Prime Minister Phạm Minh Chính (left) and the Founder of the World Economic Forum (WEF) Klaus Schwab witnessed the signing of the Việt Nam-WEF Memorandum of Understanding for cooperation in the period 2023-2026. — VNA/VNS Photo Dương Giang

TIANJIN – Vietnamese Prime Minister Phạm Minh Chính hosted a reception on June 26 for founder and Executive Chairman of the World Economic Forum (WEF) Prof. Klaus Schwab, within the framework of the 14th Annual Meeting of the New Champions (AMNC) of the WEF in Tianjin, China.

They discussed the global economic situation, emerging development trends, Việt Nam’s socio-economic achievements and its cooperative relations with the WEF.

Sharing Việt Nam's economic situation and prospects, PM Chính stressed that Việt Nam would consistently pursue the goal of maintaining macro-economic stability and promoting growth.

He suggested the WEF continue partnering with Việt Nam and supporting its connection with WEF member businesses, assisting Việt Nam in attracting high-quality investments, particularly in hi-tech, energy transition, digital transformation and strategic infrastructure. Additionally, he urged the WEF to enhance the exchange of views on the global development trends and offer policy advice to help Việt Nam improve its competitiveness and business environment in adaptation to new regulations and trends.

Prof. Schwab said Việt Nam’s presence at the WEF meeting in Tianjin brought an optimistic story of economic recovery in the face of global challenges.

Expressing his impression of Việt Nam's socio-economic achievements and macro-economic stability, he stressed his strong commitment to boosting cooperation with Việt Nam and working closely with relevant agencies to propose and launch practical joint projects which are in line with Việt Nam's interests and WEF’s strengths.

While discussing major topics of the upcoming annual WEF meeting in Davos, Switzerland, scheduled for January 2024, the two sides agreed that technology and artificial intelligence (AI), particularly the application of new technologies and AI in manufacturing, services, agricultural development and skill training should be the key focuses of the meeting.

Prof. Schwab expressed his impression of the dynamism of Việt Nam's young generation amid technological advancements, considering it one of Việt Nam's significant competitive advantages.

He extended an invitation to PM Chính to attend the WEF meeting in January 2024 in Davos. The Vietnamese PM also invited Prof. Schwab and WEF leaders to visit Việt Nam soon to deliver speeches and inspire the Vietnamese youth about the emerging development trends in the world. Both sides agreed to arrange these visits in the near future.

On this occasion, Vietnamese Minister of Foreign Affairs Bùi Thanh Sơn and WEF President Borge Brende signed a Memorandum of Understanding (MoU) on cooperation between Việt Nam and the WEF for the 2023-2026 period in the witness of PM Chính and Prof. Schwab.

The MoU will serve as an important foundation to boost cooperation between Việt Nam and the WEF in the new period, focusing on six key areas of innovation in food, skill development for innovation and green transformation, zero-emission industrial clusters; plastic actions, including the Global Plastic Action Partnership (GPAP); finance for renewable energy transition, digital transformation cooperation and the establishment of the fourth industrial revolution centre.

The signing of the MoU will enable Việt Nam to access resources, experience and join the WEF’s global programmes, thereby establishing a comprehensive ecosystem to drive new growth engines, attract investment and improve national competitiveness. — VNA/VNS