Vietnam attracts international investment capital thanks to its stable political environment.

Acting Minister of Foreign Affairs Le Hoai Trung (center) at the working session. Photo: Ministry of Foreign Affairs

At the Policy Dialogue Roundtable, professors and scholars commented that the world is entering a volatile period with profound shifts in the global economic structure and the risk of supply chain disruption.

Three key trends were highlighted: increasingly fierce geopolitical and geo-economic competition, the shift to renewable energy, and a strong wave of widespread innovation.

In that context, Vietnam is highly appreciated for its outstanding advantages in the fields of energy and electronics, along with a stable political environment, becoming a leading attractive destination for international investment capital flows.

In that spirit, delegates made many recommendations to help Vietnam take advantage of opportunities and proactively respond to challenges.

The focus is on perfecting a transparent legal corridor, creating conditions for the private sector to participate more strongly; developing regulations on digital data exploitation and artificial intelligence application; and at the same time, enhancing regular dialogue between local authorities, central agencies and the business community.

These solutions are expected to remove bottlenecks, thereby creating a stable, favorable and sustainable investment environment, making Vietnam a reliable destination in the global investment flow.

Speaking at the seminar, Acting Minister of Foreign Affairs Le Hoai Trung said that all countries, including Vietnam, are facing major challenges in maintaining a peaceful and stable environment for development. In the coming period, Vietnam's strategic goal is to become a developing country with modern industry and reach an upper middle income level by 2030; and to become a developed, high-income country by 2045.

To realize that goal, Vietnam is determined to build an independent and self-reliant economy, resolutely implementing many comprehensive and strategic policies on science and technology, private economy, education, health care, etc., in parallel with reforming and streamlining the administrative apparatus from the central to local levels, promoting comprehensive and deep international integration.

Mr. Le Hoai Trung emphasized that science, technology and innovation are the most important driving forces for Vietnam's development in the coming time; he said that to achieve sustainable success, there needs to be a close connection between the "three houses": the State, businesses and scientists, thereby creating an innovation ecosystem, in which each element complements the other, promoting comprehensive development.

Therefore, the Acting Minister of Foreign Affairs highly appreciated the cooperation activities between Columbia University, the Weatherhead East Asia Institute and relevant agencies of Vietnam in recent times; at the same time, he suggested that the two sides continue to promote cooperation, exchange and research activities to make the most of the opportunities brought about by the scientific and technological revolution, contributing to the development of Vietnam.

* During the discussion at Columbia University, Acting Minister Le Hoai Trung received Vice President of SK Group (Korea) Yoo Young-wook.

Mr. Le Hoai Trung affirmed that the Vietnamese Government always cares about and creates favorable conditions for foreign enterprises, including Korean enterprises, to invest stably and long-term in Vietnam.

In response, the Vice President of SK Group affirmed his desire to continue promoting cooperation with Vietnam in projects with advanced technology, modern management, spillover effects, and connecting global production and supply chains in the coming time.

Source: https://hanoimoi.vn/viet-nam-hap-dan-von-dau-tu-quoc-te-nho-moi-truong-chinh-tri-on-dinh-717146.html