Vietnam External Affairs Policy towards 2020

This was the focus of a conference held recently in Hanoi by the Vietnam Chamber of Commerce and Industry (VCCI) and Institute for International Relations under the Ministry of Foreign Affairs.  

 

Participants at the conference agreed that Vietnam has gained fruitful results in diplomatic relations over the past years. The country has worked out proper strategies and policies for development of diplomatic relations such as the issuance of Law on encouragement of domestic investment, the law on encouragement of foreign investment, and other tax policies… In addition, administrative reforms have created favourable conditions for foreign investors operating in Vietnam and helped the country lure more foreign investment flows. 

 

Talking about the national policy on external affairs towards 2020, enterprises suggested that the national foreign affairs policy should not only ensure national security and sovereignty but also help strengthen relations with foreign countries worldwide so as to further develop the national economic development and global integration. Notably, the country attaches special importance to diplomatic relations with powerful countries namely the US, Japan, Russia, South Korea, China….Moreover; the country also pays attention to administrative reforms and improvement of investment environment to attract foreign investors. 

 

Besides boosting multilateral relations with powerful countries, participants said the country should intensify relations with the Middle East, Africa and India. Cultural and tourism exchange programmes and conferences should be held more often to introduce transparent and open policy of Vietnam to businesses and investors from developing countries; official visits of Party and State leaders should not only focus on politics and society but also on economic development. Vietnamese embassies in foreign countries should work as reliable legal and spiritual consultants for businesses. The country’s commercial counselors abroad should be an important bridge to link Vietnamese businesses and foreign partners... 

 

An important issue that participants mentioned was that businesses should renovate themselves, develop internal forces, and cooperate with other businesses to set up powerful economic groups so as to better compete with foreign leading companies and groups.