Vietnam’s economic diplomacy to embody bamboo spirit: PM

Vietnam should focus on diplomatic initiatives that are both pragmatic and effective while addressing the importance of sincerity, respect, and trustworthiness – reflecting the spirit of bamboo diplomacy.

Prime Minister Pham Minh Chinh at the conference. Photos: Nhat Bac

Prime Minister Pham Minh Chinh stressed this view at the plenary session on economic diplomacy in support of national development at the 32nd National Foreign Affairs Conference held on December 21.

"The economy is a crucial pillar that should direct diplomatic diplomatic activities,” said Chinh, adding that policies, organizations, and perspectives must be adapted to evolving situations.

On this occasion, Chinh commended the diplomatic sector for having a good understanding of the economic landscapes of countries and regions and for providing valuable insights to the Party and State. Furthermore, he highlighted the sector's skillful combination of national strength with contemporary forces, leveraging internal resources such as people, nature, culture, history, and unity while making strategic use of external resources such as capital, technology, modern management, and human capital.

Diplomats must be the key to drawing foreign resources for socio-economic development, the Premier said, adding that he took advantage of the meeting with Jensen Huang, Chairman and CEO of US$1.2 trillion chip maker NVIDIA Group, to urge NVIDIA to work with Vietnam to implement the national semiconductor strategy and develop the semiconductor industry at all stages.

Meanwhile, Chinh underscored the diplomatic sector's contributions to addressing global challenges, including pandemics, climate change, food security, and energy security. Diplomacy, according to the Prime Minister, plays a crucial role in creating a peaceful environment and fostering cooperative development to mobilize resources for national construction.

Reflecting on visits to Vietnam by key figures such as US President Joe Biden and President of China Xi Jinping, the Prime Minister  highlighted  “how diplomacy has built political trust, deepened relationships, enhanced economic efficiency, and expanded comprehensive cooperation in various fields."

Additionally, Chinh emphasized the significance of advancing cultural diplomacy and leveraging the nation's inherent strengths by integrating culture with economic development.

Vietnam's election to the World Heritage Committee and the global recognition of numerous heritage sites have significantly enhanced the country's prestige, he said.

“Cultural diplomacy plays a pivotal role in complementing other diplomatic pillars, particularly economic diplomacy,” Chinh said.

Another key aspect of foreign policy highlighted by the Prime Minister is the promotion of people-to-people exchanges and the fostering of economic ties between businesses, individuals, and localities, with an emphasis on putting businesses and people at the center of its services.

He reiterated Vietnam's commitment to facilitating people-to-people exchanges by opening electronic visas for all countries and territories.

Addressing the importance of inter-local cooperation, the Prime Minister cited the successful cooperation between Vietnamese provinces and cities with Japan, which resulted in more than in over 500 events in 2023 alone to mark the 50th anniversary of diplomatic relations between the two countries.

Reflecting on Vietnam's journey, the Prime Minister shared that at the inception of Renewal (Doi Moi), the size of the economy was only  $4 billion. Today,  at $400 billion, the national economy ranks 40th  in the world, with a thriving social infrastructure. “Vietnam's remarkable resilience in overcoming the aftermath of war and its transformation from adversity has made it a recovery model,” he continued.

Active policy response required

However, the Prime Minister acknowledged that challenges remain, noting that the country, with its modestly sized economy, high degree of openness, and limited resilience, is still in transition.

Overview of the conference.

While advocating for independence and self-reliance, he stressed the importance of maintaining a positive and proactive approach to integration without compromising justice, social progress, people's well-being, and the environment for the sake of simplistic growth.

"At international gatherings, leaders from various countries have consistently expressed their admiration for Vietnam's skillful diplomatic policies, successfully managing inflation and fostering growth amid a challenging global economy," the Prime Minister said. He praised the diplomatic sector's contribution to the country's achievements over the past three years but expressed dissatisfaction with the status quo and urged continued efforts for improvement.

The Prime Minister identified five shortcomings in economic diplomacy, including delays in obtaining timely information in certain areas and a still passive policy response. He noted that the implementation of economic diplomacy lacks systematic organization and appears fragmented without a clear focus.

Emphasizing the need for adaptability in economic diplomacy, akin to vaccine diplomacy, Chinh highlighted the necessity for transformative breakthroughs, acknowledging that the current level of innovation in economic diplomacy is not yet sufficient.

Addressing the need for close and situation-appropriate institutions and policy mechanisms for collaboration with other countries, the Prime Minister observed that while many economic agreements have been signed, their implementation remains modest, necessitating a comprehensive plan.

“Some parties express concern that the country's administrative procedures are cumbersome and challenging to resolve,” he noted.

In implementing economic diplomacy, Chinh stressed the importance of prioritizing national interests, fostering a harmonization of benefits, and sharing risks. He called for faster, more timely, and accurate policy advice and responses in the face of a   rapidly changing global situation.

While acknowledging the abundance of information available, the Prime Minister urged the identification of essential information required by people, businesses, the Party, and the State. Additionally, he highlighted the imperative of building a team of diplomats with political sensitivity, economic acumen, in-depth knowledge of science and technology, professional expertise, legal knowledge, as well as a combination of heart and vision.

During the conference's opening speech, Minister of Foreign Affairs Bui Thanh Son underscored the commitment to promoting the distinctive characteristics of "Vietnamese bamboo diplomacy." Foreign affairs, particularly economic diplomacy, were extensively and systematically deployed across the pillars of international cooperation, unfolding energetically on both bilateral and multilateral fronts across continents, Son noted.

Echoing the sentiments expressed by General Secretary Nguyen Phu Trong during the opening plenary session, Son highlighted that foreign affairs efforts in the past three years had yielded "many important and historically significant results and achievements." These accomplishments were deemed a remarkable highlight within the overall results and achievements of the nation in recent years.

The Minister emphasized that the successes in economic diplomacy were the tangible outcomes of collective wisdom and concerted efforts from various sectors, localities, and businesses. Furthermore, these achievements were attributed to the collaborative contributions of the entire political system and economy, including notable inputs from the foreign sector.