Deputy Foreign Minister Nguyen Quoc Dung (Photo: VNA) Hanoi (VNA) – Deputy Foreign Minister and head of theVietnam ASEAN SOM Nguyen Quoc Dung recently attended the 2021 India EconomicConclave (IEC), themed “India's Decade: Reform. Perform. Transform”.
As the seventh edition held by the Times Network, the IEC 2021featured 33 reports by 10 key ministers,two army commanders, four leaders of Indian localities, corporate executives,economists and senior officials in the region.
The event held significance to promoting common vision among Indianpoliticians, authorities and businesses about the country’s post-COVID-19strong development.
As a keynote guest speaker, Dung said amid the complicateddevelopments of the world economy, countries need to reform and transform themselves towards sustainable and mutually beneficial development. Countries, including Vietnam,consider win-win growth as an important content in their developmentorientations. Accordingly, one country’s growth is by no means destructive toanother’s but pushes other countries and regions forward.
He stressed that with strong and long-standing cultural andhistorical bonds with Southeast Asia, India, a strong economy and advancedscience, has been a responsible country for promoting sustainableeconomic growth. Its growth is making positive contributions to mutuallybeneficial development for peace and prosperity in the region. On thecontrary, Southeast Asia’s vibrant development is attributable to India’s growth.
Highlighting Vietnam’s successes in surviving COVID-19 to devise its development strategy for 2021-2030, Dung suggested that Vietnamand India further enhance cooperation in supply chain connectivity, including chains of India’s medical supplies, pharmaceuticals and vaccines.
He proposed facilitating access to each other's market, strengtheningcooperation of stances on World Trade Organisation reform, shaping rules ondigital trade governance, digital economy, promoting innovation, buildingresearch and development centres in Vietnam, accelerating projects related to climatechange response within the Ganga – Mekong Cooperation framework.
As the 2021-2030 period is important to India’s development tobecome a new workshop of the world, Indian ministers presented the national actionplans for sectors. Corporate executives and experts also talked aboutgeo-political and geo-economic movements in the region, key opportunities andchallenges in specific areas, demand for infrastructure development and drivingforces for sustainable and comprehensive economic growth.
In the first two decades of the 21st century, theIndian economy grew by 7.4 percent during 2001-2010 and 6.76 percent during2011-2019. International financial institutions also forecast that India’sgrowth will expand by 12 percent during 2021-2022 fiscal year./.
