Economic diplomacy in the era of rising up

(SGI) - On the occasion of the beginning of the new year 2025, Mr. BÙI THANH SƠN (photo), member of the Party Central Committee, Deputy Prime Minister, Minister of Foreign Affairs, had an interview with Saigon Investment about the outstanding results achieved in Vietnam's foreign affairs in 2024, as well as the diplomatic focuses in the coming time, especially the important role of economic diplomacy.

Mr. BÙI THANH SƠN
Mr. BÙI THANH SƠN

JOURNALIST: - Sir, 2024 is considered a year with many fluctuations on the global geopolitical chessboard, but it can also be considered a year in which Vietnamese diplomacy has achieved many successes. How do you see this result?

Mr. BÙI THANH SƠN: - It is true that in 2024 the world situation continues to fluctuate complicatedly with many instabilities and conflicts; Urgent global issues such as climate change, natural disasters, epidemics, food security, water security, have had multi-dimensional impacts, seriously threatening the stability and sustainable development of all countries.

However, Vietnam can be proud that despite such a world context, Vietnam has still maintained the country's situation of peace, stability, development and is considered by international public opinion as a bright spot in the region. Vietnam's foreign affairs activities have been proactively and positively implemented and achieved many substantive results, creating a new stature, creating momentum for the country to enter an era of growth.

On the basis of independent, diversified and multilateral foreign affairs, Vietnam's diplomacy will be increasingly proactive and creative in 2024. For example, high-level foreign affairs activities have taken place vibrantly and widely across continents, at many other important multilateral forums. Vietnam's key leaders have conducted 59 foreign affairs activities, including 21 visits to countries and participation in multilateral conferences; welcomed 25 delegations of foreign leaders to visit and work in Vietnam; promoted and implemented international commitments, upgraded relations, and signed more than 170 cooperation agreements in many fields. International friends increasingly value and wish to promote relations with Vietnam. In 2024, Vietnam upgraded relations to Comprehensive Strategic Partnership with major partners such as Australia, France, Malaysia; upgraded relations to Strategic Partnership with Brazil; established Comprehensive Partnership with Mongolia, United Arab Emirates. Thereby, Vietnam has created a framework for relations with 32 leading partners, including neighboring countries, major countries and traditional friends. Along with establishing diplomatic relations with Malawi (in Southeast Africa), Vietnam has also officially established diplomatic relations with all African countries, bringing the number of countries having diplomatic relations with Vietnam to 194.

- Sir, does this mean that Vietnam has focused on economic diplomacy?

- The bright spot in economic diplomacy continues to contribute positively to the overall development of the country's economy, even though the world economy is still in a difficult period. Economic content is increasingly taking up a large number of high-level foreign affairs activities. Thereby, we have won over major partners such as China, the US, Japan, South Korea, and India in digital transformation, green transformation, semiconductor technology, and artificial intelligence; participated in new supply chains and expanded export markets through 17 signed free trade agreements (FTAs); caught the wave of investment shift in the region, welcomed the wave of high-quality foreign direct investment (FDI) and new-generation ODA with incentives and longer terms; Expanding the market for tourism, labor...

In 2024, Vietnam's total import-export turnover will reach a record of USD 786.29 billion; continue to be the country receiving the largest FDI capital flow in the world; welcome nearly 17.6 million international tourists, an increase of 44% over the same period in 2023. This is a positive signal showing that Vietnam is an attractive destination for partners, investors and international tourists.

On the multilateral level, Vietnam is increasingly affirming its role, position, prestige and making many positive contributions to the international community. In international forums such as ASEAN, AIPA, United Nations, APEC, Mekong Sub-region, G20, G7, BRICS, Non-Aligned Movement, Francophone Community, OECD..., Vietnam continues to promote its role as an active contributor to ideas and initiatives that are welcomed and responded to by many countries. In international organizations where Vietnam is undertaking important responsibilities such as the United Nations Human Rights Council, and 6/7 important executive mechanisms of UNESCO, Vietnam has promoted its image and responsible voice in a comprehensive, holistic, and harmonious approach. Along with that is Vietnam's responsible contribution to common global issues, such as climate change response, peacekeeping, food security, water security, and cyber security.

Diplomacy has contributed to successfully lobbying UNESCO to register 6 more titles and heritages, bringing the total number of titles recognized by UNESCO in Vietnam to 71, creating new resources for sustainable economic, social, and tourism development in localities in the country.

- Sir, how is the role of economic diplomacy specifically demonstrated in the country?

- Economic diplomacy has become a central task. Sectors and localities all take the motto of “people, businesses and localities as the center of service”. If we look back at the lessons of the previous countries, the “dragons and tigers” in Asia, then in the current era of Vietnam’s rise with the focus on economic diplomacy, we must find a way to put the country in an optimal position in the main development trends and movements of the world, thereby expanding the development space and creating new opportunities for the country’s strategic breakthroughs.

In the country, after nearly 40 years of Doi Moi, with new positions and strengths, with urgent requirements of the times, it can be said that this is the time to converge factors to bring the country into a new era, as General Secretary Tô Lâm recently stated. To make the most of this opportunity, we must deeply realize that, entering a new era, economic diplomacy needs to continue to promote its role in serving the people, serving businesses and serving localities with the spirit of "more effective, deeper and more substantial", with a new mindset of "more sensitive and creative".

- So in the coming time, specifically from 2025, what will the focus of economic diplomacy include, sir?

- The focus of economic diplomacy in the past and in the coming time will be to identify and take advantage of opportunities from new trends that are taking shape in the world such as digital transformation, green transformation, energy transformation, and to establish extensive cooperation with innovation centers in the world, including countries and businesses in breakthrough fields such as high technology, semiconductor technology, artificial intelligence, quantum technology, etc.

The recent cooperation agreements with NVIDIA and other digital and high-tech corporations are typical examples. To establish its position in the emerging supply chain and production chain, Vietnam must become an important and sustainable link in this production chain. Therefore, it will promote specialized, specialized, and specialized diplomatic activities, such as technology diplomacy, climate diplomacy, agricultural diplomacy, infrastructure diplomacy, digital economy diplomacy, etc.

-Sir, in reality, 2024 is also a very successful year in the work of overseas Vietnamese. And this is also an important resource for the development of the country. What is your assessment of this issue?

- The community of nearly 6 million Vietnamese people currently living and working in more than 130 countries and territories is always an inseparable part of the entire nation. The consistent policy of the Party and State is to pay great attention to taking care of our people to stabilize their lives, integrate with the host country, have a stable economic and legal status, connect with our compatriots abroad, and strengthen the great national unity bloc. At the same time, create conditions for our compatriots to contribute to national construction.

The Party and State of Vietnam always respect the spirit of turning to the homeland, and the contributions of our compatriots abroad to the cause of socio-economic development of the country. The investment resources of overseas Vietnamese remittances and knowledge for the Fatherland are truly important resources for the country's development, with 421 FDI projects and a total registered investment capital of USD 1.72 billion in 42/63 provinces and cities; the amount of remittances in 2024 is forecast to reach about USD 16 billion. These are very important resources for the country's economic development. In addition, the overseas Vietnamese community also contributes to the development of science - technology, education, health and other volunteer activities in Vietnam.

- Sir, so the overseas Vietnamese are an indispensable community in the era of national development?

- Vietnam is entering the era of national development, so more than ever, promoting the strength of the overseas Vietnamese community is becoming increasingly important. Promoting the mobilization of the overseas Vietnamese community to contribute to the development and protection of the Fatherland, continuing to improve legal policies and legal corridors in the country, is also creating conditions for people to be more connected with the country. At the same time, we also deploy comprehensive, long-term methods to care for and develop overseas Vietnamese, which is also a key task in the coming time.

To mobilize economic resources and especially the intellectual resources of overseas Vietnamese, the Government has been implementing many policies and strategies to simplify administrative procedures, so that our compatriots abroad can easily return to the country to live, invest and do business. Along with that, important legal documents such as the Land Law, Housing Law, Real Estate Business Law, and Citizen Identification Law have also been completed, creating favorable conditions for overseas Vietnamese to live, work, and invest in Vietnam.

With breakthrough policies and a favorable environment, I am confident that the overseas Vietnamese community will maximize their potential and contribute to the Fatherland.

- Thank you very much.

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