Vietnam strongly supports efforts made by the International Organization of Francophonie (OIF) to promote economic cooperation in the Francophone world in an increasingly efficient manner and towards new heights.
Deputy PM Pham Binh Minh (second from right) and OIF Secretary General Louise Mushikiwabo (second from left) attend the high-level Vietnam - Francophone economic forum in Hanoi on March 24. (Photo: VGP)
Deputy Prime Minister Pham Binh Minh made the statement at a Vietnam-Francophone economic forum in Hanoi on March 24.
He noted that the Francophone economic space that has approximately 1.2 billion people and accounts for 16% of global GDP and 20% of global trade, has great potential for developing economic cooperation, especially when all OIF member states are making every effort for socio-economic recovery and development.
As an active and responsible member, Vietnam will continue to strongly support and actively participate in the OIF’s efforts to strengthen economic cooperation for prosperity and sustainable development of its members, said Minh.
He briefed the forum on the government’s economic recovery plans, saying the country has moved to the stage of safe, flexible adaptation and effective control of COVID-19 since October 2021 and reopened its borders to international tourism since March 15, 2022.
The government has introduced policies to remove difficulties and promote production and business. It has particularly adopted the socio-economic recovery programme aimed at improving health care capacity, ensuring social security, supporting business recovery, accelerating institutional reform, and improving business - investment environment.
As a result, he said the national economy expanded 5.22% in the fourth quarter of 2021 after recording a 6.17% contraction in the third quarter, raising the GDP growth for the whole year to 2.58%. Meanwhile, FDI capital last year also reached more than US$31 billion, an increase of over 9% compared to 2020.
The Deputy PM partly attributed those gains to businesses’ contributions, and affirmed the government creates the best possible conditions for local and foreign businesses to operate efficiently in the country.
He expected that the forum would focus on in-depth discussions on Vietnam’s future socio-economic development and international integration policies as well as investment cooperation opportunities, especially in such areas as agricultural production, sustainable energy, digital transformation.
He also asked the forum to make recommendations, especially those related to institutional and policy completion in order to make Vietnam’s investment environment more attractive to foreign businesses, including Francophone firms.
The forum was held within the framework of the ongoing visit to Vietnam by OIF Secretary General Louise Mushikiwabo.
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