Prime Minister Pham Minh Chinh welcomes Professor Klaus Schwab, Founding Chairman of the World Economic Forum (WEF) at Vietnam National University, Hanoi. Photo: Duong Giang/VNA

At a meeting with Founder and Executive Chairman of the World Economic Forum (WEF) Prof. Klaus Schwab in Hanoi on Monday, PM Chinh called for the WEF’s assistance for Vietnam in developing a startup and innovation ecosystem, thus making it easier for young businesses to develop and integrate into the global value chain.

The PM applauded Schwab’s strategic vision in founding the WEF in 1971, saying that over more than five decades, the forum has affirmed its leading role and reputation in the globe in not only initiating and capturing new global trends but also pioneering in proposing future solutions.

The Vietnamese leader called on the WEF to collaborate with Vietnam to make the Centre for the Fourth Industrial Revolution (C4IR) in Ho Chi Minh City one of the exemplary models within the WEF’s network, serving as a motivation for applying advanced technologies in key sectors of the economy.

Prof. Schwab expressed his admiration for Vietnam's significant changes and strong development. He commended the performance of the Vietnamese Government, especially in maintaining impressive economic growth in recent years despite difficulties facing the global economy.

He said that with its prospects and outstanding socio-economic achievements, Vietnam is likely to become a 2-trillion-USD economy by 2050.