Vietnam pushes for energy transition: PM

Vietnam remains committed to robustly innovating its growth model, undertaking economic restructuring, fostering innovation and digital transformation, accelerating the energy transition, advancing the development of a green economy, and promoting the adoption of a circular economy.

Prime Minister Pham Minh Chinh, WEF President Klaus Schwab and WEF CEO Borge Brende. Photos: Nhat Bac

Prime Minister Pham Minh Chinh gave the remarks during a meeting with leaders of the World Economic Forum (WEF) at the Country Strategic Dialogue on Vietnam in Tianjin, China today [June 26].

The event was part of the 14th Annual Meeting of the New Champion of the WEF in the Chinese city from June 25-28.

At the dialogue, Chinh highlighted Vietnam's focus on establishing a socialist rule of law state, socialist democracy, and a socialist-oriented market economy.

“With the people at the core as the driving force for development, Vietnam consistently implements a foreign policy that emphasizes independence, self-reliance, and the diversification of foreign relations,” Chinh said.

The Prime Minister emphasized the country's efforts in three strategic breakthroughs: establishing comprehensive institutions, developing high-quality human resources, and building modern and synchronized infrastructure.

Regarding socio-economic development, Chinh acknowledged the significant impact of the global economy on Vietnam due to its high degree of openness.

Despite challenging circumstances, Vietnam has effectively responded to external risks, maintained macroeconomic stability, controlled inflation, and ensured major balances while promoting economic growth, Chinh said.

In addition, national defense and security have been firmly consolidated, creating a peaceful and stable environment for development, he noted.

Delegates at the dialogue.

In sharing Vietnam's advantages with the WEF and businesses, the Prime Minister expressed the need for continued cooperation and support from the organization and its members in technology, finance, and the training of high-quality human resources in modern management.

The remarks made by the Prime Minister garnered favorable responses from leaders of the World Economic Forum (WEF) and business representatives, who highly praised Vietnam's remarkable recovery achievements and economic prospects.

Vietnam was recognized as a shining example of economic recovery in the region, with its successful disease prevention strategies, transformative growth models, and a strong commitment to the energy transition, said the WEF’s representative.

Many business representatives at the dialogue were impressed by the Vietnamese Government's continuous attention and support for the business community, evident through policies aimed at addressing challenges and improving the business environment.

With the Government's proactive measures to create an appealing investment climate, the business community perceives Vietnam as an attractive and suitable destination for investment and long-term collaboration.

In addition, several businesses expressed their interest in understanding Vietnam's policies regarding transportation infrastructure development, the improvement of the logistics system, the implementation process of power plan VIII, and the progress of digital transformation.

The dialogue between the Government, businesses, and WEF participants transpired in an atmosphere of openness, sincerity, substance, and efficiency. Businesses admired Vietnam's people and the country itself, highly appreciating Vietnam's participation in the WEF annual meeting. They affirmed their intention to visit Vietnam to engage in further discussions with ministries, agencies, and local authorities, to realize collaborative plans, and forge stronger partnerships with Vietnam.

Prime Minister Pham Minh Chinh and Vice Chairman of Nasdaq Robert H. McCooey Jr.

Later that day, during his participation at the WEF meeting in Tianjin, Prime Minister Pham Minh Chinh met with Robert H. McCooey Jr., the Vice Chairman of Nasdaq Corporation.

The Prime Minister thanked Nasdaq for its interest in and support for Vietnamese businesses. He expressed his anticipation for fruitful exchanges and knowledge-sharing between Nasdaq and Vietnam, covering topics such as the monetary policies of major countries, global financial market trends, and experiences that can aid in developing the domestic capital market.

Chinh also emphasized the importance of Nasdaq's continued partnership in supporting the growth and expansion of Vietnamese enterprises.

The Vice Chairman of Nasdaq conveyed his admiration for Vietnam's economic recovery and growth while expressing high regard for the government's monetary and financial management policies.

He expressed confidence in the dynamic development of Vietnamese enterprises and pledged ongoing support to help them expand their global reach. The Vice Chairman looked forward to hosting the Prime Minister at the Nasdaq Stock Exchange shortly.