Economic diplomacy needs to expand and deepen in coming period: Deputy Director General of Department of Economic Diplomacy
WVR - On November 10, on the occasion of the National Patriotic Emulation Congress of the Ministry of Foreign Affairs for the 2025–2030 period, , Ms. Luyen Minh Hong, Deputy Director Gneeral of the Department of Economic Diplomacy, Ministry of Foreign Affairs, shared with The World & Vietnam Report about the orientation for implementing economic diplomacy in the upcoming period.
Latest
 |
| Ms. Luyen Minh Hong, Deputy Director of the Department of Economic Diplomacy, Ministry of Foreign Affairs, during an interview. (Photo: Thanh Long) |
According to Ms. Hong, in the context of rapidly changing global and regional situations, the international economic integration, investment, and business environment are becoming more challenging. In response to these challenges, the Ministry of Foreign Affairs has identified the need for breakthrough solutions and approaches to achieve more substantive and sustainable results in economic diplomacy to support national development.
She stated that to effectively implement the policies of the 14th Party Congress Document, economic diplomacy in the coming period needs to undergo three major shifts in mindset, content, and implementation methods.
In terms of mindset, firstly, there needs to be a shift from a participation mindset to a creation mindset, meaning Vietnam should not only participate but also proactively propose and build new frameworks and regulations in international economic and trade fields, thereby creating advantages for the economy and clearly positioning Vietnam's role in the emerging global economic order.
Secondly, there should be a shift from reliance on exports to enhancing domestic capacity, aiming to strengthen internal drivers, support economic restructuring, and promote long-term growth.
Thirdly, shift from reactive responses to proactively seizing opportunities, seeking and creating opportunities even in difficult contexts, turning challenges into development drivers.
Regarding content, Ms. Luyen Minh Hong emphasized that economic diplomacy needs to expand and deepen, reflected in three major shifts:
Firstly, not only serving traditional growth drivers but also emphasizing new drivers such as green transition, digital transformation, and energy transition.
Secondly, instead of just focusing on market expansion, Vietnam needs to engage more deeply in global supply chains to enhance the competitiveness of domestic enterprises.
Thirdly, not just stopping at attracting investment, but aiming to attract technology, knowledge, and management experience. These are core factors helping Vietnam improve growth quality.
In terms of implementation methods, according to the Deputy Director, economic diplomacy in the new context needs to focus on deepening foreign relations, strengthening political trust as a foundation to promote trade, investment, and science-technology cooperation.
Additionally, Vietnam needs to harmonize bilateral and multilateral diplomacy, proactively participating in resolving regional and global issues that directly impact the country's security, development, and position.
Finally, economic diplomacy activities will be implemented towards building a synchronized ecosystem, closely coordinating between ministries and sectors to create the most favorable conditions for Vietnamese enterprises to invest and conduct business effectively in international markets.
Deputy Director General of the Department of Economic Diplomacy Luyen Minh Hong affirmed that these are the major orientations the Ministry of Foreign Affairs is actively coordinating to implement, contributing to the successful achievement of foreign economic development goals in the new phase.
