Prime Minister Pham Minh Chinh speaks at the policy dialogue session "Vietnam's New Era: From Vision to Action". Photo: VOV

The session entitled "Vietnam’s New Era: From Vision to Action" was moderated by WEF President and CEO Børge Brende and attended by policymakers and business leaders from around the world. 

Replying to a question about the geopolitical impacts on Vietnam’s development, Prime Minister Chinh said, “Vietnam has a balance based on the foreign policy principle of independence, self-reliance, but diversification and multilateralization, being a good friend, a reliable partner with all countries in the world and a responsible member of the international community."

"Vietnam pursues a defense policy of four no's: no military alliances, no siding with one country against another, no foreign military bases or use of the Vietnamese territory to oppose other countries, and no use of force or threat to use force in international relations.”

The Prime Minister also said that Vietnam focuses on diversifying markets, products, supply chains and production. Vietnam is a good trading partner of China, the US, the EU, the Republic of Korea, Japan and other ASEAN countries.

Although in a balanced position, Vietnam is not complacent and is well-prepared with calm, confidence, grit, patience, and persistence, he said and answered a question about Vietnam's policy priorities to ensure economic autonomy while continuing to deeply integrate into the global economy.

“We are determined to build an independent, self-reliant economy based on the Vietnamese people. Second, based on Vietnam’s nature. Third, based on the glorious historical and cultural traditions of more than 4,000 years. We determine that internal resources are fundamental, long-term, and decisive, but external resources are also very important, and breakthroughs are capital, market economy mechanism, technology, management and human resources.”

No matter how challenging the current world situation or the coming decades will be, each country’s correct mindset and creative application plus a suitable international context, will provide the best solution, the Prime Minister added.