Vietnam is seeking enhanced support from international bodies to boost its economic prospects. Deputy Prime Minister Nguyễn Văn Thắng, during meetings in Switzerland, urged the World Trade Organization (WTO) and the World Economic Forum (WEF) to play pivotal roles in advancing Vietnam’s trade and investment sectors as part of its long-term economic development strategy.
In his discussions, Thắng emphasized Vietnam’s dedication to maintaining a rules-based international trading system. He called on the WTO to initiate significant reforms, particularly focusing on restoring its dispute settlement mechanism. Furthermore, he advocated for the organization to expand its purview to include emerging global issues such as digital trade, artificial intelligence, climate change, and supply chain resilience.
Thắng outlined Vietnam’s ambitious objective to transition into a high-income economy by the year 2045. To achieve this, he invited the WEF to intensify its cooperation with Vietnam, specifically in areas like promoting investment, fostering innovation, and enhancing public-private partnerships. He also mentioned the importance of developing international financial centers as part of this collaborative effort.
Officials from both the WTO and WEF responded positively to Vietnam’s economic reforms and expressed their commitment to ongoing collaboration. They pledged to support Vietnam in areas like trade, investment, and capacity-building initiatives, thereby reinforcing the country’s economic trajectory.