“Vietnam and the World” Dialogue at WEF Annual Meeting 2019

Prime Minister Nguyen Xuan Phuc expressed optimism about Vietnam’s economic prospects at a January 24 dialogue themed “Vietnam and the World” as part of the ongoing WEF Annual Meeting 2019 in Davos, Switzerland.

Prime Minister Nguyen Xuan Phuc and WEF President Borge Brende (L) at the “Vietnam and the World” dialogue in Davos, Switzerland (Photo: VNA)

This is the first time the WEF has held a particular session on Vietnam in the presence of President of the World Economic Forum (WEF) Borge Brende.

In his remarks, PM Phuc expressed his confidence that Vietnam’s economy will continue to grow sustainably and inclusively while citing how the Vietnamese government is developing a National Strategy on Industry 4.0 with a particular focusing on measures to promote innovation and creativity and develop a vital and dynamic startup ecosystem. Vietnam is the first country in Southeast Asia to cooperate with the WEF to set up a Center for Industry 4.0, he noted.

Responding to WEF President Borge Brende’s question on how Vietnam will surprise the world in the next five years, PM Phuc said Vietnam will maintain its strong pace of development and considers investors’ success to be tantamount to its own. Vietnam pledges to protect legitimate rights of investors to encourage their greater investments in the country’s socio-economic development.

Vietnam will boost institutional reforms, refine the socialist-oriented market economy institutions in line with international practices and commitments which the country engages in, and promote its integration into the region and the world, he said, adding that the country will also improve the national economy’s resilience and fully tap tourism, agricultural and information technology advantages.

Phuc said despite numerous difficulties, Vietnam has certain advantages when becoming involved in Industry 4.0, including a young, dynamic and creative population and people’s aspiration to move forwards.

Regarding sustainable development requirements, the Vietnamese government leader affirmed Vietnam’s desire to simultaneously develop the economy, society and environment, noting that Vietnam will never exchange the environment for economic growth.

Opening the dialogue, the WEF President extolled the success of the WEF on ASEAN hosted by Vietnam in 2018, which gave important and meaningful messages to the region and the world.

He also underlined PM Phuc and the Vietnamese Government’s strong commitments and determination to promote production for deeper engagement in global supply chains.

The same day, PM Phuc had a working session with executives of some major IT groups, during which he pledged sustained efforts to improve the business climate and step up closer coordination with the business community in a bid to remove barriers to innovation.

VOV