sectors, localities and units on economic diplomacy to be raised, even to be one step ahead. At the same time, it is necessary to plan appropriate policies and measures to facilitate economic diplomacy to promote its unique advantages in the province's foreign affairs.

Khoi Nguyen

Source: https://baothanhhoa.vn/kinh-te/thuc-day-ngoai-giao-kinh-te/209980.htm