Economic diplomacy enters a new phase, aiming for double-digit growth

Prime Minister Pham Minh Chinh said Vietnam’s economic diplomacy has entered a new phase, expanding markets and improving quality to underpin new growth momentum.

On January 10, the Prime Minister chaired an online conference with Vietnamese ambassadors and heads of overseas representative missions to review economic diplomacy efforts in 2025 and outline tasks for 2026.

Prioritising breakthroughs in international cooperation

In his concluding remarks, the Prime Minister said economic diplomacy had delivered important results, marking a “shift in approach and a turnaround in circumstances.” He summarised the outcomes as: “proactive engagement, expanded markets, improved quality, clearer effectiveness, economic growth and tangible benefits for the people.”

Citing concrete data and evidence, he stressed that from 2026 onward Vietnam must achieve double-digit growth, requiring all levels, sectors, localities and economic fields to pursue double-digit expansion.

Guided by the principles of “unity to build strength, cooperation for mutual benefit and dialogue to enhance trust,” and the view that “diplomacy in general, and economic diplomacy in particular, must be conducted with sincerity, harmonised interests and shared risks,” the Prime Minister instructed ministries, sectors, local authorities, agencies, enterprises and overseas missions to resolutely implement the Party’s and State’s guidelines and policies, including the resolutions of the upcoming 14th National Party Congress and the strategic resolutions of the Politburo.

Prime Minister chairs the conference. Photo: VGP

Prime Minister chairs the conference. Photo: VGP

He underscored the need to prioritise breakthroughs in international cooperation in science and technology, innovation, digital transformation, green transition and green development in the digital era, describing these areas as objective requirements, strategic choices and top priorities. Other focus areas include sustainable energy, smart cities and tourism; attracting major technology corporations and overseas Vietnamese scientists; and creating favourable conditions for Vietnamese enterprises to integrate into global value chains.

The Prime Minister called on ministries, localities, businesses and overseas missions to renew traditional growth drivers while simultaneously advancing market diversification and multilateralisation, diversifying products and supply chains, and tapping the potential of markets in the Middle East, Africa and South America. He highlighted the expansion of free trade agreements with partners such as Bangladesh, Pakistan and African countries including Nigeria, and urged the early conclusion of a free trade agreement with the Mercosur bloc.

To better harness new growth drivers, he urged stronger cooperation with major and traditional partners as well as emerging ones, alongside expanded collaboration in cloud computing, artificial intelligence and semiconductor technology, and proactive efforts to safeguard national interests.

He called for robust and practical support for businesses to grow, expand investment and enter international markets through an integrated ecosystem of banking services, logistics, human resources and legal support, with particular attention to small and medium-sized enterprises, and through partnerships with leading global technology groups.

The Prime Minister assigned specific tasks to several ambassadors, including asking the Ambassador to the US to work toward early recognition of Vietnam’s market-economy status and the removal of Vietnam from lists restricting high-tech exports; urging the Ambassador to China to promote cross-border railway connectivity projects; requesting the Ambassador to Russia to advance cooperation on the Ninh Thuan nuclear power plant project; and tasking the Ambassador to Belgium and ambassadors to ASEAN countries with continuing engagement with the EU Commission and regional partners on combating illegal, unreported and unregulated fishing.

Accelerating support for Vietnamese businesses to go global

Calling for stronger promotion of Vietnamese products and brands overseas, the Prime Minister instructed the Ministry of Industry and Trade to swiftly finalise the “Go Global” programme to support Vietnamese enterprises’ international expansion. He also urged enhanced efforts to attract international businesses and investors for long-term cooperation, support the effective operation of international financial centres and free trade zones, and promote cross-border economic cooperation.

He said Vietnam must continue to proactively and substantively contribute to multilateral forums, including the World Economic Forum, successfully organise APEC Leaders’ Week in 2027, effectively assume leadership roles in multilateral mechanisms, promote exports of halal products to Middle Eastern markets, and work closely with localities on investment promotion and market access for goods.

The Prime Minister concluded by stressing a spirit of discipline and responsibility, accelerated innovation and sustainable effectiveness, affirming that once direction is set and consensus achieved, “there is only action, not retreat.” He reiterated the principle of “six clarities”: clear responsibilities, clear tasks, clear accountability, clear authority, clear timelines and clear outcomes.

Phuong Trang
Comment

LatestMost Read