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Vietnam stands before huge opportunities for prosperity: WEF

A right vision for development, strong determination for digitalization and green transition, as well as the potential of the Vietnamese people, are factors to take the country forward.

Vietnam is standing before huge opportunities for prosperity and becomes a reliable partner of the global community in shaping the future.

 Prime Minister Pham Minh Chinh and WEF's CEO Klaus Schwab during the phone talk. Photos: VGP

CEO and Founder of the World Economic Forum Klaus Schwab gave the remarks during a phone talk with Vietnam’s Prime Minister Pham Minh Chinh on April 13.

According to Schwab, the right vision for development, strong determination for digitalization and green transition, as well as the potential of the Vietnamese people, are factors to take the country forward.

Vietnam, therefore, has become a favorite destination for multinationals and is highly regarded by WEF member countries, he added.

Schwab expressed his strong impression of Vietnam’s achievements in the Covid-19 fight and economic recovery in 2021, noting the positive results in this regard prove the country’s right decision in shifting the pandemic response strategy to safe living with Covid-19.

He said the WEF is committed to accompanying Vietnam in realizing its socio-economic development targets and proposed the two sides sign a partnership agreement to bolster cooperation in the coming time.

Schwab added the WEF is preparing for its annual WEF Davos in-person meeting on May 22-26 and invited Prime Minister Chinh to attend the event.

 Overview of the phone talk. 

For his part, Prime Minister Chinh called for more substantial cooperation between Vietnam and the WEF.

Chinh said the right mindset in policymaking is a key factor to drive growth, as such, Vietnam would continue to foster the three pillars, including a socialist democracy, a socialist rule of law, and a socialist-oriented economy.

“Vietnam would not sacrifice social progress and equality for purely economic growth,” Chinh said.

The prime minister added Vietnam is focusing on promoting an independent and self-sufficient economy while pushing for greater global integration for sustainable development.

He asked for WEF’s assistance in policy consultation and revising the growth model towards greater sustainability and digitalization.

In addition, the WEF could serve as the bridge for Vietnam to partner with credible investment funds, and attract capital inflows from its members into priority fields, including hi-tech industries, energy transition, and infrastructure development.

During the talks, both sides also discussed the importance of multilateralism and international cooperation amid growing global uncertainties, for which a global approach is required to address major challenges including the pandemic, climate change, food security, and disruption to global supply chains.