Day: June 29, 2023

Prime Minister Pham Minh Chinh on June 29 received a delegation of the International Monetary Fund (IMF) headed by Sanjaya Panth, Deputy Director of the IMF’s Asia and Pacific Department, who are on a working trip in Vietnam for Article IV consultation.

Expressing his satisfaction with the results of the cooperation between Vietnam and the IMF, PM Chinh stated that the Vietnamese Government always listens to and highly values the evaluation opinions and policy advice from the IMF. The report by the Article IV consultation team is one of the important sources of input information for the making and implementation of policies by the government, ministries and sectors.

The IMF’s consultation and policy dialogue activities have supported the Vietnamese government in formulating stable and effective socio-economic development policies, especially during the COVID-19 crisis and the current global instability, PM Chinh said.

The IMF delegation congratulated the country on its positive economic and social achievements, particularly after the pandemic.

They noted that global growth prospects are relatively weak, but the Asian region, including Vietnam, sees more favourable ones and can serve as a global growth driver. The Vietnamese economy is expected to grow better in the last months of 2023 and this growth momentum is likely to be sustained and bolstered in the coming years.

The government leader expressed the desire for the IMF to continue providing competent Vietnamese agencies with training programmes and technical support in economic, financial, and monetary management, and statistics.

He proposed that the team and IMF Resident Representative Office in Vietnam further enhance policy advisory activities for the Vietnamese government and agencies. The PM also expressed his hope and confidence that the already good relationship between the sides will be increasingly consolidated and strengthened and that the IMF will continue to accompany Vietnam in its future development process.

Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board./.

Source: Vietnam News Agency

Vice Chairman of the People’s Committee of Ho Chi Minh City Duong Anh Duc received Jonathan Law, executive director of Australia’s Commonwealth Scientific and Industrial Research Organisation (CSIRO), in the southern metropolis on June 29, to discuss orientations for promoting cooperation between the two sides.

Duc took the occasion to acknowledge the remarkable progress of the Vietnam – Australia relations across fields, including politics, defence, security, investment, trade, culture, education, science, and technology.

Recognising the role of CSIRO, he proposed that the city and organisation step up cooperation regarding open innovative startup models and the connection of their startup ecosystems; and share experiences in developing the triple helix model of innovation (Public-Private-Academia).

The official also suggested that the two sides implement strategies to commercialise research outcomes from universities, policies, and strategic models to attract the private sector’s participation in developing the innovative startup ecosystem.

Speaking highly of these suggestions, Law said the Australian national science organisation has experience and strengths in developing the triple helix model as well as in turning scientific research from universities and research institutes into commercial products for daily life. CSIRO is ready to share such experiences with HCM City, he affirmed.

CSIRO is willing to join the city’s innovation and digital transformation week (WHISE) at the end of this year and looks forward to exchanging knowledge and experiences in technology development and innovation with the southern economic hub of Vietnam, he said.

CSIRO has a close relationship with Vietnam, with the sides collaborating on projects in the fields of aquaculture, space science, and future technology. The organisation is one of the sponsors and managers of the Aus4Innovation programme, which has been implemented in Vietnam since 2018./.

Source: Vietnam News Agency

Veeramalla Anjaiah, a senior research fellow at the Centre for Southeast Asian Studies (CSEAS) and senior journalist based in Jakarta, has commended Vietnam’s “bamboo diplomacy” for its contributions to national achievements.

In a recent article titled “New impetus for strategic ties between Vietnam and Indonesia”, Anjaiah held that with the policy, Vietnam has succeeded in maintaining its relations with powers while ensuring its national interests.

The term “bamboo diplomacy” was coined by Party General Secretary Nguyen Phu Trong during a diplomatic conference in 2016 and reiterated at the first national conference on foreign affairs in 2021. During these meetings, the leader likened Vietnam’s foreign policy to bamboo, with strong roots, solid stems, and flexible branches.

The bamboo tree holds a significant place in Vietnamese history, culture, and daily life, symbolising strength, flexibility, and resilience, the article said.

Vietnam’s determination to pursue a foreign policy that draws on these characteristics, known as “bamboo diplomacy”, is seen as a pragmatic response to the challenges facing the country in a rapidly changing world.

Anjaiah described “bamboo diplomacy” as a way selected by Vietnam to promote its culture, identities as well as diplomatic ties with strategic and comprehensive partners.

He also called the country a rising star of the Indo-Pacific region and a strategic nation in Southeast Asia, with great diplomatic impacts.

Vietnam is an active and responsible member of more than 70 important international organisations and forums such as the United Nations, the Association of Southeast Asian Nations (ASEAN), the Asia-Pacific Economic Cooperation (APEC), the Asia-Europe Meeting (ASEM), and the World Trade Organisation (WTO), the article noted.

From a centrally planned economy and an isolated country under embargo, Vietnam today has become a socialist-oriented market economy enjoying an immense breadth and depth of economic connectivity, having acceded to 15 Free Trade Agreements (FTAs), including three new-generation FTAs of very high standards, and participating in an extensive network of economic linkages with major economies in the world.

While Vietnam only had economic and trade ties with some 30 countries and territories 30 years ago, the number today is 230. Total foreign trade turnover this year is about 600 billion USD, about 120 times the figure of the early years of Doi Moi (Renewal).

Regarding the Vietnam-Indonesia relationship, Anjaiah said it dates back even before 1945. Both countries not only shared the hardship and determination to win in the struggles for their national independence, but they have also been supporting each other to improve their citizens’ well-being.

Indonesia was also the first Southeast Asian nation to set up diplomatic ties with Vietnam.

Since being established on December 30, 1955, the bilateral relations and multifaceted cooperation between the two countries have been nurtured and developed by generations of leaders and people of the two countries. President Ho Chi Minh came to Indonesia on a 10-day trip in February 1959.

In 2013, the Indonesia-Vietnam relationship was advanced into a Strategic Partnership.

Party General Secretary Nguyen Phu Trong held a telephone conversation with President Joko Widodo on August 25, 2022, during which the Vietnamese leader proposed that both countries heighten party-to-party relations and enhance mutual understanding and political trust through high-level meetings.

In May 2023, Prime Minister Pham Minh Chinh also visited Indonesia’s Labuan Bajoto attend the 42nd ASEAN Summit.

During their bilateral meeting on the sidelines of the summit, PM Chinh and President Joko Widodo agreed to further bring into play their traditional, close-knit friendship to create momentum for the strategic partnership to reach a new height.

At the end of his article, the journalist said hrough its bamboo diplomacy and economic potential, Vietnam must ensure sufficient flexibility, resilience, and adaptability to maintain its strategic autonomy, good partnerships, and sound relations with all nations. Its relationship with Indonesia is expected to grow to even greater heights in upcoming years./.

Source: Vietnam News Agency