Changes in mindset in foreign relations needed to promote economic development: Minister

by NDO/VNA14 December 2021 Last updated at 14:00 PM

Minister of Industry and Trade Nguyen Hong Dien proposed a number of measures to promote external relations to adapt to the new situation and boost post-pandemic economic development at the National Conference on Foreign Affairs on December 14.

Underlining the need to continue strengthening economic diplomacy to ensure the highest national interest in the new situation, Dien held that it is necessary to institutionalise the Party’s stance and policy on external economic activities to suit international commitments and practices, while promptly building a new strategy on international economic integration through joining free trade agreements, especially new generation FTAs and effectively implementing existing ones.

Alongside, it is necessary to focus on developing fundamental industrial sectors and form strong industrial firms with close links with the global supply chains, together with the development of breakthrough sectors to match international trends, he said.

The official stressed the need to pay more attention to the role of businesses as the centre of external economic activities by focusing on removing difficulties and obstacles facing them, supporting them in international integration, and speeding up administrative reform to facilitate investment, business as well as import-export activities, and assiting enterprises in expanding operations abroad.

He said that it is crucial to concentrate on building an economy of independence and self-reliance on the basis of multilateralisation and diversification of external economic relations to avoid dependence on a particular market or partner. Together with ensuring harmony in interest, he noted promoting cooperation in shaping common regulations in international labour division to improve the position of Vietnam in the regional and global value, production and supply chains.

The minister also underlined the necessity to improve the capacity of agencies and officials engaging in foreign economic activities as well as the business community in issues related to foreign economic strategy, trade protectionism and risks of supply chain crackdown, along with the development of high-quality human resources.

At the conference, Chairman of the Ho Chi Minh City People’s Committee Phan Van Mai held that vaccine diplomacy is an evidence of the adaptive and creative diplomatic sector of Vietnam amid the COVID-19. He noted that thanks to the flexible foreign relations activities during the outbreak, the city has received great support from partners around the world in fighting the pandemic and maintaining economic development.


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