Vietnam PM Calls Economic Diplomacy a Top Priority for Strong, Prosperous Development

Hanoi, The Gulf Observer: Prime Minister Phạm Minh Chính has underscored that renewing economic diplomacy is no longer optional but an objective requirement of reality, an urgent necessity, a strategic choice and one of the top priorities for realising Việtnam’s aspiration for strong and prosperous development.

The Prime Minister made the remarks in an article titled “Economic diplomacy makes a vigorous transformation for the nation’s strong and prosperous development.” He wrote that as the country moves toward the 14th National Congress of the Communist Party of Việtnam, ministries, sectors and localities are actively preparing to implement orientations, tasks and solutions across multiple fields under the leadership of the Party and the Government.

In this context, economic diplomacy holds special significance by helping to “lead the way and open paths,” attract resources, create opportunities and open up new development space to drive rapid and sustainable growth in the new era.

Reviewing the past five years of the current term, PM Chính noted that the global environment has become more unstable and uncertain, with challenges outweighing favourable conditions. However, thanks to strong determination, great efforts and resolute action by the entire Party, people and armed forces, Việt Nam has achieved numerous important and historically significant accomplishments across all fields. The economy, he said, has demonstrated growing resilience to external shocks.

In 2025, Việt Nam’s GDP growth reached 8.02 per cent, placing the country among the high-growth economies in the region and globally. The size of the economy was estimated at about US$514 billion, with GDP per capita reaching US$5,026, moving Việt Nam into the upper middle-income category. The country ranked among the world’s top 15 developing economies in attracting foreign direct investment and among the top 20 globally in terms of trade scale.

The Prime Minister praised foreign affairs and international integration as bright spots amid global geopolitical uncertainty, highlighting the strong contributions of economic diplomacy. He said technology diplomacy had also been strengthened, creating breakthroughs in science and technology development, innovation, digital transformation and the building of an independent and self-reliant economy closely linked with deep and effective international integration.

According to the article, Việt Nam’s international prestige and standing continue to rise. To date, the country has signed and participated in 17 free trade agreements, established diplomatic relations with 194 countries, including all United Nations members, and set up comprehensive partnership or higher frameworks with 42 countries, including 17 G20 members. Việt Nam also maintains comprehensive strategic partnerships with all five permanent members of the UN Security Council.

Việt Nam has assumed many important multilateral responsibilities, including being re-elected to the UN Human Rights Council for the 2026–28 term, hosting the ASEAN Future Forum, the fourth Partnering for Green Growth and the Global Goals 2030 (P4G) Summit, and hosting the signing ceremony of the UN Convention against Cybercrime.

PM Chính commended the diplomatic sector, particularly economic diplomacy, for making highly important and effective contributions by deepening economic cooperation, enhancing convergence of interests with partners, attracting external resources for development and playing a pioneering role in promoting international economic integration and connectivity.

He noted that draft documents of the 14th National Party Congress emphasise the need to promote comprehensive diplomacy in service of development, with a focus on economic and technology diplomacy.

Looking ahead, the Prime Minister outlined three major responsibilities for economic diplomacy. First, it must help shape a strategic space for Việt Nam to enter a new era of strong, civilised and prosperous development. Second, it should serve as a key driving force in attracting resources, removing bottlenecks and addressing major challenges, particularly in science and technology, innovation, digital transformation and the green transition. Third, it must contribute to building an independent and self-reliant economy while actively advancing international integration.

Guided by the principle that “resources stem from thinking and vision; momentum stems from renewal and innovation; strength stems from the people and businesses,” PM Chính said economic and technology diplomacy should focus on three priorities: steadfastly upholding national independence and socialism while pursuing a foreign policy of multilateralisation and diversification; remaining firm yet flexible in safeguarding national interests; and closely monitoring developments to provide timely, appropriate and effective policy advice.

As Việt Nam enters a new stage of development, external affairs—especially economic diplomacy—should focus on effectively implementing the Resolution of the 14th National Party Congress and key resolutions of the Party, National Assembly and Government, including Politburo Resolution 59 on international integration in the new context.

Priority areas include cooperation in trade, investment, science and technology, digital and green transitions, energy transition, education, health care, culture, labour, tourism, environmental protection and climate change response. The Prime Minister called for stronger efforts to promote technology transfer in key sectors such as nuclear energy, high-speed rail and semiconductors, with the aim of completing a semiconductor chip manufacturing plant by the end of 2027.

He also urged the diversification of markets, products and supply chains, stronger promotion of Vietnamese products overseas, and faster negotiations and signing of FTAs with partners in the Middle East, Central Asia, Africa and Latin America. Priority support should be extended to localities and the business community, particularly small and medium-sized enterprises, in economic integration and international cooperation.

PM Chính called on the foreign affairs sector, in close coordination with ministries, sectors and localities, to continue proposing mechanisms, policies and solutions to create breakthroughs in external relations, especially through economic and technology diplomacy, to help achieve double-digit growth targets in 2026 and beyond.

He stressed the need for resolute action and unremitting efforts to create breakthroughs in science, technology, innovation and the green transition in the digital era, describing these as the key driving forces and the “golden key” for Việtnam to achieve rapid and sustainable development and realise its goal of becoming a developed, high-income country by 2045.