[Vietnamization] Multiple outcomes reaped from Vietnam’s attendance in WEF-ASEAN

Prime Minister Nguyen Xuan Phuc speaks at the closing session of the WEF-ASEAN 2017 

Multiple outcomes reaped from Vietnam’s attendance in WEF-ASEAN

Vietnam has gained practical outcomes from its participation in the freshly-concluded 26th World Economic Forum on ASEAN (WEF-ASEAN) in Cambodia, according to Deputy Foreign Minister Dang Dinh Quy.

Vietnam Net Bridge | 14 May 2017

The Vietnamese delegation, led by Prime Minister Nguyen Xuan Phuc, arrived in Hanoi on May 12 afternoon, wrapping up a trip to attend the WEF-ASEAN at the invitation of WEF Executive Chairman Klaus Schwab.

Quy said unlike the previous forums, this year’s WEF-ASEAN was significant since it took place amid the 50th founding anniversary of ASEAN and a number of challenges facing the region, especially in globalisation, economic connectivity and the Fourth Industrial Revolution. To Vietnam, the event was where it received the role as the host of the WEF-ASEAN 2018.

Highlighting forum attendance benefits, he elaborated that Vietnam popularised its resolve to boost comprehensive reforms, economic restructuring and growth model shifting; policies and efforts to build a development facilitating Government, step up business climate improvement, and encourage start-up and innovation; and its determination to integrate into the world despite unfavourable global situation.

A series of meetings hosted by PM Phuc connected leading enterprises of the region and the world with Vietnam’s business circle. Two major events were held specifically for Vietnam, gathering many major firms such as Visa, Golden Gates Ventures & Bragiel Brothers, Marsh, OPTrust, Unison Capital, Mitsubishi, Development Bank of Japan, Hanwha, Standard Chartered, Geneva Swiss Bank, Temasek, and Eastspring Investments.

On this occasion, the PM also invited leaders of WEF member businesses to take part in activities of APEC Vietnam 2017, Quy said.

He added the presence in the WEF-ASEAN 2017 helped to promote Vietnam’s image as an active, proactive and responsible member of the ASEAN Community.

As this year’s forum focused on impacts of technology on growth and employment in ASEAN, it was a good occasion for Vietnam to learn about the world’s and the region’s evaluations of ASEAN and its member nations, and to realise new development trends, especially the regional countries’ actions to adapt to the Fourth Industrial Revolution. That will help Vietnam design and carry out its own development strategies, the official noted.

Quy added PM Phuc’s participation in the WEF-ASEAN in Cambodia only more than two weeks since his official visit to the country showed Vietnam’s support to the WEF’s activities as well as Cambodia, which hosted this event for the first time. Senior leaders of Cambodia also highly regarded the Vietnamese PM’s presence, which was believed to have substantially contributed to bilateral friendship.

The Deputy Minister said the hosting of the WEF-ASEAN next year is expected to be a chance for Vietnam to promote itself further to the region and the world, helping to foster global businesses’ interest in Vietnam.

It will be a precious opportunity to bolster dialogue and connectivity between Vietnamese enterprises and their partners from around the globe, he said, noting that Vietnam also hopes this event will encourage entrepreneurship and businesses’ engagement in national development.

The hosting of the WEF-ASEAN 2018 is part of multilateral external activities between 2016 and 2020. It realises Vietnam’s foreign policy of active and proactive international integration and being a friend, a trustworthy partner and a responsible member of the international community, Quy added.