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Vietnam’s economic diplomacy in 2024 has asserted a leading role with remarkable breakthroughs, achieving key objectives and opening up a “grand path” full of hope for fast and sustainable development.

In the final days of the year, the impact of economic diplomacy has become even more evident through cooperation agreements with global tech giants. NVIDIA, a leading company in artificial intelligence (AI), has committed to establishing an AI research and development centre and an AI data centre in Vietnam. Meanwhile, Apple has announced plans to increase investment in its supply chain, adding another crucial piece to solidify Vietnam’s position on the global technology manufacturing map. These are vivid demonstrations of Vietnam’s “technology diplomacy” approach, opening doors for its economy to enter the era of global innovation.

Economic diplomacy in Vietnam is focused not only on maintaining growth momentum but also on renewing drivers of growth, from traditional pillars such as exports and investment to new areas like the digital economy, green economy, and circular economy, as well as breakthrough sectors like high-tech, innovation, semiconductor, hydrogen, AI, and the Halal industry. Through nearly 60 diplomatic activities by the Party and State leaders and over 170 cooperation agreements throughout the year, Vietnam has connected with global partners, particularly unlocking new growth drivers from Latin America to the Middle East, Africa, and members of the Group of Seven (G7).

The working visit by To Lam, in his position as Party General Secretary and State President, to the US in September to attend the High-Level Week of the 79th session of the United Nations General Assembly, during which he meets with leaders of top global groups such as Apple, Meta, and Google lays a solid foundation for FDI attraction, technology transfer, and the development of innovative sectors (Photo: VNA)

A key highlight in 2024 was the working visit by To Lam, in his position as Party General Secretary and State President, to the US in September to attend the High-Level Week of the 79th session of the United Nations General Assembly. His meetings with leaders of top global groups such as Apple, Meta, and Google laid a solid foundation for foreign direct investment (FDI) attraction, technology transfer, and the development of innovative sectors such as AI, digital transformation, and the Internet of Things (IoT). These opportunities will promote sustainable growth for Vietnam’s economy but also lay the groundwork for the country to enter an era of comprehensive innovation and integration into global supply chains.

The visit by State President Luong Cuong to Chile and Peru in November has helped enhance economic and trade relations, particularly within the framework of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), as well as in areas like information technology, digital transformation, and smart city building.

Meanwhile, Prime Minister Pham Minh Chinh’s trip to Brazil has contributed to elevating the two countries’ relations to a strategic partnership, opening up broader cooperation opportunities. Brazil will serve as a gateway for Vietnam to access Latin American markets and the Southern Common Market (MERCOSUR), as Vietnam is negotiating a free trade agreement with this bloc.

Prime Minister Pham Minh Chinh’s visits to the United Arab Emirates (UAE), Qatar, and Saudi Arabia in October 2024 bring breakthroughs in cooperation on clean energy, green transition, and Halal industry development. (Photos: VNA)

Vietnam’s economic diplomacy has also left a bold mark in the Middle East. The Government leader’s visits to the United Arab Emirates (UAE), Qatar, and Saudi Arabia have brought breakthroughs in cooperation on clean energy, green transition, and Halal industry development. The signing of the Comprehensive Economic Partnership Agreement (CEPA) between Vietnam and the UAE is seen as a historic milestone, not only paving the way for Vietnam to enter the Middle Eastern and African markets but also serving as a solid stepping stone for bilateral strategic cooperation.