At the invitation of Founder and Chairman of the World Economic Forum (WEF) Klaus Schwab, Prime Minister of Hungary Viktor Orbán and Prime Minister of Romania Ion-Marcel Ciolacu, Prime Minister of the Socialist Republic of Vietnam Pham Minh Chinh and his wife, along with a high-ranking Vietnamese delegation, left for the 54th Annual Meeting of the WEF in Davos, Switzerland, and for official visits to Hungary and Romania.
Prime Minister Pham Minh Chinh, Founder and Chairman of the World Economic Forum (WEF) Klaus Schwab, Hungarian Prime Minister Viktor Orbán and Romanian Prime Minister Ion-Marcel Ciolacu (from left).
This year's WEF Davos is the largest conference since the Covid-19 pandemic with more than 2,600 delegates attending, including leaders of nearly 70 countries and international organizations, marking an even higher level of participation than before the Covid-19 pandemic. Prime Minister Pham Minh Chinh's attendance at the WEF Davos 2024 is an important opportunity to introduce to the international community Vietnam's dynamic and positive development achievements in recent times.
This official visit to Hungary by Prime Minister Pham Minh Chinh is the first delegation exchange at the Prime Minister level between the two countries in the past 7 years, and is of great significance in deepening the Vietnam-Hungary Comprehensive Partnership.
For Romania, this visit by Prime Minister Pham Minh Chinh is the first delegation exchange at the Prime Minister level between the two countries in the past five years, helping to create momentum to promote bilateral cooperation in Romania's areas of strength and in line with Vietnam's development needs.
Fostering collaboration in a fragmented world
A non-profit organization operating in the form of public-private partnership, WEF was founded in 1971 by Professor Klaus Schwab, headquartered in Geneva, Switzerland. WEF currently has about 700 partners who are leaders of the world's leading corporations in various fields. WEF is also one of the first forums to discuss the Fourth Industrial Revolution and is currently implementing a number of specific initiatives related to this issue.
The most important event of WEF is the Annual Meeting held every January in Davos, Switzerland. In addition, there are regional forums such as the WEF Tianjin (or Dalian, China), WEF ASEAN... WEF events attract the participation of the world's leading political, business, cultural, social, research-academic leaders to shape agendas at the regional and global levels.
The 54th WEF Davos Annual Meeting with the theme “Rebuilding Trust” will be held from January 15 to 19, 2024 in Davos, Switzerland. The meeting will focus on discussing and proposing solutions to four groups of issues, including: (i) Promoting security and mutually beneficial cooperation in a fragmented world; (ii) Building economic policies suitable for the new era; (iii) Long-term strategies for climate, nature and energy; (iv) Artificial intelligence as a driving force for economic and social development.
Relations between Vietnam and WEF on a good development path
Since Vietnam and WEF established relations in 1989, the cooperation between Vietnam and WEF has been promoted and developed in many fields by leaders of both sides. Vietnam has attended the WEF Davos Annual Meeting at the Prime Minister level four times; and the WEF ASEAN Meeting at the Prime Minister level four times.
Leaders of the two sides also promoted high-level contacts and exchanges, especially between Prime Minister Pham Minh Chinh and WEF Founder and Executive Chairman Klaus Schwab at the WEF Tianjin Conference (June 2023), the 41st ASEAN Summit (November 2022) and the 43rd (September 2023).
On the occasion of attending the 43rd ASEAN Summit and related conferences in Indonesia, on the afternoon of September 5, 2023, Prime Minister Pham Minh Chinh met with WEF Founder and Chairman Klaus Schwab. (Photo: VNA)
Vietnam and WEF have coordinated to organize many important conferences. The first National Strategy Dialogue (CSD) between Vietnam and WEF (held in October 2021) was held in both face-to-face and online formats with the theme "Strengthening public-private partnerships: A key driver of comprehensive recovery and sustainable, inclusive and innovative development" . The dialogue is considered the most successful national strategy dialogue that WEF has coordinated with a country to organize, in terms of participation level, content, timing and organization. At the 2023 WEF Tianjin Conference, Prime Minister Pham Minh Chinh co-chaired the second National Strategy Dialogue (held in June 2023) with the theme "Promoting new growth drivers to create the country's future".
On June 26, 2023, at the WEF Tianjin Conference, Vietnam and WEF signed the Vietnam-WEF Cooperation Memorandum of Understanding for the 2023-2026 period, witnessed by Prime Minister Pham Minh Chinh and Professor Klaus Schwab, which is an important foundation to promote bilateral cooperation in the new period.
Vietnam's active cooperation, participation in conferences and successful coordination in organizing a number of WEF events have helped our country attract investment, promote the country's image, and strengthen relations with global corporations.
Prime Minister Pham Minh Chinh and WEF Founder and Chairman Klaus Schwab witnessed the signing of the Vietnam-WEF Memorandum of Understanding for the 2023-2026 period. (Photo: VNA)
As a member of many regional and international organizations, Hungary has a foreign policy that gives high priority to integration and comprehensive engagement with the EU; at the same time, it strongly implements an Eastward policy, promoting relations with Asia, especially with China, South Korea, Japan and Vietnam.
Vietnam and Hungary established diplomatic relations on February 3, 1950. Hungary has given Vietnam good feelings, valuable support and assistance in the past struggle for national liberation and reunification as well as in the current national construction and development. The upgrading of the relationship between the two countries to a Comprehensive Partnership during General Secretary Nguyen Phu Trong's visit to Hungary in 2018 demonstrated the determination of the two countries' leaders in promoting bilateral relations.
Regarding economic and trade cooperation, the Vietnam-Hungary Joint Committee on Economic Cooperation has played a good role in promoting bilateral cooperation. The first meeting of the Committee took place in Budapest (December 2005). In Southeast Asia, Vietnam is the only country exporting to Hungary with a large output, reaching nearly 1 billion USD in 2020. This shows that the Hungarian market has great potential and many opportunities for development. Our main export items are textiles, footwear, computers, electronic products and components, means of transport and spare parts, etc.
On December 1, 2023, on the occasion of attending the COP28 Summit in the UAE, Prime Minister Pham Minh Chinh met with Hungarian President Katalin Novak. (Photo: VGP)
Calculate To date, Hungary has 15 valid FDI projects in Vietnam with a total registered capital of 50.66 million USD, ranking 55th among countries and territories with direct investment in Vietnam.
In terms of investment, out of 15 Hungarian projects, there are 3 projects in the manufacturing and processing sector with a total investment of 41.82 million USD. The second largest is the communications sector with 3 projects with a total investment of 5.87 million USD. The real estate business sector is third with 1 project with a total investment of 2 million USD. The rest are other sectors.
Regarding development cooperation, since 2003, Hungary has put Vietnam on the priority list of receiving official development assistance (ODA). Hungary is the largest ODA provider to Vietnam in the Central Eastern European region. In 2009, Hungary committed 60 million euros in preferential credit for the project to build the Can Tho City Oncology Hospital with a scale of 500 beds. In January 2016, the two sides signed a financial cooperation agreement worth 60 million euros to build the Can Tho City Oncology Hospital. In January 2017, the two sides signed a framework agreement on credit cooperation worth 440 million euros between the Vietnamese Government and the Hungarian Government.
During the Covid-19 pandemic outbreak, Hungary was one of the first countries to support Vietnam with more than 200,000 doses of vaccine and many medical equipment, and transferred more than 400,000 doses of vaccine, contributing to helping Vietnam overcome the epidemic soon.
On the afternoon of November 15, 2023, in Hanoi, Prime Minister Pham Minh Chinh received Hungarian Minister of Justice Tuzson Bence on a working visit to Vietnam. (Photo: Nhan Dan)
Education and training is a traditional area of cooperation between Vietnam and Hungary. In the past, Hungary helped Vietnam train thousands of experts and engineers. Currently, Hungary is the country that provides the most scholarships to Vietnam among EU countries.
The Vietnamese community in Hungary currently has about 6,000 people, living mainly in Budapest, with a relatively stable life and a good image of Vietnamese people in the country. The people are always united and turn towards the Fatherland.
In the context of the developing relations between the two countries, the official visit to Hungary by Prime Minister Pham Minh Chinh and his wife is of great significance in further deepening the Vietnam-Hungary Comprehensive Partnership, especially in the fields of economy, education-training, and pharmaceutical technology. In addition, in the context of Hungary assuming the rotating presidency of the EU Council in the last 6 months of 2024, the visit is an opportunity for Vietnam to strengthen coordination with the EU on regional and global issues, especially promoting the ratification of the Vietnam-EU Investment Protection Agreement (EVIPA).
In its foreign policy, Romania prioritizes enhancing its position and role in the EU and NATO, strengthening its strategic alliance with the US, and promoting relations with Asia-Pacific, of which Vietnam is one of the top priorities.
Vietnam and Romania have a traditional relationship and good cooperation with a history of more than 70 years. Vietnam established diplomatic relations with Romania on February 3, 1950.
The two countries regularly exchange delegations at all levels, including high-level ones. Romanian leaders always affirm that Vietnam is a leading partner in Southeast Asia. As the rotating President of the EU Council in the first 6 months of 2019, Romania actively supported and promoted the signing of the Vietnam-EU Free Trade Agreement (EVFTA) and was one of the first 3 EU member states to ratify the EVFTA.
Prime Minister Pham Minh Chinh meets with Romanian President Klaus Iohannis at the United Nations Headquarters in New York, September 2023. (Photo: VNA)
Economic and trade relations between Vietnam and Romania have developed well. Since 1990, the two sides have signed many documents creating a legal framework for cooperation in the new period. Vietnam's main export items are coffee, seafood, pepper, textiles, leather shoes, computer components, etc. Since 2010, Romania has been ranked among Vietnam's major seafood export markets (about 12,000 tons/year).
Regarding investment, by the end of 2022, Romania had 5 valid direct investment projects in Vietnam with a total registered investment capital of 1.56 million USD, ranking 42nd among countries and territories investing in Vietnam.
Regarding education and training, since 1992, Romania has restarted granting scholarships to Vietnamese students. In 1995, the two countries signed an Agreement on cooperation in the fields of culture, science, education and sports, according to which Romania annually grants 20 undergraduate and postgraduate scholarships to Vietnam. Currently, the two sides have signed a new Education Program for the 2023-2027 period.
In the field of labor, there are currently about 4,000 Vietnamese workers in Romania working in the fields of construction, shipbuilding, garment, food processing, etc. The number of Vietnamese workers going to Romania is expected to continue to increase in the coming time because Romania needs labor. In December 2018, Vietnam and Romania signed a MOU on labor cooperation.
On the afternoon of November 15, 2023, in Hanoi, Prime Minister Pham Minh Chinh received Hungarian Minister of Justice Bence Tuzon on a working visit to Vietnam. (Photo: VNA)
The Vietnamese community in Romania mainly trades in garments at the Dragon Trade Center in the capital Bucharest. The community has organized the Vietnamese Association and the Vietnamese Business Association in Romania. The people are always united and turn towards the Fatherland.
Building on the good cooperation achievements that the two countries have achieved in recent times, the official visit to Romania by Prime Minister Pham Minh Chinh and his wife is of great significance in further deepening the traditional friendship and multifaceted cooperation between Vietnam and Romania, creating momentum to promote bilateral cooperation; and at the same time contributing to facilitating relations between Vietnam and the EU.
Implementation direction: BICH HANH - TRUONG SON Content: MINH HANG - NGUYEN HA Presented by: HOANG HA Document: Ministry of Foreign Affairs of VietnamNhandan.vn
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