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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), which was 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./.