Vietnamese economy balloons sail for new trips

Hanoi (VNA) – The theme of the annual external economics conference this year (Vietnam Summit 2016), “Smooth Sailing Ahead,” has reflected the development situation in Vietnam, a country that is heading towards sustainable growth and prosperity.

Speaking to the media on the event, which opened in Ho Chi Minh City on November 3, Standing Deputy Foreign Minister Bui Thanh Son said the conference was held amidst strong development of science and technology that is leading the fourth industrial revolution.

The world economy continues to recover with a slowing pace while the ASEAN Community became operational in early 2016, opening up a new period in the country’s development, he said.

Regarding the domestic situation, the 12 th National Party Congress was successfully organised in January 2016, ushering in a new chapter in the national development process.

According to the official, the Vietnam Summit 2016’s agenda reflected the needs and interests of Vietnam as well as theexpectations of the international business communityforthe country’s development in the new context.

The summit focused on Vietnam’s position in the global economy, especially when the country joins various important economic agreements, directionsfor the country’s international integration, as well as potential, opportunities and prospects for development in manufacturing.

Participants also highlighted policies for sci-tech development to encourage innovation and creativity in Vietnam as well as measures to promote the nation’s strengths to step up agriculturalindustrialisation in a sustainable and modern manner.

Son said that the event is a good chance for Vietnam to show the international business community the determination of the Party and State toboost economic restructuring and transform thegrowth model.

Vietnam also hopes toshowcaseits efforts in building a government that is instrumental to development, improvingtheinvestment and business environment and encouraging startups and creativity.

The conference also introducedthe international business community tothe nation and people of Vietnam, stated Son.

He revealed that in 2020, when all 16 free trade agreements between Vietnam and partners are scheduled to take effect, Vietnam will enjoy partnerships with 59 nations, including five permanent members of the UN Security Council, 15 out of 20 G20 countriesand many emerging economies.

This is a significant advantage for Vietnam to draw the interest of enterprises at home and abroad who wish to make full use of the benefits generated by the deals, he noted.

Son also asserted that through the conference, ministries, sectors and localities as well as the Vietnamese business communitycouldseek partnerships with international investors in areas of shared interest.-VNA