Vietnam persists to become a top investment destination

(VOVWORLD) - Prime Minister Pham Minh Chinh has concluded a trip from January 16-23 to attend the 54th Annual Meeting of the World Economic Forum in Davos, Switzerland, and pay official visits to Hungary and Romania. In his addresses, the Vietnamese Prime Minister conveyed a clear message of Vietnam's dynamic development, innovation, and investment attraction for global corporations. His overseas trip promoted Vietnam’s new potential, position, and prestige.

At WEF 2024, Prime Minister Chinh chaired, attended or spoke at multiple events including a seminar on development cooperation in semiconductors, artificial intelligence, and automobiles, WEF's Country Strategic Dialogue on Vietnam, a policy dialogue called "Vietnam: orienting a global vision", a seminar on promoting new growth drivers in Vietnam, and a discussion on promoting global cooperation in ASEAN.

Vietnam persists in policies to facilitate foreign investors
At the talks, Prime Minister Chinh identified fundamental factors in Vietnam  becoming a safe, healthy, sustainable investment destination. Vietnam pursues an independent, self-reliant, and proactive economy and deep, substantive, and effective international economic integration.

Vietnam has established diplomatic relations with more than 190 countries, formed a strategic partnership or comprehensive strategic partnership with the 5 permanent members of the UN Security Council and many members of the G20, and signed 16 Free Trade Agreements with 60 countries.

In the coming time, Vietnam, he said, will continue to promote three strategic breakthroughs: building strategic infrastructure to reduce logistics costs and increase product competitiveness, training high-quality human resources, and improving institutions to facilitate and reduce costs for businesses. Vietnam will also adopt incentives for priority areas.

PM Pham Minh Chinh said: “Digital transformation, including artificial intelligence, and green transition are two priority issues and global trends. Digital transformation is an objective task and our top priority. To do this, we must achieve three strategic breakthroughs. First is an institutional breakthrough. Second is infrastructure, particularly IT infrastructure. Third is human resources. Even though there is now AI, humans still make the decision, so we must focus on training human resources, especially high-quality human resources.”

International community praises Vietnam as one of the most attractive destinations
At the forums, corporate representatives spoke of Vietnam's strategic development vision and expressed an interest in investment and business opportunities in Vietnam. They promised to send delegations to Vietnam to explore cooperation and investment opportunities.

Pascal Gerken, honorary chairman of the Young Presidents’ Organization (YPO), and other delegates applauded Vietnam’s socio-economic development in 2023. Despite global headwinds, Vietnam achieved 5.05% economic growth, controlled inflation, and attracted a large amount of foreign direct investment.

US President Joe Biden and Chinese Party General Secretary and President Xi Jinping visited Vietnam. Mr. Gerken said Vietnam has become one of the most attractive destinations in the world and will certainly play a more important role in the global supply chain.

Thomas Serva, CEO of France’s Baracoda Group, said Vietnam is one of the most attractive destinations thanks to its abundant, high-quality human resources and good relationship with France. He said his firm wants to build innovation centers and develop artificial intelligence in Vietnam.

Prime Minister Chinh showed international friends that Vietnam has good economic plans and orientations, focused on sustainable growth and digitalization across all industries from agri-food and manufacturing to digital services.

At bilateral meetings with WEF leaders and heads of countries, and meetings with leaders of the world's leading corporations in the fields of technology, e-commerce, finance, and tourism, Prime Minister Chinh emphasized that Vietnam will create favorable conditions for foreign investors to do business in Vietnam.

Deputy Minister of Foreign Affairs Nguyen Minh Hang said: “The Prime Minister's participation at forums and his assessments of Vietnam’s development vision, viewpoints, and proposals to promote global growth and resolve global challenges, combined with the practical experience of Vietnam and ASEAN, demonstrate Vietnam's responsible contribution to global peace, development, and other issues. It has further affirmed and enhanced Vietnam's reputation and position in the international arena, especially with the global business community.”

Prime Minister Pham Minh Chinh's successful trip has helped international friends better understand cooperation opportunities in Vietnam and promoted Vietnam's international role and position.

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Prime Minister Pham Minh Chinh speaks at WEF's Country Strategic Dialogue on Vietnam. (photo: VNA)
Deputy Minister of Foreign Affairs Nguyen Minh Hang (photo: VNA)


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