Prime Minister: The world is in turmoil, but Vietnam still perseveres with its policies to become a top destination.
Báo Tuổi Trẻ•18/01/2024
The Prime Minister hopes that investors will continue to come to Vietnam, bringing capital, modern technology... The Vietnamese Government always protects the legitimate rights and interests of investors.
Prime Minister Pham Minh Chinh chaired the discussion "Vietnam - ASEAN's leading destination for sustainable investment" on January 17 (local time) in Davos, Switzerland - Photo: baochinhphu.vn
On the morning of January 17 local time, in Davos, Switzerland, within the framework of his working trip to attend the World Economic Forum (WEF) Davos 2024, Prime Minister Pham Minh Chinh chaired the discussion "Vietnam - ASEAN's leading destination for sustainable investment". The discussion was jointly organized by the Ministry of Planning and Investment, the Vietnamese Permanent Mission in Geneva, the Young Global Leaders Organization (YPO) and the VinaCapital Foundation.
Vietnam is an attractive destination
Regarding the economic situation, Mr. Don Lam - General Director of VinaCapital Group - assessed that in 2023, Vietnam's GDP grew impressively by 5.05%. Vietnam also controlled inflation, implemented appropriate fiscal measures, promoted investment in infrastructure, and attracted high levels of FDI. Regarding foreign affairs, in 2023, Vietnam was the only country to welcome both the US President and the General Secretary and President of China. According to Mr. Don Lam, Vietnam has created a safe and sustainable environment, ensuring that the country becomes one of the most attractive destinations not only in the region but also in the world. Vietnam will certainly play a more important role in the global supply chain.
Dr. Philipp Rösler (middle), Honorary Consul of Vietnam in Switzerland, coordinated the dialogue between investors and YPO representatives, sharing investment plans - Photo: baochinhphu.vn
Under the coordination of Dr. Philipp Rosler - former German Vice Chancellor, former Executive Director of WEF, currently Honorary Consul of Vietnam in Switzerland, investors and YPO representatives assessed the investment and business environment in Vietnam, had open, sincere and frank dialogue, found new opportunities and promoted investment cooperation activities, and shared investment plans for the coming time. Mr. Thomas Serva - CEO of Baracoda Group (France) - said that Vietnam is one of the most attractive destinations, with abundant, high-quality human resources, and good relations between Vietnam and France. This enterprise wishes to participate in building innovation centers and developing artificial intelligence in Vietnam.
The greatest balance in attracting investment
Prime Minister Pham Minh Chinh thanked the delegates for their attention to Vietnam and shared some fundamental factors for Vietnam to become a safe, healthy and sustainable investment destination. The Prime Minister outlined Vietnam's great and valuable lessons, including: steadfastly pursuing the path of national independence and socialism; the people are the ones who make history; promoting the strength of great national unity and international solidarity; combining national strength with the strength of the times, creatively applying Marxism-Leninism, Ho Chi Minh Thought and cultural and historical traditions in accordance with the current conditions and circumstances of the country and the world; promoting the leadership role of the Communist Party of Vietnam.
The Prime Minister affirmed that the Vietnamese Government always protects the legal and legitimate rights and interests of investors - Photo: baochinhphu.vn
Regarding major orientations, the Prime Minister said that Vietnam is building a socialist democracy, a socialist rule-of-law state of the people, by the people, for the people, and building a socialist-oriented market economy.
Vietnam is a developing country, the economy is in transition, the economic scale is still modest, the resilience is still limited but the openness is large, a small external fluctuation can have a big impact on the internal, so the economy needs state regulation when necessary. Vietnam identifies people as the center, the subject, the driving force, the most important resource and the goal of development; not sacrificing progress, social justice, social security, the environment to pursue pure economic growth. At the same time, building an advanced culture, imbued with national identity. Vietnam firmly adheres to the foreign policy of independence, self-reliance, peace, friendship, cooperation and development, diversification, multilateralization, proactive and active integration into the international community comprehensively, deeply and effectively, being a friend, a reliable partner, an active and responsible member of the international community; persistently pursuing the "four no's" defense policy. Vietnam develops an independent, self-reliant economy, actively and proactively integrates 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. To date, Vietnam has established diplomatic relations with more than 190 countries, including comprehensive strategic partnerships or strategic partnerships with all 5 permanent members of the United Nations Security Council and many G20 countries; signed 16 FTAs with more than 60 countries.
Prime Minister and delegates attending the seminar - Photo: baochinhphu.vn
The Prime Minister said that Vietnam's 10-year socio-economic development strategy for 2021-2030 clearly defined: "...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 average income by 2030 and a developed country with high income by 2045". In the coming time, Vietnam will continue to promote three strategic breakthroughs in infrastructure, institutions and human resources. Vietnam has priority mechanisms and policies suitable for the fields of digital transformation, science and technology, artificial intelligence, green transformation, etc. The Prime Minister said that in the recent difficult context, Vietnam continued to maintain macroeconomic stability, control inflation, promote growth, ensure major balances, public debt, government debt, foreign debt, and deficit under control. Vietnam has implemented appropriate monetary and exchange rate policies, and in fact, the Vietnamese currency has remained relatively stable compared to other currencies. 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 open, infrastructure smooth, and governance 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 Prime Minister Pham Minh Chinh. According to him, if this balance and harmony cannot be maintained, the cooperative structure will collapse, unable to ensure sustainable, long-term, and effective cooperation and investment.
Prime Minister makes commitments to investors
The Prime Minister hopes that investors will continue to come to Vietnam, bringing capital, modern technology, suggestions for improving institutions, training human resources, and improving modern management capacity. The Government, ministries, and sectors always listen, are ready to dialogue, share, negotiate, "promises must be done, commitments must be implemented" and also hope that investors will 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," said the Prime Minister, affirming that the Vietnamese Government always protects the legitimate rights and interests of investors.
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