Prime Minister Phạm Minh Chính on Thursday required economic diplomacy to be effective, reliable, ensure the harmony of benefits with partners, and closely follow the actual needs of businesses and investors.

Delivering a speech at a plenary session of the 32nd National Diplomatic Conference in Hà Nội, he asked the diplomacy sector to build a strong team with bravery, capacity, initiative and creativity, and make worthy contributions to the cause of innovation, building and firmly protecting the nation.

Emphasising that the economy was an important pillar in diplomatic activities, the PM wanted economic diplomatic activities to follow the general trend of the world, promoting digital transformation, green and circular economy.

The sector should build a large database and smart system to serve international economic activities, as well as improve international cooperation.

Acquiring PM Chính’s instruction, Minister of Foreign Affairs Bùi Thanh Sơn emphasised that recently the world and the region had undergone complex changes with multidimensional impacts on Việt Nam’s socio-economic development.

In that context, closely following the instructions of the Politburo, the Party and State leaders, the diplomatic sector had overcome many difficulties and challenges.

Foreign affairs activities took place vibrantly across continents on both bilateral and multilateral levels, said Sơn.

In the past three years, Việt Nam successfully organised 45 visits of key leaders to neighbouring countries and strategic partner countries, and also welcomed nearly 50 visits by leaders of other countries to Việt Nam, including historic visits.

The country’s international position and reputation continued to be enhanced.

Relationships with many important partners had been raised to new heights.

The diplomatic sector, together with national defence and security, had maintained internal social order and safety, a peaceful and stable external environment, and protected the Fatherland, he said.

The international community considers Việt Nam a bright place for investment and business, opening up opportunities for the country to promote external resources for the nation’s construction and development, according to the ministry.

In the overall achievement of foreign affairs, economic diplomacy plays an important role.

Việt Nam has held nearly 200 high-level foreign affairs activities with economic cooperation as the focus in the past three years.

The activities closely followed the country’s orientation, achieved many important breakthrough results in market expansion, and created new growth motivation such as establishing digital partners and green partners.

The network of Free Trade Agreements (FTA) is expanded along with effective implementation of 16 signed FTAs.

The country took proactive, creative and decisive steps towards new economic links such as the Joint Energy Transition Partnership (JETP) and the Indo-Pacific Economic Framework (IPEF). They affirmed Việt Nam’s responsibility for the common concerns of the international community.

Ministries actively accompany, guide and support localities and businesses to improve foreign economic efficiency and international integration, especially in connecting partners, expanding exports, and attracting quality foreign direct investment.

Localities have signed 422 cooperation agreements with international partners in the past three years.

Increasing connection with compatriots abroad is better serving socio-economic development.

Promoting the network of Vietnamese representative agencies abroad, the Ministry of Foreign Affairs has closely coordinated with concerned ministries to support Vietnamese enterprises in accessing markets and doing business abroad, while protecting their legitimate rights and interests.

Việt Nam is now the 11th largest economy in Asia, in the group of the 40 largest economies in the world, and one of three countries attracting the most foreign investment in the Association of Southeast Asian Nations (ASEAN).

Viet Nam News