Vietnam is seeking enhanced support from global economic institutions to boost its trade and investment efforts. Deputy Prime Minister Nguyễn Văn Thắng has called on the World Trade Organization (WTO) and the World Economic Forum (WEF) to play a more significant role in facilitating the country’s economic development. His request came during meetings in Switzerland, where he underscored Vietnam’s commitment to a rules-based global trading system.
Thắng emphasized the need for the WTO to expedite its reform processes, particularly in restoring the dispute settlement mechanism and expanding its scope to include emerging areas such as digital trade, artificial intelligence, climate change, and supply chain resilience. These areas are crucial for Vietnam as it aims to align itself with global economic trends and secure a stable footing in international markets.
Highlighting Vietnam’s long-term vision, Thắng reiterated the country’s ambition to become a high-income economy by 2045. To achieve this, he invited the WEF to engage in deeper cooperation, focusing on promoting investment, fostering innovation, and enhancing public-private partnerships. Additionally, he advocated for the development of international financial centers, which are seen as vital to supporting Vietnam’s economic aspirations.
Officials from the WTO and WEF responded positively to Vietnam’s proactive approach, acknowledging the country’s ongoing economic reforms. They assured continued cooperation with Vietnam in areas such as trade, investment, and capacity-building initiatives. This support is expected to help Vietnam further integrate into the global economy and achieve sustainable economic growth.