Vietnamese economy balloons sail for new trips

Thứ Sáu, 04/11/2016, 15:59

The theme of the annual external economics conference this year (Vietnam Summit 2016), “Smooth Sailing Ahead,” has reflected the development situation in Vietnam, a country that is heading towards sustainable growth and prosperity.

Vietnam economy records healthy growth againsta rising challenges

Speaking to the media on the event, which opened in Ho Chi Minh City on November 3, Standing Deputy Foreign Minister Bui Thanh Son said the conference was held amidst strong development of science and technology that is leading the fourth industrial revolution.

The world economy continues to recover with a slowing pace while the ASEAN Community became operational in early 2016, opening up a new period in the country’s development, he said.

Standing Deputy Foreign Minister Bui Thanh Son (Photo: VNA)

Regarding the domestic situation, the 12 th National Party Congress was successfully organised in January 2016, ushering in a new chapter in the national development process.

According to the official, the Vietnam Summit 2016’s agenda reflected the needs and interests of Vietnam as well as the expectations of the international business community for the country’s development in the new context.

The summit focused on Vietnam’s position in the global economy, especially when the country joins various important economic agreements, directions for the country’s international integration, as well as potential, opportunities and prospects for development in manufacturing.

Participants also highlighted policies for sci-tech development to encourage innovation and creativity in Vietnam as well as measures to promote the nation’s strengths to step up agricultural industrialisation in a sustainable and modern manner.

Son said that the event is a good chance for Vietnam to show the international business community the determination of the Party and State to boost economic restructuring and transform the growth model.

Vietnam also hopes to show case its efforts in building a government that is instrumental to development, improving the investment and business environment and encouraging startups and creativity.

The conference also introduced the international business community to the nation and people of Vietnam, stated Son.

He revealed that in 2020, when all 16 free trade agreements between Vietnam and partners are scheduled to take effect, Vietnam will enjoy partnerships with 59 nations, including five permanent members of the UN Security Council, 15 out of 20 G20 countries and many emerging economies.

This is a significant advantage for Vietnam to draw the interest of enterprises at home and abroad who wish to make full use of the benefits generated by the deals, he noted.

Son also asserted that through the conference, ministries, sectors and localities as well as the Vietnamese business community could seek partnerships with international investors in areas of shared interest.

VNA