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Vietnam pinpoints 3 growth-boosting factors at WEF meeting in China

Vietnam pinpoints 3 growth-boosting factors at WEF meeting in China

Wednesday, June 26, 2024, 17:12 GMT+7
Vietnam pinpoints 3 growth-boosting factors at WEF meeting in China
Vietnam’s Prime Minister Pham Minh Chinh delivers his speech at the 15th World Economic Forum (WEF) Annual Meeting of the New Champions in China’s Dalian City, June 25, 2024. Photo: Doan Bac / Tuoi Tre

Vietnamese Prime Minister Pham Minh Chinh has identified three factors that influence the world's economic order and three others that can help open ‘new growth horizons’ while speaking at the ongoing 15th World Economic Forum (WEF) Annual Meeting of the New Champions in China’s Dalian City.

PM Chinh on Tuesday delivered a speech at the plenary session of the event, which brings together 1,500 global leaders from business, government, civil society, international organizations, academia, and media to discuss new models for relaunching economies, with a strong focus on ‘Next Frontiers for Growth.’

He told the audience that the world is strongly influenced by three major factors: the explosive development of science and technology, creative innovation, digitalization, and AI; the severe impacts of climate change, natural disasters, resource depletion, and an aging population; and the increasing fragmentation and polarization due to conflicts, wars, and global-scale geostrategic, geopolitical, and geoeconomic competitions, the Vietnam News Agency reported.

At the same time, the world is being driven by three trailblazing areas: the development of the digital economy, the advancement of green and circular economies, and the cultivation of high-quality human resources alongside AI and the Fourth Industrial Revolution.

“The evolution of these transformative areas will usher in the 'next frontiers for growth' with profound and far-reaching impacts on every person and sector all over the world,” the Vietnam News Agency cited PM Chinh as saying.

The three pioneering areas require every country to adopt a new mindset and approach, which should be people-centered, comprehensive and globally oriented, for common benefits both in the short and long terms.

The Vietnamese government leader underscored the increasing role and voice of developing countries, including Vietnam, which have remarkably contributed to the shaping of new global cooperation frameworks and development trends.

He also commented that Asia, including China and ASEAN countries, has emerged as a key driver, a dynamic development hub, and an engine of global economic growth. 

PM Chinh shared with the audience the success story of Vietnam, which has adhered to innovation, creativity, and integration for nearly 40 years to emerge from a war-torn nation to a middle-income country and one of the 40 largest economies in the world.

In order to realize the ‘Next Frontiers for Growth,’ PM Chinh called on all countries to foster trust and promote dialogue for the sake of solidarity, cooperation, and development.

Every regional and global issue should be addressed based on principles of laws and ensure the harmonious interests of all parties involved, he added.  

The prime minister called on the WEF, its partners, and the business community to step up their efforts in providing guidance, support, and advocacy for public-private partnerships, while also taking the lead in shaping future development.

He urged developed countries to assist and collaborate with poor and developing countries in building strong market economies, infrastructure, access to technology, and training a skilled workforce.

At the end of his speech, PM Chinh proposed that all countries adopt a policy of 'three togethers': listening and understanding together, sharing visions and actions together, and working and celebrating together.

This policy should be based on the spirit of harmonious benefits and shared risks, for a good, fair, equitable, harmonious, and sustainable world.

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Vinh Tho - Ngoc An / Tuoi Tre News

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