Deputy Foreign Minister Bui Thanh Son, chief organizer of WEF-ASEAN 2018 and Børge Brende, President of the World Economic Forum (Photo: VNA)

The relationship between Vietnam and the World Economic Forum began in 1989, when Vietnam embarked on its renewal process. The WEF provides forum for the leaders of Vietnam and international groups to share ideas on economic reform and brings investment opportunities for Vietnam’s economic development.

Vibrant cooperation

Over the past 3 decades, Vietnam has proposed new ideas and implemented practical cooperation plans. 2 years ago, Vietnam hosted the World Economic Forum on the Mekong Region in Hanoi. In 2010, the World Economic Forum on East Asia was held in Ho Chi Minh City, a predecessor of the World Economic Forum on ASEAN. Vietnamese Ambassador to Germany Doan Xuan Hung, who has forged cooperation projects between Vietnam and the World Economic Forum, said: “This type of cooperation is beneficial to Vietnam as it gives us the chance to win international resources for our development. This is in line with Vietnam’s policy on economic diplomacy. All our diplomatic channels serve national development. Membership in these global organizations is useful for Vietnam’s development and higher national profile. Foreign friends will better understand Vietnam and we will make full use of external resources for national growth.”

First country to be WEF public-private partner

Cooperation between Vietnam and the World Economic Forum has entered a new period with the signing of an agreement of public-private partnership in 2017. The deal aims to make Vietnam self-reliant during the 4^th industrial revolution. Vietnam was the first country to join the public-private partnership which the WEF hopes will be a role model for other countries. Both sides are actively implementing the agreement in economics, digitization, trade, and infrastructure. Deputy Foreign Minister Bui Thanh Son said: “The agreement has been carried out in detail over the past 2 years. The WEF has helped with 6 pillars of cooperation and consulted with us on policy making during the 4^th Industrial Revolution. Vietnam’s leaders attended recent WEF meetings, the annual Davos meeting, and other meetings. We have shared our experience in socio-economic reform and reform of the growth model, winning international acclaim.”

The 3-day World Economic Forum on ASEAN will comprise 60 rounds of discussions, in which attendees will address challenges of the 4^th Industrial Revolution.