Economic diplomacy in the era of national growth

Member of the Party Central Committee, Deputy Prime Minister, Minister of Foreign Affairs Bui Thanh Son emphasized the role of economic diplomacy in achieving the 2030 goal: Vietnam is a developed country with modern industry, high average income and by 2045, becomes a developed country with high income.

Member of the Party Central Committee, Deputy Prime Minister, Minister of Foreign Affairs Bui Thanh Son. Photo: Hai Nguyen

Driving force for economic recovery and growth after COVID-19 Speaking to the press, Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son said that economic diplomacy has become a fundamental and central task of diplomacy and economic content has become a focus in foreign affairs activities at all levels and sectors with the motto of taking people, businesses and localities as the center of service. Economic diplomacy and foreign economic activities have truly created momentum for economic recovery and growth in the post-COVID-19 period to date. If we look back at the lessons of the previous countries, of the Asian "dragons and tigers", in the era of rising up, the focus of economic diplomacy is how to put the country in an optimal position in the world's main development trends and movements, thereby expanding development space and creating new opportunities for the country's strategic breakthroughs. Identifying and seizing opportunities from new trends shaping the world economy The world is facing many complex, unpredictable and hard-to-predict developments, but it also opens up many opportunities for countries to take advantage of new growth drivers such as green economy, digital economy, science and technology, etc. to make breakthroughs. In the country, with new positions and strengths after nearly 40 years of innovation and facing urgent requirements of the times, it can be said that this is a time of "convergence" to bring the country into a new era as General Secretary To Lam recently stated. According to Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son, to make good use of these opportunities, it is necessary to deeply realize that to enter the new era, economic diplomacy needs to continue to promote its role in serving businesses, people and localities in a more effective, deeper, more substantial spirit, with sharper and more creative thinking. To do that, on the one hand, economic diplomacy will have to continue to make the most of traditional growth drivers such as exports, investment, tourism, etc. Accordingly, it will maximize the benefits of existing trade and investment agreements, especially in untapped markets and sectors; open up new sources of investment and finance, especially resources from enterprises and large investment funds; resolve large backlog projects, thereby creating leverage to attract new projects; continue to review and urge the implementation of international agreement commitments, etc. On the other hand, to create breakthroughs, it is necessary to promote new growth drivers, breakthroughs in new sectors as Prime Minister Pham Minh Chinh has repeatedly emphasized and directed. Therefore, the focus of economic diplomacy in the past and in the future will be to identify and seize opportunities from new trends shaping the world economy such as digital transformation, green transformation, energy transformation; Establishing extensive cooperation with the world's innovation centers, including countries and businesses, in breakthrough areas such as high technology, semiconductors, artificial intelligence, quantum. Recent cooperation agreements with NVIDIA and digital technology corporations are an example; establishing a position in the emerging supply and production chains, turning Vietnam into a sustainable link with an increasingly high position; promoting in-depth, specialized diplomatic activities such as technology diplomacy, climate diplomacy, agricultural diplomacy, infrastructure diplomacy, digital economic diplomacy, etc.

Laodong.vn

Source: https://laodong.vn/thoi-su/ngoai-giao-kinh-te-trong-ky-nguyen-vuon-minh-cua-dan-toc-1444553.ldo