Prime Minister: Persistently pursue open policies and share when there are risks

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On the morning of January 17 (local time), in Davos, Switzerland, Prime Minister Pham Minh Chinh chaired the discussion "Vietnam - ASEAN's leading destination for sustainable investment".

13.5 million billion VND deposited in banks in 2023, the highest ever

Speaking at the seminar, the Prime Minister said that Vietnam is a developing country, the economy is in transition, the economic scale is still modest, resilience is limited but openness is large, a small external fluctuation can have a big impact on the internal, therefore the economy needs State regulation when necessary.

Prime Minister Pham Minh Chinh meets delegates at the seminar. Photo: Nhat Bac

Vietnam develops an independent, self-reliant economy, actively and proactively integrating deeply, substantially and effectively into the international economy; taking internal resources as fundamental, strategic, long-term and decisive; external resources as important, breakthrough and regular.

Vietnam's 10-year socio-economic development strategy for 2021-2030 clearly identifies "mobilizing all resources, developing rapidly and sustainably on the basis of science, technology, innovation and digital transformation, striving to become a developing country with modern industry and high middle income by 2030 and a developed country with high income by 2045".

The Prime Minister said that in the recent difficult context, Vietnam continues to maintain macroeconomic stability, control inflation, promote growth, ensure major balances, public debt, government debt, foreign debt, and control overspending.

Vietnam has implemented appropriate monetary and exchange rate policies, and in fact, the Vietnamese currency has remained relatively stable compared to other currencies. Also in 2023, people and economic organizations deposited about 13.5 million billion VND in banks, the highest ever, showing improved income and people's confidence.

"Policies must be transparent, infrastructure must be smooth, and governance must be smart. Even if the world is in turmoil, we will persist with these policies, in the spirit of harmonizing the interests of the State, people, businesses, investors, and sharing when there are risks. This is the greatest balance," said the Prime Minister.

The Prime Minister hopes that investors will continue to come to Vietnam, bringing capital and modern technology. Photo: Nhat Bac

According to the Prime Minister, if this balance and harmony cannot be maintained, the cooperation structure will collapse, and it will be impossible to ensure sustainable, long-term, and effective cooperation and investment.

The Prime Minister hopes that investors will continue to come to Vietnam, bringing capital and modern technology, contributing to institutional improvement, human resource training, and improving modern management capacity.

The Government, ministries and sectors always listen, are ready to dialogue, share, negotiate, "promise to do, commit to do" and also expect investors to follow this spirit.

"Even with loss-making cooperation projects, we still respect the committed agreements, but persistently call on relevant parties to renegotiate and restructure the project to find a solution," the Prime Minister said, affirming that the Vietnamese Government always protects the legitimate rights and interests of investors.

Delegates assessed that in 2023, Vietnam's GDP will grow by 5.05%, which is an impressive figure. Vietnam has also controlled inflation, implemented appropriate fiscal measures, boosted investment in infrastructure, and attracted high levels of FDI. Photo: Nhat Bac

At the seminar, moderated by Dr. Philipp Rösler, former German Deputy Prime Minister, former WEF Executive Director, currently Honorary Consul of Vietnam in Switzerland, investors gave their assessment of the business investment environment in Vietnam, with open, sincere, and frank dialogue...

Delegates are eager to explore new investment opportunities in Vietnam, learn about regulations and policies related to import and export, investment attraction, infrastructure development, innovation promotion, artificial intelligence development, sustainable energy transition, monetary policy, exchange rate management, etc.

Elevating Vietnam - Switzerland relations

On the morning of January 17, Prime Minister Pham Minh Chinh met with Swiss President Viola Amherd.

The two sides expressed their delight at the strong developments in the friendship and cooperation between the two countries, especially in economics, trade, development assistance, culture and education; the leaders of the two countries regularly maintain contact and exchange delegations, contributing to strengthening political trust between the two countries.

The Swiss President highly appreciated Vietnam's remarkable socio-economic achievements in recent years, and Vietnam is a priority and important economic partner in Southeast Asia. The Swiss President pledged to continue providing development assistance to Vietnam, with more than 40 projects being implemented in various fields, including sharing experiences in sustainable development, education, business, and innovation.

Prime Minister Pham Minh Chinh and Swiss President Viola Amherd. Photo: Nhat Bac

Prime Minister Pham Minh Chinh affirmed that the achievements of cooperation between the two countries over the past 50 years are proof of the effective cooperation between the two countries; and are the basis for the two sides to continue to elevate the relationship in the coming time.

The Prime Minister suggested that the two sides coordinate closely to prepare well for the high-level visit between the two countries, thereby reviewing and evaluating the results of cooperation and proposing measures to further promote it.

The Prime Minister thanked the Swiss Government for providing ODA, contributing to supporting Vietnam in achieving many socio-economic development achievements; wished to have more Swiss enterprises invest in Vietnam; strengthen cooperation in science and technology, innovation; and enhance cooperation in national security and defense.

The two leaders also agreed to have a flexible approach in negotiating the Vietnam-European Free Trade Association (EFTA) Free Trade Agreement and the bilateral Investment Protection Agreement to facilitate and ensure the interests of businesses and investors of the two countries.

Source: https://vietnamnet.vn/thu-tuong-kien-tri-chinh-sach-thong-thoang-chia-se-khi-co-rui-ro-2240709.html