Three "arrows" that help economic diplomacy become a powerful driving force

The information was given at the Conference on implementing economic diplomacy (Economic Diplomacy) in 2024 to serve socio-economic development chaired by Foreign Minister Bui Thanh Son.

Deputy Minister Nguyen Minh Hang, Head of the Steering Committee for Economic Diplomacy, chaired the discussion. Also attending were leaders of the Ministry of Foreign Affairs, heads of units within the Ministry, heads of Vietnamese representative agencies abroad for the 2024-2027 term, and 94 Vietnamese representative agencies abroad.

Positive assessment for 2024

In his orientation speech, Minister Bui Thanh Son said that the conference was organized to implement the Government's requirements, the Prime Minister 's instructions and the Action Program of the 32nd Diplomatic Conference on Economic Diplomacy for Development. From there, the tasks that need to be implemented in 2024 will be identified and solutions will be discussed to improve the effectiveness of implementing Economic Diplomacy. The conference will focus on discussing the tasks that need to be done in 2024, especially breakthrough ideas that make practical contributions to socio-economic development.

The conference took place in both in-person and online formats. Photo: BNG

According to Minister Bui Thanh Son, the world and regional situation in 2024 will continue to be complicated, with new fluctuations likely to arise. The world economy in 2024 is forecast to be more stable but will continue to grow slowly, unevenly and with many risks and challenges.

Domestically, the socio-economic situation in January continued the positive recovery trend of the last months of 2023 and achieved important results, especially in terms of export and investment. International organizations, enterprises, and foreign investors continued to positively assess and have high expectations for the socio-economic development situation and prospects of Vietnam. However, the domestic economy still faces many challenges, the competitiveness and resilience of the economy are still limited, and the demand of key import and export markets still faces many difficulties...

Promoting important and historic achievements, creating new opportunities for development and enhancing the country's prestige and position achieved in 2023, foreign affairs and economic diplomacy continue to contribute to the country's overall achievements.

In January alone, Vietnam successfully and effectively organized the Prime Minister's working trip to attend the WEF Davos 2024 Conference and official visits to Hungary and Romania; welcomed 5 high-level delegations (the delegations of the Presidents of Germany, Indonesia, the Philippines, the Prime Minister of Laos, and the Chairman of the Bulgarian National Assembly), with many important agreements signed, highly appreciated by senior leaders.

At the conference, Ms. Doan Phuong Lan, Director of the Department of Economic Synthesis, Deputy Head of the Steering Committee for Economic Diplomacy presented a report on key economic diplomacy tasks in 2024 and solutions to improve the effectiveness of implementing economic diplomacy.

Heads of Vietnamese representative agencies abroad and heads of units also focused on discussing three contents: Promoting new growth drivers to serve three strategic breakthroughs; Renewing traditional growth drivers; Improving the effectiveness of economic diplomacy with a focus on reviewing international agreements and commitments.

Delegates identified the contents, focuses and driving forces that need to be focused on promoting from raising the level and upgrading relations with major partners, key partners, by field in the past time; Proposing and agreeing on key economic diplomacy tasks in 2024 on the basis of closely following the country's development needs, local situation and directions of the Government, Prime Minister and the 32nd Diplomatic Conference.

Delegates also discussed solutions to improve the effectiveness of economic diplomacy, including the key solution in 2024, which is to focus on urging and promoting agreements with partners, especially in new fields such as semiconductors, high technology, innovation, green transformation, etc.

In his closing speech at the conference, Foreign Minister Bui Thanh Son affirmed that 2024 is a pivotal year, of decisive significance for the successful implementation of the Socio-Economic Development Strategy for the 2021-2025 period, creating an important foundation towards the 14th National Party Congress.

Welcoming and appreciating the opinions of heads of representative agencies and heads of units in the Ministry, the Minister requested heads of units and heads of representative agencies to closely follow the Government's socio-economic directions and management and practical domestic needs of sectors, fields, localities and enterprises.

From there, focus on mobilizing resources of the entire unit and representative agency to serve 3 strategic breakthroughs; renew traditional growth drivers and effectively exploit new growth drivers to make Economic Diplomacy truly become a strong driving force for rapid and sustainable development of the country.

Three key task groups

Minister Bui Thanh Son emphasized three key groups of tasks of economic diplomacy in 2024:

First , strengthen traditional growth drivers and effectively exploit new growth drivers.

Second, enhance efficiency and innovation in research, consulting, and forecasting.

Third, improve the effectiveness of economic diplomacy and the coordinating role of the Economic Diplomacy Steering Committee.

To complete the above key tasks, the Minister proposed to focus on the following contents: Focus on promoting traditional growth drivers to expand export opportunities and attract high-quality investment; Review, urge, and implement international commitments and agreements in foreign affairs activities; Proactively research, advise, evaluate and forecast the international economic situation; Bring economic diplomacy activities closely linked with the development of localities and enterprises; Continue to effectively organize the dissemination, review, urge the implementation, summarize and summarize the directive documents of the Party, the Government, and the Ministry on economic diplomacy...

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