Economic diplomacy is becoming more and more substantial and methodical.

Prime Minister Pham Minh Chinh chairs conference to deploy economic diplomacy tasks in 2025

On the evening of December 20, chairing the Prime Minister's Conference with ambassadors and heads of Vietnamese representative agencies abroad to review economic diplomacy in 2024 and deploy key tasks in 2025, Prime Minister Pham Minh Chinh said that economic diplomacy is becoming more and more substantial and methodical, with "3 clear": clear results, clear products, clear contributions to the country's socio-economic development.

The conference was held in person and online at the Government headquarters with 94 Vietnamese representative agencies abroad and 63 People's Committees of provinces and centrally run cities.

Attending the conference were Deputy Prime Minister and Foreign Minister Bui Thanh Son; ministers, heads of ministerial-level agencies, government agencies; leaders of ministries, branches, central agencies; chairmen of People's Committees, leaders of provinces and centrally run cities; leaders of business associations, industries and Vietnamese representative agencies abroad.

Delegates attending the Conference on implementing economic diplomacy work in 2025 at the Hanoi bridge point

According to the Ministry of Foreign Affairs, economic diplomacy has actively contributed to implementing the direction of the Government and the Prime Minister on renewing traditional growth drivers and promoting new growth drivers.

In nearly 60 foreign affairs activities of key Party and State leaders in 2024, economic content has become the focus, bringing specific and substantive results. Notable are the Prime Minister's visits to India, Australia, New Zealand, South Korea, UAE, Qatar, Saudi Arabia, Hungary, Romania, Dominica; working visits to China, Russia... More than 170 cooperation agreements have been signed.

Vietnam's foreign relations continue to be expanded, upgraded and enhanced. Vietnam has promoted the renewal of traditional growth drivers in trade, investment, tourism and labor with major markets and key and important investment partners, especially in Northeast Asia; America, India, the Middle East; especially with China, South Korea, Japan, etc.

Economic diplomacy, especially diplomacy on technology, semiconductors, innovation, etc., has been promoted with key partners and large corporations. Corporations such as Apple, Intel, Google, NVIDIA, Samsung, LG, Cadence, Qorvo, Marvell, Siemens, etc. have invested, expanded their investment and cooperated with Vietnam.

With markets that still have much room such as Latin America, Middle East-Africa, Central Eastern Europe, Vietnam has promoted economic diplomacy with important partners such as Chile, Argentina, Peru, Hungary, Romania, UAE, Qatar... to promote new directions such as developing the Halal industry...

Vietnam has increased the total number of free trade agreements (FTAs) signed and participated in to 17; promoted the implementation of signed FTAs, actively removed market barriers, thereby contributing to the recovery and growth of exports; focused on removing technical obstacles when implementing the Free Trade Agreement between Vietnam and the European Union (EVFTA), mobilized EU members on the Investment Protection Agreement (EVIPA), removed the IUU yellow card for Vietnamese seafood, requested the United States to remove Vietnam from the D1-D3 group and soon recognize Vietnam as a market economy.

Trade with many traditional markets and potential markets in the Middle East and Latin America has grown positively, including promoting negotiations for FTAs ​​with the Southern Common Market (MERCOSUR), the European Free Trade Association, the ASEAN-Canada FTA, etc.

However, economic diplomacy still has limitations such as: not taking full and effective advantage of upgrading and upgrading relations with partners; economic cooperation with some strategic areas is not commensurate with the cooperation framework; implementation of commitments and agreements is sometimes and in some places slow; research, forecasting and consulting work in some cases is not proactive and does not keep up with developments...

At the conference, delegates discussed and assessed the situation; analyzed causes; lessons learned and proposed breakthrough solutions, promoted trade and investment cooperation to accelerate investment attraction in Vietnam, expand import and export markets and increase trade turnover; promoted technology transfer, experience in institutional improvement, attracting human resources, management science, etc. In particular, delegates proposed the need to connect and encourage Vietnamese enterprises to invest abroad, so that Vietnamese enterprises and brands can reach out to the world.

Delegates proposed promoting economic diplomacy in high-level diplomatic activities; establishing mechanisms to accelerate the implementation of high-level commitments and agreements; creating breakthroughs in economic, trade, investment, labor relations, new growth drivers such as science and technology, innovation, green economy, digital economy, especially emerging industries such as artificial intelligence, semiconductors, internet of things, cloud computing, etc.

Concluding the conference, Prime Minister Pham Minh Chinh congratulated and welcomed the positive results in economic diplomacy, which were a bright spot in foreign affairs, making an important contribution to the country's socio-economic development achievements, with 15/15 targets achieved and exceeded. Growth was around 7%, FDI attraction in 11 months increased by 12.4% to 31.4 billion, with disbursement reaching 21.7 billion USD, the highest in many years; import-export turnover was around 800 billion USD...

Conference on implementing economic diplomacy tasks in 2025 at Hanoi bridge

Economic diplomacy has truly become the key content in all foreign affairs activities, especially high-level foreign affairs; transformation in thinking and working methods; effective contribution to the implementation of strategic breakthroughs; economic diplomacy has been institutionalized, systematized in a methodical manner and has the consensus and participation of the entire political system, and the close coordination of ministries, branches and localities.

Reviewing 700 economic diplomacy, trade, investment and tourism promotion activities carried out at Vietnamese representative agencies abroad and more than 400 trade and investment promotion activities in localities at home and abroad with diverse, rich and flexible forms, the Prime Minister affirmed that economic diplomacy is increasingly more substantial and methodical, with "3 clear": clear results, clear products, clear contributions to the country's socio-economic development.

Praising relevant entities and pointing out lessons learned in economic diplomacy, the Prime Minister also pointed out a number of limitations, especially the “disease” of achievements, formalities, superficiality…; at the same time, he said that in the coming time, the international situation will become increasingly complicated, intertwined with opportunities and challenges, in which the challenges will still be prominent. Therefore, it is necessary to have high determination, great efforts, drastic actions, with focus and key points to create breakthroughs in economic diplomacy.

Delegates attending the Conference on implementing economic diplomacy tasks in 2025 at the Hanoi bridge point

Highlighting the importance of intelligence, time, grasping the situation, adapting flexibly and decisively, Prime Minister Pham Minh Chinh said that 2025 is both a year of acceleration, completing the development goals of the 2021-2025 period; and also a period of urgent preparation for the 14th National Party Congress, opening a new era, an era of national growth.

To reach the goal of upper middle income for its people by 2030 and high income by 2045, Vietnam's economic growth rate must reach 8% in 2025 and reach double digits in the upcoming development period. Economic diplomacy must contribute more to this goal.

The Prime Minister requested that in the coming time, economic diplomacy must focus on promoting the signing of legal frameworks such as FTAs, IPAs, CEPAs, etc.; assessing the potential differences, outstanding opportunities, and competitive advantages of Vietnam and its partners to identify issues that can be cooperated, supplemented, and competed with each other; innovating visa policies, diversifying visa types; promoting the connection between Vietnamese enterprises and enterprises of other countries.

Pointing out that economic diplomacy is a new and important driving force, the Prime Minister requested to renew traditional growth drivers such as export, investment, and consumption; promote new growth drivers such as green economy, digital economy, circular economy, knowledge economy, sharing economy, and night-time economy; focus on building brands for Vietnamese products and services; promote more effective and substantive trade and investment; develop sustainable competitive markets; diversify products, diversify markets, and diversify supply chains. Promote diplomacy in all fields, expand cooperation in technology, especially technology transfer such as semiconductor chips, artificial intelligence; jointly exploit space, sea space, underground space, etc.

Assigning specific tasks to ambassadors and heads of Vietnamese agencies abroad, such as: requesting the United States to remove Vietnam from the D1-D3 group and soon recognize Vietnam as a market economy; promoting cooperation with China in developing border gate economy, traffic connection, especially railway connection; cooperating with Middle Eastern countries to build an International Financial Center in Ho Chi Minh City..., the Prime Minister pointed out that "what is said must be done, what is committed must be done, what is done must have specific results."

Emphasizing the need to assign "clear goals, clear people, clear work, clear time, clear responsibilities, clear products, clear results," Prime Minister Pham Minh Chinh believes that with the joint efforts, solidarity and consensus of ministries, branches, localities, associations and enterprises, especially the proactiveness and promoting the pioneering role of the diplomatic sector and representative agencies abroad, economic diplomacy will continue to be implemented more strongly, comprehensively and creatively and achieve better and more breakthrough results next year than the previous year, contributing to socio-economic development, successfully implementing the goals of the 2021-2025 period; consolidating the foundation for the country to enter a new era, the era of national development.

TB (according to VNA)

Source: https://baohaiduong.vn/cong-tac-ngoai-giao-kinh-te-ngay-cang-thuc-chat-va-bai-ban-hon-401034.html