'Vietnam persists with open policies to become a top destination'

Prime Minister Pham Minh Chinh said Vietnam is persistent with open policies, smooth infrastructure, and smart governance to attract investment, despite global fluctuations.

This message was stated by Prime Minister Pham Minh Chinh at the seminar Vietnam - ASEAN's leading destination for sustainable investment, during his attendance at the World Economic Forum (WEF) Davos 2024, Switzerland, on January 17.

The Prime Minister said that in 2023, in the difficult context, Vietnam will still maintain macroeconomic stability, control inflation, and promote growth. Major balances, public debt, government debt, foreign debt, and deficit are under control and below the ceiling allowed by the National Assembly. Policies are guaranteed to be transparent, infrastructure is smooth, and governance is smart.

"Even if the world is in turmoil, we will still persist with these policies, in the spirit of harmonizing the interests of the State, people and businesses, and sharing risks together. This is the greatest balance," said the Prime Minister.

According to him, if this balance cannot be maintained, the cooperation structure will collapse and cannot ensure sustainable and effective cooperation.

Prime Minister Pham Minh Chinh chaired the discussion "Vietnam - ASEAN's leading destination for sustainable investment" in Davos (Switzerland), January 17. Photo: Nhat Bac

Mr. Don Lam, General Director of VinaCapital, assessed that the Vietnamese Government has created a safe and sustainable investment environment when becoming one of the most attractive destinations in the region and globally. "Vietnam will certainly play a more important role in the global supply chain," commented General Director of VinaCapital.

Abundant, high-quality human resources are factors that attract investors to Vietnam, according to investors. CEO of Baracoda Group (France) Thomas Serva said that this company wants to participate in building innovation centers and developing artificial intelligence in Vietnam.

Mr. Philipp Rösler, former German Vice Chancellor and VinaCapital General Director Don Lam at the discussion on January 17. Photo: Nhat Bac

However, Prime Minister Pham Minh Chinh said that Vietnam is a developing country, the economy is in transition, the scale is still modest, the resilience is limited but the openness is large. "A small external fluctuation can have a big impact on the internal, so the economy needs state regulation when necessary," said the Prime Minister.

In the coming time, the Government will promote three strategic breakthroughs, including infrastructure, high-quality human resource training and institutional improvement. At the same time, Vietnam will have priority policies for areas such as digital transformation, science and technology, and artificial intelligence.

He reiterated Vietnam's view that it will not sacrifice progress, social justice, social security, or the environment to pursue mere economic growth. People are identified as the most important subject and resource in Vietnam's policies, according to the Prime Minister.

Prime Minister Pham Minh Chinh is attending the 54th Annual Meeting of the World Economic Forum (WEF) in Davos, Switzerland, from January 16 to 18. WEF usually attracts the participation of most leaders of countries, international organizations as well as the world's leading corporations and companies. Vietnam and WEF have had relations since 1989. The organization often invites Vietnam to attend its annual meetings in Davos and WEF conferences on East Asia.

Minh Son

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