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In recent days, Tianjin - the largest port city in Northern China has become "hotter" when welcoming about 1,400 delegates including Prime Ministers and Ministers from 21 countries, leaders from about 850 corporations, agencies and global organizations to discuss hot issues of the world economy. The WEF Tianjin Conference is considered the most important event, the second largest in scale of the WEF after the Annual Conference in Davos (Switzerland).
Vietnam is one of five countries selected to attend at the Prime Minister level, alongside the Prime Ministers of China, New Zealand, Mongolia and Barbados. According to the WEF, these are representatives of emerging economies, making increasingly important contributions to the regional and global economy, pioneering in a number of key areas, creating new driving forces for development.
Taking place in the context of the world economy facing many difficulties and challenges, the Conference focused on assessing, discussing, finding directions and solutions, especially coordination between the State and enterprises to maintain growth momentum, responding to "headwinds" seriously affecting global economic growth in both the short and long term.
According to Chinese Premier Li Qiang, Vietnam is a very dynamic economy in Southeast Asia and Prime Minister Pham Minh Chinh's participation in this Forum is believed to play an active role in finding a path to recovery for the global economy.
According to Professor Klaus Schwab, Founder and Executive Chairman of WEF, Vietnam's participation and contribution at the Conference "brought an optimistic economic recovery story in the context of the global economy facing many challenges".
In the Vietnam-WEF National Strategic Dialogue - the only national dialogue organized by WEF within the framework of the Conference, with Prime Minister Pham Minh Chinh as the keynote speaker, Vietnam shared its experience as a model of economic recovery and is promoting the transformation of the growth model, creating an opportunity to discuss orientations, policies and the investment-business environment in Vietnam.
In particular, the Prime Minister's highlighting of six "headwinds" that are hindering the growth of the world economy at the Discussion Session with the theme "Coping with Headwinds: Restarting Growth in a Fragile Context" became a highlight of the activities at WEF Tianjin.
The six “headwinds” are: (i) global economic downturn, rising inflation, etc.; people's lives face many difficulties; (ii) the consequences of the Covid-19 pandemic on the world economy and countries are still long-lasting; (iii) geostrategic competition, protectionism, separation, fragmentation, lack of close connection; (iv) conflicts, including the conflict in Ukraine, threaten global food and energy security; (v) developing countries are most heavily impacted and have limited ability to adapt and withstand external shocks; (vi) climate change, natural disasters, and epidemics are increasingly complex and unpredictable.
To cope with the "headwinds", the head of the Vietnamese Government emphasized: "These are global issues that affect people, so a global, all-people approach is needed."
The Prime Minister outlined six important orientations: First , it is necessary to strengthen international solidarity, promote multilateralism; put people as both the subject and the center, the resource and the driving force for development. Second , it is necessary to focus on restoring production and business, creating jobs, promoting trade and investment, creating capital flows, markets and products.
Accordingly, international organizations, international financial institutions, and major countries need to have policies to unlock resources, activate new growth drivers in digital transformation, green growth, circular economy, market diversification, and fight against protectionism, with special priority given to poor and developing countries.
Third , there must be appropriate solutions to promote aggregate supply and aggregate demand through monetary and fiscal policies, promote trade and investment liberalization, and reduce energy and food prices. Fourth , do not politicize economic relations, and minimize factors that hinder global development. Fifth , find solutions to resolve conflicts early. Sixth , strengthen public-private cooperation, and create favorable conditions for businesses, especially small and medium-sized enterprises.
Prime Minister Pham Minh Chinh's message was highly appreciated and responded to by the Forum because it was "correct and accurate" and convincing because it shared Vietnam's experiences and lessons in the process of fighting the pandemic and recovering and promoting economic growth.
Sharing the comments and directions given by the Prime Minister, WEF President Borge Brende congratulated and said that the international community knows Vietnam as one of the countries with high economic growth in the region, developing very dynamically and converging many potentials to increasingly contribute to regional and global economic growth.
The Prime Minister had a busy schedule for nearly 24 hours in Tianjin, including attending and speaking at many important meetings; having substantive, effective, and open exchanges with leaders of countries, international organizations, and the world's leading corporations.
According to Foreign Minister Bui Thanh Son, the participation of Prime Minister Pham Minh Chinh at the WEF Tianjin Conference continues to contribute to promoting the substantive relationship between Vietnam and WEF. The signing of the Memorandum of Understanding (MOU) for the 2023-2026 period by the two sides creates a foundation to strengthen bilateral relations in the new period; conveying to the global business community about Vietnam's achievements, potential, strengths, goals and development orientations.
“The good news is that at all exchanges, Vietnam is always introduced as one of the economies with high growth rates, a dynamic and innovative economy with increasingly large scale and potential,” said the Foreign Minister.Source
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