In a bid to bolster Vietnam’s economic prospects, Deputy Prime Minister Nguyễn Văn Thắng has urged the World Trade Organization (WTO) and the World Economic Forum (WEF) for enhanced support. During his recent visit to Switzerland, Thắng emphasized the need for Vietnam to align with a rules-based global trading framework and called on the WTO to expedite reforms. He specifically pointed to the importance of reviving the organization’s dispute settlement system and broadening its agenda to include modern challenges such as digital trade, artificial intelligence, climate change, and enhancing supply chain resilience.
Thắng outlined Vietnam’s ambitious vision to achieve high-income status by 2045, highlighting the critical role of international collaboration in reaching this goal. He invited the WEF to intensify their partnership with Vietnam, focusing on key areas such as investment promotion, fostering innovation, and developing public-private partnerships. Additionally, he underscored the significance of establishing international financial centers to facilitate economic growth and integration into the global economy.
In response, both the WTO and WEF officials expressed appreciation for Vietnam’s ongoing economic reforms, which have played a substantial role in the country’s developmental trajectory. They assured continued cooperation with Vietnam to enhance trade, investment, and capacity-building initiatives, acknowledging the nation’s efforts to integrate into the global market and its commitment to sustainable economic policies.
The interactions in Switzerland are part of Vietnam’s broader strategy to engage with international entities and seek support for its economic agenda. By prioritizing reforms and seeking international partnerships, Vietnam aims to navigate the complexities of global trade and address emerging economic challenges effectively. Thắng’s appeal to the WTO and WEF highlights the country’s proactive approach in fostering an environment conducive to sustainable economic development.
Vietnam’s engagement with these global organizations underscores its dedication to not only improving its own economic standing but also contributing to international economic governance. As Vietnam continues to push for reforms and international cooperation, it sets a precedent for other developing nations aspiring to elevate their economic status and resilience in the face of global challenges.