Prime Minister Pham Minh Chinh on October 29 co-chairs the World Economic Forum (WEF)'s Country Strategic Dialogue on Vietnam 2021 via videoconference (Photo: VNA)

Themed “Public Private Partnership - The Key Driver for Comprehensive Recovery and Sustainable, Resilient and Innovative Growth”, the dialogue saw the participation of WEF President Borge Brende, ministers and leaders of Vietnamese agencies along with 70 global and regional leaders of the world’s leading groups and businesses.

Opening the event, Schwab spoke highly of Vietnam’s quick implementation of vaccinations, while expressing his belief that the country will defeat the pandemic and continue maintaining its impressive growth momentum in the coming decades. 

In his speech, PM Chinh affirmed Vietnam’s determination to recover and develop the economy, while emphasising that the government and businesses need to strengthen the public-private partnership to overcome difficulties in the context of the pandemic.

He highlighted the country’s socio-economic situation with improvements in October as the pandemic has been basically controlled and the economy has been re-opened step by step.

In ten months of this year, newly-registered FDI rose by 11.6 percent and over 15 billion USD were disbursed. Exports went up 16.6 percent annually while the consumer price index inched up 1.81 percent, showing that the existing difficulties are only temporary. Vietnam’s potential, advantages, new driving force for long-term development and macro-economic foundations as well as major balances remain stable and solid, he said.

The PM stressed that Vietnam gives priority to restructuring its economy in combination with renewing growth model, improving productivity, quality, efficiency and self-resilience of the economy following the pandemic.

Based on Vietnam’s development orientations, he called on investors to restore safe production in industrial, economic, hi-tech and processing zones to maintain orders and supply chains, as well as invest in fields of Vietnam’s priority with special incentives such as hi-tech, information technology and support industry.

The Prime Minister's speech received special and response from business leaders. Many regional and global business heads highly valued the Vietnamese Government's decision to shift to safe adaptation to the epidemic. They acknowledged Vietnam's efforts in universal vaccination and disease control as well as its support packages for firms and workers.

The foreign business community made numerous policy recommendations to revive and stimulate the economy, promote foreign direct investment, and improve domestic and cross-border goods transport connections.

Major technology corporations proposed policies for the promotion of public-private partnership to develop digital infrastructure, and encourage investment in digital transformation, and strategies to take advantage of the 4th industrial revolution technology in COVID-19 response and post-pandemic recovery.

In the field of renewable energy, an enterprise proposed that Vietnam set up a consultative energy forum with the participation of the private sector and the Government to strengthen cooperation in this area.

Closing the dialogue, Schwab once again expressed his belief in the potential and position of Vietnam. He pledged that the WEF will continue to give maximum cooperation and support to the Government of Vietnam.

The Country Strategic Dialogue on Vietnam is one of the most important events in the WEF agenda in 2021 to support global corporations to expand their investment and business, and anticipate new trends in the context of the global ecpnomy on the way to recovery.

It is also an important event for the Vietnamese Prime Minister to discuss directly with global business leaders in order to mobilise all resources for the implementation of the country’s socio-economic recovery and development plans.

Significance of Vietnam-WEF strategic dialogue highlighted

Deputy Minister of Foreign Affairs Nguyen Minh Vu has shared the significance of the national strategic dialogue between Vietnam and the World Economic Forum (WEF), co-chaired by Prime Minister Pham Minh Chinh and WEF Founder and Executive Chairman Klaus Schwab on October 29.

The first event of its kind took the theme "Enhancing public-private partnership: Key motivation for comprehensive recovery and inclusive, sustainable development and innovation", attracting nearly 70 global corporations, especially those working in fields that match Vietnam’s development priorities such as technology, health care, smart solutions and renewable energy.

Vu said the event took place at a time when the world economy is recovering in many areas and the COVID-19 has been gradually under control.

It provided a platform for the Vietnamese Government to share economic recovery plans, thus boosting cooperation between the Government, localities and leading corporations in restoring production and trade, especially in industrial and economic zones at present and in the near future, he said.

According to him, it also afforded the Vietnamese PM a chance to extend a policy message to the global business community that the Vietnamese Government is stepping up business recovery in the new normal as well as long-term plans on economic reform.

The Vietnamese leader was also able to learn about difficulties faced by foreign investors, thus drawing high-quality foreign investment to Vietnam and tapping the trend of relocating investments and supply chains over the past time, he said.

Vu informed that the Vietnamese Government and the WEF established bilateral ties in 1989. Vietnam is one of the countries to regularly join annual activities of the WEF in Davos. Both sides devised long-term cooperation plans and recently held joint events, notably the WEF on ASEAN 2018 in Vietnam, which was hailed as a success.

The deputy minister said the WEF praises Vietnam as a dynamic economy which always shows its commitments to renovation and reform.

The WEF could bring Vietnam closer to the world’s leading investors and businesspeople to join in its economy, he added.

In his view, Vietnam needs policy consultations from the WEF to update new ideas and mindsets in directing socio-economic development./.

Source: VNA