Promoting growth through economic diplomacy

(ĐN)- In 2024, Vietnam, including Dong Nai province, saw vibrant diplomatic activities aimed at boosting economic development. Numerous international cooperation agreements and programs were signed, enhancing Vietnam’s global standing.

At the 2024 Economic Diplomacy Review Conference, Prime Minister Pham Minh Chinh emphasized that achieving double-digit economic growth depends on breakthroughs in economic diplomacy.

Businesses seek cooperation opportunities at Vietnam-Japan Trade Connection Conference 2024 organized by the provincial People’s Committee.

Vietnam actively renewed traditional growth drivers like trade, investment, tourism, and labor cooperation with major markets, while exploring new markets. This helped push the country’s total import-export turnover to $800 billion and ranked its exports among the world’s top 30.

Looking ahead to 2025, Vietnam plans to focus on signing new free trade agreements and strengthening business connections with global partners. Leading multinational corporations such as Apple, Intel, Samsung, Nvidia, and LG have expanded investments in Vietnam, with Nvidia recently partnering with the government to establish an AI research and data center.

Dong Nai has also prioritized international cooperation, signing 41 memoranda of understanding with 12 countries. In 2024 alone, the province signed five provincial-level international agreements and four at the departmental level, while facilitating foreign investment and trade promotion activities. Dong Nai’s exports reached nearly $24 billion in 2024, an 11% increase.

Despite achievements, challenges remain in fully leveraging upgraded partnerships and strategic economic cooperation. Prime Minister Pham Minh Chinh stressed that economic diplomacy must be central to all foreign affairs, especially at high levels, to navigate complex global dynamics.

To reach high-income status by 2045, Vietnam aims for 8% growth in 2025 and double-digit growth thereafter, with economic diplomacy playing a vital role.

Dong Nai’s Vice Chairwoman Nguyen Thi Hoang highlighted the province’s focus on attracting high-tech, environmentally friendly projects in aerospace, semiconductors, AI, automation, and IT. Dong Nai has allocated significant land for industrial zones and high-tech parks, seeking continued government support to attract advanced technology investors.

Reported by V.Gia