Vietnamese Prime Minister Phạm Minh Chính participates in the seminar on the future of global trade and development in the smart era (moderated by UNCTAD Secretary-General Rebeca Grynspan) in Davos. — VNA/VNS Photo

DAVOS — Vietnamese Prime Minister Phạm Minh Chính attended and delivered a keynote speech at the seminar on the future of global trade and development in the smart era, in Davos on January 21 afternoon (local time).

Held within the framework of the 55th annual meeting of the World Economic Forum (WEF) and bilateral activities in Switzerland, the seminar was designed exclusively for Việt Nam by the WEF, serving as a platform to shape the agenda for the 16th session of the United Nations Conference on Trade and Development (UNCTAD16) to be hosted by Việt Nam later this year.

The event was moderated by UNCTAD Secretary-General Rebeca Grynspan and attended by senior leaders and representatives from international organisations such as the World Trade Organisation (WTO), the Organisation for Economic Cooperation and Development (OECD), the International Fund for Agricultural Development (IFAD), the World Intellectual Property Organisation (WIPO), and the International Renewable Energy Agency (IRENA), along with distinguished scholars and international experts.

UNCTAD Secretary-General Rebeca Grynspan opened the event by praising Việt Nam's impressive 30-year track record of 7 per cent economic growth. She affirmed that hosting UNCTAD16 in Việt Nam, a dynamic and open economy, marks a significant turning point for UNCTAD's new development phase.

Amid mounting risks faced by global trade, including protectionism, competition and potential trade wars, she and guest speakers called on countries to enhance cooperation, openness, integration and reinforce multilateral trade for mutual growth, reduce inequality and ensure that no one is left behind.

Sharing the same view, PM Chính also called for a people-centred inclusive and global approach, and urged countries to jointly fight protectionism and boost multilateral trade for development.

In his view, it is necessary to fully embrace the "smart era", focusing on geopolitical and security, economic, environmental and social dimensions.

He highlighted Việt Nam's commitment to preparing its resources for the new era with an approach rooted in thinking and vision, with motivation stemming from innovation, and with strength derived from the people and businesses.

Việt Nam attaches importance to hosting UNCTAD16, welcoming delegates from around the world, he said, adding that the chosen venue will showcase the country's rich cultural heritage and values, offering participants a unique opportunity to share ideas, engage in meaningful dialogues and explore Việt Nam's landscapes and its people.

Việt Nam's remarkable socio-economic achievements were widely recognised, particularly its effective involvement in global supply chains and enforcement of the "leaving no one behind" policy. These have been most notable in agriculture and rural development as well as Việt Nam's entry into the top 15 of the Global Innovation Index. The country has emerged as a global model for innovation and adaptability in response to global economic disruptions.

Representatives of international organisations provided strategic recommendations for Việt Nam's continued progress, including leveraging the dynamic and creative Vietnamese youth, transforming foreign investment into tangible benefits for sustainable growth, and harnessing innovation as a driver to escape the middle-income trap.

Delegates expressed confidence that with Việt Nam's experience in holding multilateral conferences, UNCTAD 16 will be a convergence of new development momentum, creating a ripple effect and driving global trade and development in the new era. — VNA/VNS