Trần Lưu Quang, Chairman of the Party Central Committee's Economic Commission, and visiting Prof. Klaus Schwab, Founder and Executive Chairman of the World Economic Forum (WEF), at the meeting in Hà Nội on Tuesday. -- VNA/VNS Photo

HÀ NỘI -- Trần Lưu Quang, Chairman of the Party Central Committee's Economic Commission, received visiting Prof. Klaus Schwab, Founder and Executive Chairman of the World Economic Forum (WEF), in Hà Nội on Tuesday.

Commending Việt Nam’s economic policy framework targeting fast and sustainable development, Schwab noted that the Southeast Asian nation has made solid strategy and policy preparations to adapt to and capitalise on emerging global trends.

He stressed that the coming era will be one of a smart economy that combines knowledge, digital technology, data, and artificial intelligence (AI), introducing new industries and sectors. Nations that quickly switch to a smart economy based on knowledge, digital technology, and AI will be at the forefront of growth.

Establishing an efficient and effective startup ecosystem will be essential, he added.

Quang told his guest that Việt Nam has prepared new guidelines, policies, approaches, and thinking to leverage global trends and transformations. However, their implementation remains challenging.

The country is focusing on improving its economic regulations, developing supportive policies for businesses, and addressing human resource needs to meet the demands of the new era and respond to climate change, he noted.

At the meeting, Quang and Schwab also discussed Việt Nam’s economic development, opportunities, challenges, and issues that need to be solved for it to adapt to global trends and grow stronger in the future. -- VNS