​Economic diplomacy serves national development

(VOVWORLD) - As the global economy is facing many difficulties and challenges, Vietnam insists on promoting economic diplomacy to deepen the relationship between Vietnam and its partners toward stability and sustainability. Upholding that spirit, the Steering Committee for Economic Diplomacy held a conference in Hanoi on Monday to continue effectively implementing Directive 15 of the Party Central Committee’s Secretariat on economic diplomacy.

​Economic diplomacy serves national development - ảnh 1Prime Minister Pham Minh Chinh speaks at a conference to launch the Government’s Action Program on economic diplomacy in March, 2023. (Photo: VGP)

Economic diplomacy, political diplomacy, and cultural diplomacy are the three pillars of a comprehensive and modern diplomacy, which closely interact with each other in implementing the foreign policy of the Vietnamese Party and State.

Vietnam's economic diplomacy is being carried out according to Directive 15 of the Party Central Committee’s Secretariat, which defines that "economic diplomacy is a fundamental and central task of Vietnam's diplomacy, an important driving force for rapid and sustainable development of the country”

Remarkable accomplishments 

Under the correct and prompt leadership of the Party and State, in 2022 and the first half of 2023, the diplomatic sector has shifted its priority from vaccine diplomacy to economic diplomacy for economic recovery and national development. Economic diplomacy has been enhanced to become a key task of the diplomatic sector and 94 Vietnamese overseas representative agencies.

The Ministry of Foreign Affairs has worked with other ministries, sectors, and localities to specify the orientation of the 13th National Party Congress on economic diplomacy to serve development, taking the people, localities, and businesses at the center.

In August 2022, the Ministry submitted to the Secretariat for promulgation of Directive 15 on economic diplomacy serving national development until 2030 and creating a new impetus forall levels to effectively implement this work.

Minister of Foreign Affairs Bui Thanh Son said, "We are determined to build an economic diplomacy for development centered on the people and businesses. Economic diplomacy can only be carried out effectively when there is support, close coordination, and active and proactive participation of localities, businesses, and especially Vietnamese representative offices abroad."

The Ministry of Foreign Affairs wishes to understand more deeply localities and businesses’ needs for development and global integration, in order to recommend measures and plans to develop economic diplomacy, he said.

Implementing the policy of the Party and the State, the diplomatic sector works with other sectors to continue deepening Vietnam's relations with other countries, especially economic, trade, and investment relations.

Economic cooperation becomes a central content of external activities at all levels. Of 70 major external activities last year and in the first half of this year, the Party, State, Government, and National Assembly leaders have closely directed and promoted economic contents. Overseas visits by Vietnamese key leaders and visits to Vietnam by foreign leaders have achieved specific and practical economic results. Foreign affairs have adhered to the motto of taking advantage of all opportunities and resources for national development.

The diplomatic sector has contributed to promoting global economic integration and linkage and quickly taking advantage of external resources as new driving forces for development, especially green financial sources for energy transformation and high-tech industries.

Major results include the political declaration made by theG7, Europe, and Vietnam on the "Justice Energy Transition Partnership" (JETP) with an initial investment of 15.5 billion USD; the Lego Group’s construction of the world's first carbon-neutral factory with an investment of 1.3 billion USD in Binh Duong; and Samsung’s inauguration of a 220 million USD R&D Center in Hanoi.

The Ministry of Foreign Affairs supports the effective implementation of 15 signed free trade agreements (FTAs) and makes recommendations for Vietnam to participate in international economic integration initiatives. With the orientation to take people, localities, and businesses as the center, the Ministry of Foreign Affairs has organized about 50 working groups with 25 localities and 70 activities to connect localities with partners, and supported the signing of more than 40 cooperation agreements.

Economic diplomacy orientations 

Directive 15 of the Party Central Committee’s Secretariat is an important guideline for economic diplomacy in the national new development strategy until 2030. Prime Minister Pham Minh Chinh directed a conference on economic diplomacy serving national development in September, 2022 and a conference to review vaccine diplomacy and lessons in order to promote economic diplomacy in the new period in November, 2022. 

Mr. Chinh told a conference to launch the Government’s Action Program on economic diplomacy in March, 2023, "I believe that with joint effort and consensus of the diplomatic sector, overseas representative agencies, departments, ministries, localities and enterprises to carry out the diplomatic motto of 'emotion, sincerity, trustfulness, equality, respect, effectivity, and mutual development'".

"We will continue to achieve new and more important achievements, contributing more to national industrialization and modernization, building an independent and self-reliant economy, and effectively integrating into the world. All for national prosperity and people’s happy and sufficient life!" he said.

Under the close direction of the Prime Minister, the Ministry of Foreign Affairs will continue to carry out future economic diplomacy with the motto of being steadfast and consistent on the external policy of independence and self-reliance, multilateralization, and diversification, and Vietnam is a friend, a reliable and responsible partner of the international community.

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