Vietnam is seeking enhanced collaboration with global economic bodies to bolster its trade and investment landscape. Deputy Prime Minister Nguyễn Văn Thắng has urged the World Trade Organization (WTO) and the World Economic Forum (WEF) for increased support in fostering the nation’s economic growth and long-term development. His appeals were made during recent meetings in Switzerland, where he emphasized Vietnam’s dedication to a rules-based global trading system.
Thắng called on the WTO to expedite its reform processes, particularly in reinstating its dispute settlement mechanism, and to broaden its scope to include critical contemporary issues such as digital trade, artificial intelligence, climate change, and supply chain resiliency. These areas are rapidly gaining prominence on the global stage, and Vietnam is keen on integrating them into its economic framework.
In his discussions, Thắng reiterated Vietnam’s ambition to achieve high-income status by the year 2045. He proposed strengthening ties with the WEF to attract investment and spur innovation, while also advocating for the development of public-private partnerships and international financial centers. Such measures, he believes, are crucial for Vietnam to navigate and thrive in the changing global economic environment.
Officials from both the WTO and the WEF responded positively to Thắng’s initiatives, expressing support for Vietnam’s ongoing economic reforms. They pledged to continue their cooperation on various fronts, including trade, investment, and capacity-building programs. This partnership aims to not only enhance Vietnam’s economic capabilities but also integrate the country more deeply into the global economy.