Full text of the Prime Minister's speech at the Future Investment Initiative Conference

The Prime Minister affirmed that Vietnam wants the business-investor community to promote their role as pioneers leading development in the spirit of "Investing today, shaping tomorrow."

Prime Minister Pham Minh Chinh participates in discussions at the 8th Future Investment Initiative (FII8) High-level Meeting. (Photo: Duong Giang/VNA)

On October 30, in Riyadh, the capital of Saudi Arabia, Prime Minister Pham Minh Chinh delivered a speech at the 8th Future Investment Initiative Conference.

We would like to introduce the full text of Prime Minister Pham Minh Chinh's speech:

"Dear Leaders of countries, international organizations and business community!

I am delighted to join you at the 8th Future Investment Initiative (FII 8) - dubbed the “Davos in the desert.”

I highly appreciate the theme “Limitless Horizons: Investing Today, Shaping Tomorrow.” This is a good opportunity for us to exchange, share, and propose investment cooperation initiatives, overcoming all limits to move towards a sustainable and prosperous future.

Dear leaders and ladies!

Today's world tends to polarize political order; diversify product markets; green production and business; digitize all human and social activities; affecting every country, region, field, and every citizen.

That context requires all of us, all relevant subjects, to join hands to solve it with a comprehensive, all-people, all-inclusive and global approach.

We are all aware of the need to invest effectively, responsibly, and with a future orientation, for the sustainable, inclusive, comprehensive, and prosperous development of nations and peoples, for a happier and better life for all people. In particular, it is especially important not to politicize development investment; everywhere we need to focus on encouraging all investments for development, especially investments in science and technology, innovation, improving the quality of human resources, digital transformation, green transformation, circular economy, and responding to climate change to effectively promote the potentials and strengths of each nation, people, and each subject to rise together, towards "Endless Horizons."

Dear leaders and ladies!

In the context of many difficulties from both inside and outside, from a poor, backward agricultural country, severely devastated by 40 years of war, besieged and embargoed for 30 years, Vietnam has made tireless efforts, determinedly, persistently, and steadfastly implemented the policy of innovation, opening, integration and development of a socialist-oriented market economy, rising to be among the 34 largest economies in the world; the group of 20 leading economies in trade, signed 17 free trade agreements, opening markets with over 60 countries and territories.

To date, Vietnam has diplomatic relations with 194 countries, including Comprehensive Strategic Partnerships with eight countries, Strategic Partnerships with 10 countries, and Comprehensive Partnerships with 14 countries; and is an active and responsible member of more than 70 regional and international organizations.

At this Conference, Vietnam hopes that partners, the business community, and investors will promote their role as pioneers in leading and orienting development in the spirit of "Investing today, orienting for tomorrow;" especially needing to accompany, support, help, and promote cooperation and investment in developing and poor countries, "leaving no one behind" in a better world.

Dear leaders and ladies!

Despite the geographical distance, Vietnam and the Middle East countries in general and Saudi Arabia in particular have long had a tradition of good friendship. In particular, in recent years, Middle Eastern countries have placed Vietnam in a priority position in their “Eastern policy”.

This is an important foundation for the two sides to exploit each other's potentials and strengths, complement each other, and bring the relationship to a new level, more comprehensive, deeper, more effective, and more sustainable in terms of politics, economics, and investment.

Recently, Vietnam and Saudi Arabia jointly organized many activities to celebrate the 25th anniversary of establishing diplomatic relations (October 21, 1999).

Our two countries have many similarities and strengths that can support and complement each other; especially, both sides value time and intelligence, promote the development of science and technology, innovation, digital transformation, green transformation, circular economy, and climate change response...

With favorable geographical location, the two sides need to coordinate closely, together becoming a bridge to promote cooperation between ASEAN and the Middle East.

Dear leaders and ladies!

Vietnam hopes that partners, business communities, investors in Saudi Arabia, the Middle East and the world will continue to promote investment and business activities in Vietnam and with Vietnamese partners, especially in areas where you have strengths and Vietnam has needs such as: Digital transformation, Artificial Intelligence, cloud computing, Internet of Things, renewable energy, smart cities, smart infrastructure, smart governance...

Vietnam has always maintained its policy of increasing the attraction of all resources from within and outside the country, especially public-private cooperation, creating favorable conditions and ensuring the legitimate rights and interests of investors.

Vietnam always promotes strategic institutional breakthroughs, creates a favorable legal environment, a transparent and highly competitive investment and business environment in the region and globally; constantly cuts and simplifies administrative procedures, prioritizes emerging industries and fields, and removes difficulties for investment and business.

Vietnam is focusing on investing in developing a synchronous and modern strategic infrastructure system, especially transport and logistics infrastructure to reduce costs and time, increase product competitiveness, and healthcare and education infrastructure to ensure investor welfare.

Vietnam always pays great attention to training human resources, especially high-quality human resources, associated with science and technology development and innovation to contribute to increasing labor productivity and improving investment efficiency.

At the same time, Vietnam invests in consolidating and enhancing its national defense and security potential, maintaining socio-political stability, firmly protecting independence and sovereignty, creating a solid foundation to ensure security, safety and preserve a peaceful, stable, long-term, and favorable environment for businesses and investors.

Dear leaders and ladies!

Saudi Arabia has a proverb: “One hand alone makes no sound.” Vietnam has Ho Chi Minh’s ideology: “Unity, unity, great unity – Success, success, great success.”

We hope and believe that businesses and investors from Saudi Arabia, Vietnam in particular, the Middle East and the world in general, will join together, promote the spirit of “tomorrow starts today”, strengthen investment cooperation with each other, and together move towards “Endless Horizons”, for a world of safe, sustainable and prosperous development.

Wish the conference great success!

Wishing you all health, happiness and success!

Thank you very much!

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