Establishing Vietnam's position as an attractive investment destination
According to Associate Professor Dr. Dinh Trong Thinh, these visits will support and facilitate Vietnamese enterprises in import-export, investment and economic development activities. In particular, taking advantage of tax incentives and free trade agreements to promote import-export activities of Vietnamese enterprises. Strengthening connections between Vietnamese enterprises and foreign partners, contributing to improving the efficiency of economic activities.
Agreeing with the above viewpoint, Dr. Le Duy Binh - Director of Economica Vietnam - said that the visits and signing of agreements by Party and State leaders, in addition to their diplomatic significance, have sent a message that Vietnam will continue to expand economic, trade and investment cooperation with many countries around the world, aiming to basically complete the modernization process by 2045, striving to become a developed, high-income country.
“The business trips of key Vietnamese leaders and cooperation agreements with countries around the world will create conditions to build Vietnam's position in the global supply chain, establishing its position as an attractive investment destination, a friendly investment partner with a highly competitive investment environment in the ASEAN and Asia-Pacific regions. The solid position and increasing trust of international investors will open up new opportunities, such as attracting investment in industries that are important to the future such as semiconductors, electronics, artificial intelligence, robotics, pharmaceuticals, biotechnology, digital economy and new economic sectors with higher research and development and innovation content,” Dr. Le Duy Binh affirmed.
Opportunity for businesses to "transform"
To effectively take advantage of opportunities from visits by Party and State leaders, efforts and close coordination between the Government, state agencies and the Vietnamese business community are needed.
According to Dr. Le Duy Binh, the state plays a role in paving the way, creating a favorable investment environment, while businesses must proactively prepare capital, human resources, technology and business strategies to seize new opportunities.
To take advantage of these opportunities, Vietnamese businesses need to make great efforts and prepare carefully. Businesses need to change their thinking and investment strategies to new areas that require high technology, innovation, and pay attention to issues such as green growth and social responsibility. Management, production, and service provision methods must also change to adapt to new requirements.
For new markets, especially potential markets such as the Middle East and South America, Associate Professor Dr. Dinh Trong Thinh believes that Vietnamese enterprises need to actively research and grasp information to adjust production. They must adapt and adjust products and designs to suit the tastes, needs and quality requirements of each market. Improve quality and innovate products to be able to compete and effectively penetrate new markets.
“The Government and State agencies need to create more conditions and support so that businesses can learn, grasp and take advantage of opportunities from diplomatic visits. Continue to expand and strengthen foreign relations, sign economic and trade cooperation agreements with countries and regions” - Associate Professor, Dr. Dinh Trong Thinh suggested.
Signing a series of important documents
The state visit to Mongolia, Ireland, attendance at the 19th Francophone Summit and official visit to the French Republic from September 30 to October 7 by General Secretary and President To Lam "created many important historical marks in relations with the three countries, with three Joint Statements on the establishment of the Vietnam-Mongolia Comprehensive Partnership, the Vietnam-Ireland Strategic Partnership in Higher Education and the upgrading of the Vietnam-France relationship to a Comprehensive Strategic Partnership" - according to Party Central Committee member, Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son. During the visit, nearly 20 documents were signed, including seven cooperation documents with Mongolia, three cooperation documents with Ireland, and nearly 10 documents with France.
During the official visit to Malaysia from November 21-23 by General Secretary To Lam and his wife, Vietnam and Malaysia upgraded their relationship to a Comprehensive Strategic Partnership. Also during the visit, General Secretary To Lam and Malaysian Prime Minister Anwar Ibrahim witnessed the exchange of two cooperation documents in the fields of tourism and energy.
During the official visit to the Republic of Chile; official visit to the Republic of Peru and attendance at the 2024 Asia-Pacific Economic Cooperation (APEC) Summit Week in Lima, Peru from November 9 to 16 by Politburo member and President Luong Cuong, many important documents were signed.
Member of the Party Central Committee, Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son said: "The visit has created new momentum, opening up many cooperation opportunities between Vietnam, Chile and Peru in many traditional fields such as agriculture, security - defense, education, tourism and expanding to new fields with great potential such as innovation, green transformation, digital transformation, response to climate change, energy, oil and gas, telecommunications".
From October 27 to November 1, Politburo member, Prime Minister Pham Minh Chinh and his wife paid an official visit to the United Arab Emirates (UAE), the State of Qatar, attended the 8th Future Investment Initiative Conference and paid a working visit to the Kingdom of Saudi Arabia. During the Prime Minister's visit, a highly anticipated highlight that became a reality was the signing of the Vietnam - UAE Comprehensive Economic Partnership Agreement (CEPA).
During his working trip to China to attend the 8th Greater Mekong Subregion (GMS) Summit, the 10th Ayeyawady-Chao Phraya-Mekong Economic Cooperation Strategy Summit (ACMECS), the 11th Cambodia-Laos-Myanmar-Vietnam (CLMV) Summit and a working visit to China from November 5-8, Politburo member and Prime Minister Pham Minh Chinh attended the Vietnam-China Business Forum. Businesses of the two countries signed and exchanged 14 cooperation agreements in the fields of railway transport, aviation, logistics, energy, tourism and services.
Politburo member, Prime Minister Pham Minh Chinh and his wife attended the G20 Summit; conducted a number of bilateral activities in Brazil from November 16-19; and visited the Dominican Republic from November 19-21. During the Prime Minister's visit, Vietnam and Brazil upgraded their relationship to a Strategic Partnership.
From October 17 to 19, Politburo member and National Assembly Chairman Tran Thanh Man paid an official visit to Laos and attended the 45th ASEAN Inter-Parliamentary Assembly (AIPA-45). Most recently, National Assembly Chairman Tran Thanh Man paid an official visit to the Kingdom of Cambodia and attended the 12th Plenary Meeting of the International Conference of Asian Political Parties (ICAPP) and the 11th Plenary Meeting of the International Parliament for Tolerance and Peace (IPTP) from November 21 to 24.
Enhancing the role and position of Vietnam
Former Vietnamese Ambassador to Iraq, UAE and some Middle Eastern countries Nguyen Quang Khai commented that in the past two months, our Party and Government leaders have conducted a series of intensive diplomatic activities. These visits demonstrate the Party and State's foreign policy of independence, self-reliance, multilateralization, diversification, proactiveness and active, comprehensive and extensive international integration, contributing to enhancing Vietnam's role and position in the international arena, while creating new steps of development in cooperative relations with countries in the international community, serving the cause of building and defending the Fatherland of our people. The visits of Vietnam's highest-ranking leaders to other countries not only contribute to strengthening political relations but also economic, trade and investment cooperation. In particular, the visit of Politburo member and Prime Minister Pham Minh Chinh to the three Gulf countries "achieved many important results, opening up many great cooperation opportunities between Vietnam and potential countries in the region".
In particular, the Vietnam - UAE Comprehensive Economic Partnership Agreement (CEPA) - Vietnam's first free trade agreement with a Middle Eastern country - contributes to opening a big path for Vietnam to penetrate deeper into the UAE market, countries in the Gulf region, the Middle East - North Africa. Thanh Ha
