Davos, January 22, 2025 – The Europe Today: Vietnamese Prime Minister Phạm Minh Chính delivered a keynote address at the seminar on the future of global trade and development in the smart era, held during the 55th annual meeting of the World Economic Forum (WEF) in Davos, Switzerland.
The seminar, organized exclusively for Việt Nam by the WEF, serves as a precursor to the 16th session of the United Nations Conference on Trade and Development (UNCTAD16), which Việt Nam will host later this year.
A Platform for Global Cooperation
The event, moderated by UNCTAD Secretary-General Rebeca Grynspan, brought together senior leaders from international organizations, including the World Trade Organization (WTO), Organisation for Economic Cooperation and Development (OECD), International Fund for Agricultural Development (IFAD), World Intellectual Property Organization (WIPO), and International Renewable Energy Agency (IRENA). Esteemed scholars and experts also participated.
Opening the seminar, Grynspan lauded Việt Nam’s economic resilience, highlighting its three-decade track record of 7% annual growth. She emphasized that hosting UNCTAD16 in Việt Nam—a dynamic and open economy—represents a milestone in the organization’s development efforts.
Global Trade Amid Rising Challenges
Speakers at the event addressed critical challenges facing global trade, including protectionism, competition, and the risk of trade wars. They called for enhanced international cooperation, integration, and the reinforcement of multilateral trade to foster equitable growth and reduce inequality.
Vietnam’s Vision for the Smart Era
Prime Minister Chính underscored the need for a people-centered, inclusive global approach to trade and development. He urged nations to combat protectionism and bolster multilateral trade as a pathway to sustainable progress.
Highlighting Việt Nam’s preparedness for the “smart era,” Chính detailed the country’s strategy, rooted in innovation and driven by the strength of its people and businesses. He reaffirmed Việt Nam’s commitment to hosting UNCTAD16, presenting the event as an opportunity to showcase the nation’s rich cultural heritage while fostering dialogue and collaboration among global leaders.
Recognition of Việt Nam’s Achievements
Việt Nam’s socio-economic progress was widely acknowledged during the seminar. Notable achievements include its effective integration into global supply chains, a commitment to inclusive growth, and its entry into the top 15 of the Global Innovation Index. Delegates recognized Việt Nam as a global model for innovation and adaptability in addressing economic disruptions.
Strategic Recommendations for Việt Nam
Representatives from international organizations provided insights for Việt Nam’s continued growth, emphasizing the importance of harnessing its dynamic youth, leveraging foreign investments for sustainable development, and using innovation as a key to overcoming the middle-income trap.
Looking Ahead to UNCTAD16
Delegates expressed confidence that UNCTAD16, under Việt Nam’s stewardship, will generate new momentum for global trade and development. The conference is expected to serve as a platform for transformative ideas and initiatives that will shape the future of global trade in the smart era.
