Diplomacy to accompany businesses in expanding Vietnam's development space

VIETNAM: NEW ERA

Diplomacy to accompany businesses in expanding Vietnam's development space
Opening the event, Politburo member and Minister of Foreign Affairs Le Hoai Trung said Vietnam is entering a new era of development in which foreign affairs and international integration is a crucial and regular task, contributing to maintaining a peaceful and stable environment, mobilising external resources and enhancing the country's international standing.
Politburo member and Minister of Foreign Affairs Le Hoai Trung speaks at the networking session with business community on August 6. (Photo: VNA)

Hanoi (VNA) – The Ministry of Foreign Affairs on August 6 held a networking session with business community as part of the 33rd Diplomatic Conference, providing a platform for diplomats and businesses to discuss opportunities and challenges in the new situation while enhancing coordination in support of the country's development goals.

Opening the event, Politburo member and Minister of Foreign Affairs Le Hoai Trung said Vietnam is entering a new era of development in which foreign affairs and international integration is a crucial and regular task, contributing to maintaining a peaceful and stable environment, mobilising external resources and enhancing the country's international standing.

Against the backdrop of an increasingly volatile and complex global landscape, he stressed the need for economic diplomacy to continue evolving as a driver of development, placing people and businesses at the centre of its service. It is also needed to foster new growth drivers, diversify export markets, help enterprises integrate more effectively into the global economy and improve policy advisory work.

The minister underscored that the success of businesses is also a key measure of the effectiveness of diplomacy for development. He affirmed that the ministry, together with its network of nearly 100 Vietnamese representative missions abroad, stands ready to accompany businesses and serve as a bridge for expanding international cooperation.

He said Vietnamese missions abroad will continue proactively supporting enterprises in connecting with partners, exploring new markets, attracting investment and promoting cooperation in science and technology, innovation and agriculture. They will also assist in developing new air routes, implementing practical cooperation projects, advancing cultural diplomacy and promoting Vietnamese cuisine, national image and brands, while creating more favourable conditions for Vietnamese businesses operating and investing abroad.

Trung called on participants to engage in frank and practical discussions focusing on mobilising external resources, expanding markets, building partnerships and improving coordination between businesses, the ministry and Vietnam's missions abroad.

During the first discussion session, themed "Mobilising External Resources for National Development," Permanent Deputy Minister of Foreign Affairs Nguyen Minh Vu highlighted the need to make fuller use of foreign affairs, particularly economic diplomacy and Vietnam's overseas representative network, in connecting international resources and providing policy advice.

Delegates discussed businesses' needs in attracting investment, strengthening supply chain linkages, promoting technology transfer and improving production capacity, while proposing measures to deepen cooperation with the ministry and overseas missions.

The second session, chaired by Deputy Minister Nguyen Minh Hang and themed "Vietnamese Businesses Go Global – Expanding Development Space," focused on supporting enterprises in expanding export markets and overseas investment amid changing global conditions.

Participants emphasised the importance of helping businesses access new markets, keep abreast of international standards and regulations, strengthen competitiveness, build brands and integrate more deeply into global value chains.

Throughout the event, delegates described the networking session as a practical forum enabling diplomatic agencies and businesses to openly exchange views on opportunities, challenges and solutions. Many stressed that the ministry and Vietnam's representative missions abroad play an increasingly important role in providing market intelligence, policy advice, partner matchmaking, investment and trade promotion, technology cooperation and support in addressing obstacles encountered by Vietnamese enterprises abroad./.

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