The PM reviewed significant historical milestones over the nearly 40 years of reforms in Vietnam, including an over-53-time increase in the economy’s scale and 28-time rise in per capita income. The poverty rate has decreased from 60% in the early 1990s to 2.93% in 2023. Vietnam has fulfilled Millennium Development Goals ahead of schedule, ranking high in human development among economies of similar development levels.
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Screenshot of Prime Minister Pham Minh Chinh's interview granted to Romanian media |
He went on to say that the country ranks high in human development among economies of similar development levels, and plays a crucial role in global and regional supply chains, being one of the world's 20 largest economies with a network of 16 signed FTAs and 3 FTAs under negotiation.
PM Chinh noted that despite global complexities in recent years, Vietnam has maintained a stable macroeconomic foundation, controlled inflation, promoted economic growth, ensured major economic balances, and kept state budget, public debt, and foreign debt below regulated limits. In 2023, key indicators such as CPI, GDP growth, trade surplus, and FDI attraction demonstrated robust performance, particularly in the agriculture sector, contributing significantly to both domestic food security and global supply.
According to him, those significant achievements are attributed to various factors and practical experiences, among which there are five outstanding lessons.
First of all is the firm commitment to national independence and socialism, which is a fundamental principle aligned with Vietnam's revolutionary path and essential in the ideological legacy of President Ho Chi Minh.
Second, the revolution is of the people, by the people, and for the people, with the people placed at the center and considered the subject, the driving force, the goal, and the most important resource for development.
Third is the lesson of constant consolidation and strengthening of unity: unity within the Party, unity within the people, unity among ethnic groups, and international unity. Unity is also a fundamental factor in garnering support and assistance from progressive forces worldwide for democracy, progress, and peace.
Fourth is the need to combine the strength of the nation with the strength of the times, domestic strength with international strength.
Fifth, the sound leadership by the Party is the foremost factor determining the success of the Vietnamese revolution.
Asked about how Vietnam manages to harmonise communist ideals with certain principles of a market economy, the PM said the significant achievements in developing a socialist-oriented market economy in line with the communist ideals in Vietnam in recent years are primarily thanks to a solid grasp of Marxist-Leninist principles, the ideology of Ho Chi Minh, the innovative application of them to Vietnam's specific conditions, and the embodiment of a patriotic spirit rooted in the country's cultural and historical traditions.
He stressed that Vietnam's socialist-oriented market economy is characterised by modern market principles, international integration, and efficient operation following the laws of the market economy. It is managed by the socialist law-governed state, led by the Communist Party of Vietnam, ensuring a socialist orientation for the goal of a prosperous, strong, democratic, just, and civilized country.
The PM said this economy features diverse forms of ownership, with the state sector playing a leading role, continuous consolidation and development of collective and cooperative economies, and a significant contribution from the private sector as a crucial driving force. Encouraging and developing foreign direct investment (FDI) is part of the strategy, evident in Vietnam attracting 36.6 billion USD in FDI in 2023, a more than 32% increase compared to 2022, even amidst challenging global conditions. Such success demonstrates Vietnam's attractiveness to the international business community and foreign investors, he said.
PM Chinh explained that in the socialist-oriented market economy, the state manages through policies, laws, strategies, and planning, utilizing market mechanisms, market tools, and the laws of value, supply and demand, and competition. The state regulates these factors harmoniously, effectively releasing production potential and mobilizing and utilizing resources efficiently. The state issues and effectively enforces a legal system, mechanisms, and policies to create a transparent, fair legal environment conducive to the development of economic components and economic entities. The State regulation is aimed at achieving development goals in each period, connecting economic development with the realization of social progress and justice, and addressing market mechanism shortcomings, ensuring a balanced benefit, creating a favorable environment and conditions for rapid and sustainable development.
Regarding the most important decisions made by the 13th National Congress of the Communist Party of Vietnam, especially the short-term and medium-term development goals of Vietnam, PM Chinh stressed that the 13th Party Congress clearly defined the goal of striving for Vietnam to become a developing country with modern industry by 2025, surpassing the low average income level; By 2030, it will be a developing country with modern industry and upper middle income, and by 2045 it will be a developed country with high income.
He said to achieve the above strategic goals, Vietnam focuses on building the foundational elements for rapid, sustainable development - that is socialist democracy, the socialist rule of law state and the socialist-oriented market economy.
The country is promoting the implementation of three strategic breakthroughs on institutional improvement, human resource development and building a synchronous and modern infrastructure system.
Vietnam is building an independent and self-reliant economy associated with active and pro-active international economic integration, and at the same time, focuses on implementing major policies and guidelines in all fields in the short, medium and long term.
The Vietnamese Government leader highlighted the country’s diplomatic achievements, saying that guided by the spirit of "putting aside the past, respecting differences, promoting commonalities, looking to the future," Vietnam has orchestrated a transformative journey—turning erstwhile adversaries into steadfast allies, replacing confrontation with constructive dialogue, and evolving into a beacon of healing and progress.
Vietnam now boasts diplomatic ties with 193 countries worldwide. Within its circle of 30 strategic and comprehensive partners, five are permanent members of the U.N. Security Council, seven belong to the G7, and 16 align with the G20—a testament to Vietnam's global resonance, he said.
The PM attributed this success to a foreign policy deeply rooted in practicality, inheriting and advancing Marxism-Leninism and Ho Chi Minh's diplomatic legacy. Embodied in the metaphor of "Vietnamese bamboo: solid roots, strong trunk, flexible branches," this diplomatic identity reflects Vietnam's unwavering commitment to self-reliance, national benefit, and a spirit of solidarity, kindness, and loyalty.
This foreign policy, marked by independence, self-reliance, peace, friendship, cooperation, development, diversification, multilateralization, initiative, and active integration, is implemented with solidity, flexibility, and adaptability across all facets of governance. Vietnam's dynamic approach, combined with achievements in socio-economic development and an unyielding commitment to the "four no's" defense policy, has elevated the nation's international standing.
As the regional and global landscape continues its unpredictable evolution, marked by unprecedented challenges, Vietnam's foreign affairs confront new difficulties. Yet, with a shared wish to collaborate with other nations and the international community, Vietnam stands ready to pro-actively, positively, and effectively contribute to preserving a peaceful, stable, and conducive environment for rapid and sustainable development, the PM said.
Regarding the Vietnam-Romania ties, PM Chinh said Vietnam and Romania share a longstanding and robust traditional friendship and cooperative relationship, which has been flourishing for almost 75 years. He noted that Romania is one of the earliest nations to formally recognize Vietnam, extending invaluable support and assistance during Vietnam's fight to reclaim national independence and reunification, as well as its ongoing journey towards nation-building and development.
He underlined that approximately 4,000 Vietnamese officials and experts have been trained with the help of Romania, constituting a significant intellectual asset crucial for the country's progress and prosperity.
The PM also highlighted that Romania has played an active role in assisting Vietnam with the E.U. Free Trade Agreement negotiations, leading to the ratification and implementation of the Vietnam - E.U. Free Trade Agreement (EVFTA). Moreover, Romania was among the pioneering E.U. members to endorse the E.U. - Vietnam Investment Protection Agreement (EVIPA), showcasing its support for enhanced economic integration between Vietnam and the European Union. During the height of the Covid-19 pandemic, when global health was in peril, Romania distinguished itself as the first E.U. country to provide vaccine aid to Vietnam.
Vietnam holds in high regard and is deeply thankful for the timely, generous, and heartfelt aid extended by the Romanian government and its people, PM Chinh said.
He praised Romania’s notable socio-economic advancements in recent times, particularly its persistent economic growth despite global uncertainties, consistently ranking among the upper echelons within the E.U.
PM Chinh noted that in tandem with Romania's achievements, the bilateral relationship with Vietnam is witnessing substantial progress across multiple sectors. Trade exchanges have solidified, with two-way turnover nearly doubling from 261 million USD in 2019 to 425 million USD by 2022. Additionally, both nations have inked an Education Cooperation Program for the period of 2023 - 2026, deepening their collaborative efforts in the field of education. People-to-people exchanges are increasingly robust as more Romanian tourists explore Vietnam.
The PM affirmed that with significant opportunities for collaboration and ample potential within the framework of the established and cordial traditional ties between the two countries, Vietnam aspires to enhance its cooperative relationship with Romania. Vietnam wants to fortify political trust by increasing the exchange of delegations at all levels and through every channel; intensify participation in multilateral and regional forums; and create new milestones in trade and investment, solidifying them as cornerstones of the bilateral relations.
He went on to say that Vietnam is keen to advance collaboration in sectors where Romania possesses expertise and Vietnam has potential, including education, culture, civil society, labor, and the burgeoning spheres of digital economics, green and circular economies, science and technology, artificial intelligence, and emergent industries.
He also called for the Romanian Government's continued support in safeguarding the legitimate rights of Vietnamese workers in Romania, facilitating conditions conducive to the Vietnamese community's integration and stable long-term business pursuits, and enhancing their role as a conduit between the two nations.
The PM also shared memories of the time he studied in Romania and worked at the Vietnamese Embassy in Bucharest. He said he believes that this visit will serve as an impetus for further enrichment, deepening, and practical advancement of the amicable ties between the two countries. Such enhancement serves not just the two peoples, but also fosters peace, collaboration, and progress on a regional and global scale, he said.
Source: VNA