Prime Minister Pham Minh Chinh: Economic diplomacy undergoes a strong transformation for the nation’s prosperous development
WVR - The World and Vietnam Report is honoured to present an article by Prime Minister Pham Minh Chinh titled “Economic Diplomacy undergoes a strong transformation for the nation's prosperous development”.
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In the enthusiastic atmosphere as the entire nation looks forward to the 14th National Party Congress, under the leadership of the Party, the Government, along with various levels, sectors, and localities, is actively preparing to implement decisive, synchronized, and effective orientations, tasks, and solutions across fields according to the Congress Resolution. Economic diplomacy, in particular, holds special significance, contributing to “leading the way, paving the path”, attracting resources, creating opportunities, and opening up new development spaces to propel our country towards rapid and sustainable growth in the new era.
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| Prime Minister Pham Minh Chinh chairs the 2025 Economic Diplomacy Summary Conference. (Photo: Thanh Long) |
The year 2025 marks a monumental moment, celebrating 80 years since our nation regained independence, our people achieved freedom, and 50 years since our country was unified. Under the leadership of the Party and the beloved President Ho Chi Minh, the Vietnamese nation has achieved historic feats. From a country barely recognized on the world map, Vietnam today boasts increasing stature, potential, international position, and prestige. Entering a new era of development, with resilient spirit, intelligence, compassion, and the aspiration to rise, the entire Vietnamese nation is striving to set sail, steering the Vietnamese ship into vast seas.
Throughout the flow of time, on every step of the nation's progress, Vietnamese diplomacy has made significant contributions of great importance. From the early days of defending our nascent independence, fighting for the complete unification of the country, to the journey of breaking through embargoes and promoting comprehensive and deep international integration, Vietnamese diplomacy has always left a strong mark, making important contributions to “turning danger into opportunity”, “turning difficulty into ease”, “changing the situation”, and “transforming states”, establishing the most favorable diplomatic landscape for national development.
In the mid-1970s, after national unification and the restoration of peace, with strategic vision, sharp thinking, and accurate assessment of the global situation and domestic conditions, our Party soon identified economic diplomacy as necessary for post-war national recovery, as a new direction to focus on. Since then, economic diplomacy has left a strong mark on many strategic milestones of national development and integration. Notably: researching global development models and trends to advise the Party and State on economic development policies and national renewal (1980s); breaking through embargoes, normalizing relations with major financial institutions, gradually integrating internationally, attracting foreign investment, and aid from partners (1990s); “pioneering and paving the way” for the international economic integration process with many particularly important strategic milestones, significantly changing the country's face (since 1995). These are strategic milestones, opening up vast development opportunities, connecting and affirming Vietnam's important role and contribution in the regional and global economy.
The Party and State's thinking and awareness of economic diplomacy have been continuously renewed and improved to keep pace with the rapid changes of the era, meeting the new development requirements of the country. Economic diplomacy is always identified as a central, regular task in foreign activities, a fundamental, central component of Vietnamese diplomacy, and an important driving force for rapid and sustainable national development.
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| Prime Minister Pham Minh Chinh: Innovating economic diplomacy is no longer a choice but has become an objective demand of reality, an urgent requirement, a strategic choice, and one of the top priorities to realize the nation's aspiration for prosperous development. |
Since the beginning of the term, over the past five years, the global context has been unstable, uncertain, and more unfavorable than the previous period; challenges and opportunities are intertwined, but challenges are more prevalent. However, with high determination, great effort, and decisive action from the entire Party, people, and army, our country has achieved many important, proud, and historically significant development achievements across all fields.
The economy increasingly demonstrates better resilience against external shocks; in 2025, GDP growth reached 8.02%, among the highest growth rates in the region and the world, especially with macroeconomic stability maintained, inflation controlled, and major economic balances ensured.
The economic scale in 2025 reached approximately 514 billion USD, with GDP per capita estimated at 5,026 USD, placing Vietnam among upper-middle-income countries. Traditional growth drivers have been effectively harnessed; Vietnam ranks among the top 15 developing countries globally in attracting foreign investment and the top 20 countries globally in trade scale.
New growth drivers have made significant progress; digital economy and ICT industry growth rates outpace GDP; our country leads the global innovation index among countries with similar income levels; initial strategic, breakthrough progress has been made in several cutting-edge technology fields such as artificial intelligence, high-speed rail, semiconductors, nuclear energy, and high-quality human resource development.
Cultural and social fields are increasingly developing; environmental protection is prioritized; social security is ensured; the material and spiritual life of the people is continuously improved. National defense and security potential is consolidated and strengthened; national independence, sovereignty, and territorial integrity are maintained; social order and safety are ensured.
Notably, foreign affairs and international integration are bright spots amid global difficulties; economic diplomacy has achieved many impressive results.
Technological diplomacy is being promoted, contributing to breakthroughs in science, technology, innovation, digital transformation, and building an independent, self-reliant economy linked with deep, substantive, and effective international integration. Vietnam's international prestige and position are increasingly elevated in the global economy, global politics, and human civilization.
To date, Vietnam has signed and participated in 17 Free Trade Agreements (FTAs); has diplomatic relations with 194 countries, including all United Nations members; has established comprehensive partnership frameworks with 42 countries, including 17 G20 members, and has comprehensive strategic partnerships with all 5 permanent members of the United Nations Security Council.
Vietnam holds many important multilateral responsibilities, such as being re-elected to the United Nations Human Rights Council for the 2026 - 2028 term, hosting the ASEAN Future Forum, the 4th P4G Summit, the signing ceremony of the Cybercrime Convention, and more.
To achieve these accomplishments, the diplomatic sector in general and economic diplomacy in particular have made extremely important, practical, and effective contributions.
Firstly, diplomacy has contributed to maintaining a stable and favorable environment, expanding the development space of the country, deepening economic cooperation, and increasing the connection of interests with partners, especially neighboring countries, major countries, and traditional friends.
Secondly, attracting external resources for national development, expanding and diversifying markets, attracting investment, transferring knowledge and technology, and leveraging the strength of the overseas Vietnamese community. Notably, the decisive and rapid implementation of "vaccine diplomacy" has directly and significantly contributed to the prevention, control, and containment of the Covid-19 pandemic, creating favorable conditions for economic and social recovery and development.
Thirdly, playing a pioneering role in promoting international economic integration and connectivity, especially enhancing and elevating Vietnam's participation and contribution in multilateral economic cooperation mechanisms, proactively participating in the construction of new international laws and regulations; at the same time, effectively utilizing the network of free trade agreements, making Vietnam a regional connectivity hub.
Simultaneously, economic diplomacy has accompanied and supported localities and enterprises in implementing external economic activities and international economic integration, bringing important and practical benefits and results.
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| On the morning of January 14, Prime Minister Pham Minh Chinh highlighted one of the key tasks as enhancing the quality of economic integration to serve the development of strategic fields, including science and technology, national defense, culture, and more. (Photo: Nhat Bac) |
Entering a new development phase, in the context of a world forecasted to continue experiencing complex and unpredictable developments, overall, challenges are expected to outweigh opportunities and advantages; economic diplomacy faces the demand for a strong transformation to accompany the determination to successfully achieve the country's two strategic centennial goals. The draft document of the 14th National Party Congress emphasized "promoting comprehensive diplomacy for development, focusing on economic diplomacy and technological diplomacy".
In this context, innovating economic diplomacy is no longer a choice but has become an objective demand of reality, an urgent requirement, a strategic choice, and one of the top priorities to realize the nation's aspiration for prosperous development.
Accordingly, future economic diplomacy faces three major responsibilities: First, contributing to creating strategic space for the nation to enter an era of wealth, civilization, and prosperity. Second, leveraging its role as an important driver to attract resources, resolve bottlenecks, and address major challenges to create breakthroughs in national growth and development, especially in promoting science, technology, innovation, digital transformation, and green transformation. Third, building an independent and self-reliant economy while proactively and positively integrating internationally.
With the motto "Resources originate from thinking and vision; motivation comes from innovation and creativity; strength arises from the people and businesses", economic diplomacy and technological diplomacy in the coming period need to internalize "three important lessons" while strongly innovating thinking; updating goals, content, targets, and implementation methods, closely following the "five more principles".
Among them, "three important lessons" are: First, steadfastly adhere to the path of national independence and socialism; firmly maintain an independent, self-reliant, multilateral, and diversified foreign policy, proactively and positively integrating internationally, being a friend, a reliable partner, and a responsible member of the international community. Second, be resolute but flexible, protect national interests but also be adaptable in implementation to achieve goals. Third, thoroughly understand and deeply grasp the situation; provide timely, flexible, appropriate, and effective policy advice.
"Five more principles" are: First, more strategic and sensitive in thinking to timely identify new trends, proactively seize opportunities, contributing to enhancing the economy's adaptability. Second, more focused and prioritized in setting goals and solutions, based on closely following the country's development objectives in each period. Third, broader and deeper in overall relations with partners and in each field of cooperation, especially in science, technology, innovation, and digital transformation. Fourth, more decisive and creative in implementation, ensuring clear task assignments, achieving substantive effectiveness in the spirit of "six clears: clear person, clear task, clear responsibility, clear authority, clear time, clear result". Fifth, more proactive and responsible in participating and contributing to cooperation mechanisms, international economic forums, and international and regional issues of strategic importance, suitable to our requirements, capabilities, and conditions, especially in global economic governance.
Above all, foreign affairs, especially in the field of economic diplomacy, must maximize the spirit of "Loyalty, dedication", "Confidence, creativity", "Bravery, flexibility", "Negotiation, persuasion", "Top efficiency", and "Nation first"; with the motto of looking far, thinking deeply, acting big, valuing time, intelligence, and decisive action at the right moment, continuing to be a pioneering force, a core bringing new opportunities, new motivations, and new resources from outside to serve rapid and sustainable national development, enhancing Vietnam's prestige and position on the international stage.
Entering a new development phase, foreign affairs in general and economic diplomacy, in particular, need to focus on thoroughly implementing, decisively, and effectively the 14th National Party Congress Resolution, the Party, National Assembly, and Government Resolutions, especially the Politburo's Resolution 59 on international integration in the new situation. In which, emphasis is placed on promoting economic, trade, investment, science and technology cooperation, digital transformation, green transformation, energy transition, education and training, healthcare, culture, labor, tourism, environmental protection, and climate change response.
Promoting technology transfer in key economic sectors such as nuclear energy, high-speed rail, semiconductors (by the end of 2027, completing the construction of a semiconductor chip manufacturing plant). Implementing synchronized solutions to diversify markets, products, and supply chains; focusing on exploiting and utilizing potential markets; promoting and advertising Vietnamese brand products abroad; urgently negotiating and signing Free Trade Agreements (FTAs) with countries in the Middle East, Central Asia, Africa, and Latin America...
Prioritizing support for localities, business communities, especially small and medium-sized enterprises in economic integration, international cooperation, and linkage; actively supporting businesses to expand investment and business ventures into international markets, participating more deeply in global value chains; strongly attracting investment from major technology corporations and Vietnamese experts abroad.
At the same time, the Foreign Ministry, along with various levels, sectors, and localities, needs to continue closely coordinating, advising, and proposing to competent authorities mechanisms, policies, and solutions to create breakthroughs in foreign relations, especially strongly promoting economic diplomacy and technological diplomacy activities to successfully achieve the double-digit growth target in 2026 and beyond.
In this overall picture, we need to have a correct understanding, decisive action, and relentless effort to create breakthroughs in science, technology, innovation, and strongly promote green transformation in the digital era. This is the key driver and the "golden key" for Vietnam to catch up, keep pace, and surpass, developing rapidly and sustainably, successfully achieving the two strategic centennial goals, striving to become a developed, high-income country by 2045.
In this process, we continue to comprehensively promote the renewal process, always creating, accompanying, focusing on solving difficulties and obstacles in various fields, promoting administrative reform, removing all institutional, infrastructure, and human resource bottlenecks, so that science, technology, innovation, digital transformation, and green transformation truly become new drivers and resources, encouraging the entire nation to advance steadily in the new era.
The nation's achievements after 80 years of construction and development lay an important foundation and a favorable starting point for the nation's new journey.
Under the leadership of the Party, with the spirit of solidarity, unity, and consensus of the entire nation, based on thoroughly grasping and closely following the motto "creating and maintaining a peaceful, stable environment, pioneering connectivity and cooperation, unlocking and attracting development resources, continuously enhancing the nation's position" as directed by General Secretary To Lam, we have firm confidence that foreign affairs in general and economic diplomacy in particular in the coming period will further promote the good traditions and important results achieved; with the spirit of "serving localities, businesses, and people as the centre; taking national interests as the guiding principle"; continue to strive to overcome difficulties and challenges; excellently fulfill the mission and tasks assigned by the Party and State, contributing to building a solid foundation for the country's rapid and sustainable development, bringing prosperity and happiness to the people.
