WEF ASEAN 2018: Opportunity to raise Vietnam’s prestige

(VOVWORLD) - The World Economic Forum (WEF) on ASEAN 2018 officially opened in Hanoi on Wednesday under the theme “ASEAN 4.0: Entrepreneurship and the 4th Industrial Revolution”. By hosting the event, Vietnam demonstrates its multilateral foreign policy and its dynamism in international integration and shaping the regional and global economy.
WEF ASEAN 2018: Opportunity to raise Vietnam’s prestige - ảnh 1The World Economic Forum on ASEAN 2018 officially opens in Hanoi on September 12, 2018 

Effective cooperation between Vietnam and WEF

Southeast Asian countries including Vietnam have actively participated in WEF events. In January 2017 in Davos, Vietnam was the first country to sign a cooperative agreement with the WEF. The agreement “Developing self-reliant Vietnamese economy” covers economics, socialization, cross-border trade and investment, infrastructure, production, agriculture, food security, education, and gender equality.

Amid major opportunities and challenges created by the 4th industrial revolution, Vietnam is seeking appropriate management models and momentum for growth. Hosting the WEF-ASEAN 2018 event gives Vietnam opportunities to promote innovation, the digital economy, training and job generation, narrow development gaps, and further contribute to the development of the ASEAN Community.

Vietnam’s attraction and foreign investors’ confidence

The forum’s 60 discussions will focus on promoting initiatives, potential, creativity, and dynamism of entrepreneurs and the public. Director of the WEF for the Asia Pacific region Justin Wood praised Vietnam’s dynamism: “This is the second time 6that the WEF has held the summit here in Vietnam. The first time was back in 2010 in Ho Chi Minh City. I think over the past 8 years, Vietnam has seen a very impressive period of economic growth, that can be matched in the size and scale of the summit that we’re running this year compared to 8 years ago. It’s very strong in term of participation.”

WEF President Borge Brende said Vietnam’s economy has grown and is attracting global business leaders’ interests: “A lot of businesses see Vietnam’s cooperation as something more and more important. Although for the Vietnam, the turn around after the financial crisis we noted that Vietnam has a lot of economic challenges, the turn around is very impressive. We have seen through economic forum. Competitiveness of Vietnam has improved.”

By hosting WEF ASEAN 2018, Vietnam gains opportunities to introduce its business environment, strengthen cooperation, and attract more investment. The event helps Vietnam elevate its prestige and increase connectivity within ASEAN, to foster a united, dynamic, and self-reliant ASEAN in the 4th industrial revolution. Deputy Foreign Minister Doan Xuan Hung who has worked to advance Vietnam-WEF cooperation said: "We joined ASEAN later than other countries but we were the first to take advantage of the WEF. Hosting the forum reflects Vietnam’s commitment to working for the interest of the region. As Vietnam will be the ASEAN Chair in 2020, the country needs to show its dynamism and vision."

WEF ASEAN 2018 is Vietnam’s most important diplomatic event this year, creating a momentum for Vietnam’s greater international integration and prestige.