General Secretary To Lam attends Vietnam

Photo caption — General Secretary To Lam with delegates attending the Vietnam - UK Business Forum. Photo: Thong Nhat/VNA

General Secretary To Lam and the Vietnamese high-ranking delegation attended the Dialogue, with the participation of many typical businesses of the two countries.

At the Dialogue, leaders of typical UK businesses emphasized that this is an event held at a very meaningful time in the context of the two countries upgrading their relationship to Comprehensive Strategic Partnership after more than 50 years of establishing diplomatic relations. This is a historic journey and the relationship between the two sides has continuously gone through many important development milestones, achieving positive progress. Leaders of typical UK businesses presented their enthusiastic opinions, going straight to the issues of effective investment cooperation between Vietnam and the UK in the coming time.

Appreciating and basically agreeing with the opinions of the delegates, speaking at the seminar, General Secretary To Lam emphasized that the world is witnessing rapid, complex and unpredictable economic, political, scientific and artificial intelligence (AI) developments. Strategic competition, military conflicts, tariff protection, climate change, natural disasters, and increasingly extreme epidemics... have negatively impacted the growth prospects of most economies.

However, global fluctuations are also creating new shifting trends, opening up many new opportunities for Vietnam. In the process, Vietnam is considered a "safe destination" and attractive thanks to factors such as a stable political foundation; geostrategic location; increasingly deep international integration; rapid, stable and sustainable economic growth; young, abundant, dynamic, competitive human resources in the "golden population" period; increasingly open legal institutions, in line with international practices and laws; outstanding investment incentives; and an increasingly improved investment and business environment.

General Secretary To Lam said that, based on the achieved results, Vietnam is continuing to perfect its institutions, improve the investment and business environment, remove "bottlenecks" to unlock resources, promote economic restructuring associated with growth model innovation. In particular, Vietnam is implementing important policies to create momentum for the new period, including: Innovating the work of law making and enforcement, defining a synchronous and transparent legal system, increasingly approaching international business law, as the foundation for establishing a stable investment and business environment and promoting innovation; creating breakthroughs in science and technology, innovation and digital transformation, identifying this as the main driving force for restructuring the economy, innovating the growth model, creating a "qualitative" change in economic growth and development in the coming time.

Vietnam identifies private economic development as the "most important driving force" of the national economy; private economic development is not only an economic requirement but also a political imperative to meet the development needs of the times; promoting international integration; in which, internal resources are placed in a decisive position; external resources are an important supplementary and supportive resource for the development process; at the same time, proposing important policies to create breakthroughs in the fields of energy, education - training, health and people's health care.

Regarding cooperation and foreign investment attraction, Vietnam has shifted from the mindset of "attracting in breadth" to "attracting in depth", selectively to meet the practical requirements of development, prioritizing projects with advanced technology, new technology, high technology, clean technology, modern management, high added value, spillover effects, connecting global production and supply chains.

General Secretary To Lam was pleased to note that, over the past time, the Vietnam - UK Strategic Partnership has developed well in all aspects, gradually becoming more substantial, effective and in-depth. In particular, economic - trade - investment cooperation continues to be a prominent "bright spot" in the bilateral relationship between the two countries. Vietnam appreciates UK associations and businesses that have made many contributions to the industrialization, modernization and socio-economic development of Vietnam. Vietnam welcomes UK businesses that have always complied with the law, paid attention to developing institutions for workers, and promoted social and environmental responsibility in the process of investment and business activities in Vietnam.

Besides the positive results achieved, General Secretary To Lam said that the results of economic-trade-investment cooperation between Vietnam and the UK are still not commensurate with the good political-diplomatic relations and potential, strengths, and room for cooperation of each country.

To maximize the potential of the two countries in the coming period, General Secretary To Lam suggested that British businesses continue to expand investment and business activities in areas where the UK has strong experience and Vietnam has potential and demand, such as green economy, digital economy, knowledge economy, circular economy, high technology, AI, energy, finance - banking, etc.

British businesses quickly "seize the opportunity", soon "transform" business ideas into practical projects, bringing benefits to both sides; promoting bilateral dialogue mechanisms through focal points such as the Ministry of Finance, the Ministry of Foreign Affairs and the Embassy.

General Secretary To Lam hopes that the British Government and businesses will have practical support solutions to enhance technology transfer, improve management capacity, and form linkage chains between FDI enterprises and domestic enterprises. Thereby, bringing Vietnamese enterprises deeper into the global value chain.

General Secretary To Lam affirmed that with "high determination, far-sighted vision, and great aspirations", Vietnam's goal of "rising forward in the new era" is not only a task but also a mandate of the times and a mission of history. That mission requires the companionship, cooperation, and sharing of the international partner community, including the UK.

The Party, State and People of Vietnam pledge to always "accompany" and wish to continue receiving support and close cooperation from international friends and partners in the role of bridging and promoting foreign investors, especially British investors, in the process of building and developing the country.