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COVER STORY

A NEW WAY

FORWARD

Leaders of ministries, localities, and business associations
discuss sustainability and the green economy in the post-pandemic world.

Though facing many difficulties and munity, and local people, Thanh Hoa province and perfecting planning, mechanisms, and
challenges from natural disasters and continued to post exciting achievements. policies related to FDI attraction, and on
the pandemic last year, especially the global Growth in gross regional domestic product ensuring compliance with existing legal reg-
consequences of Covid-19, with the effort of (GRDP) reached 8.85 per cent, ranking it ulations and the province’s development
the entire political system, business com- fifth out of Vietnam’s 63 cities and provinces. strategy. We will focus on directing relevant
More than 20,000 businesses are oper- authorities to quickly and decisively resolve
ating in Thanh Hoa, and more than 2,300 difficulties and problems facing enterprises.
investment projects have been licensed, with Thanh Hoa province also expects that
total registered investment capital of about South Korean investors and businesses will
VND650 trillion ($28.8 billion). This includes accelerate the implementation of projects
140 FDI projects from 20 countries and that have been decided on and an MoU
territories, with total capital of more than signed; use allocated land economically and
$14.6 billion; the eighth-highest in the coun- efficiently; and promote technological inno-
try in terms of FDI attraction. vation in order to increase productivity,
Believing that “The success of enterprises lower costs, improve product competitiveness,
is also the success of the province”, Thanh and fully exploit domestic and export mar-
Hoa is committed to accompanying and kets. We will also focus on the lives of
being a reliable and long-term partner of employees, ensuring that their legitimate
MR. DO MINH TUAN, enterprises, creating the most favorable con- rights and interests are met so that businesses
Chairman of the Thanh Hoa Provincial ditions for investors to operate at the greatest and the province can continue to develop
People’s Committee efficiency. Thanh Hoa will focus on reviewing sustainably. %

After two years of pandemic, now is Identifying the opportunities, the Min- the following three measures will continue
the time we start to reopen, so efforts istry of Foreign Affairs (MoFA) will continue to be implemented in the future.
are needed to promote international to implement a policy of building economic Firstly, together with ministries,
exchanges and cooperation to reverse the diplomacy for development, taking people branches, and localities, build and imple-
stagnation. We are witnessing a huge and businesses as the center. Accordingly, ment connection activities between busi-
change in the regional and international nesses and localities with foreign partners
economic environment, especially the and leading economic and trade partners
process of restructuring supply chains of Vietnam. Secondly, follow the new ori-
towards a more sustainable and stable entation of the Party, State, and government
way. This opens up major opportunities on promoting sustainable development
for Vietnam as a new investment attraction and inclusive creativity, and on that basis
and manufacturing location in the region reorient fields of cooperation between
and the world. Vietnam must take advan- countries and partners with localities and
tage of this opportunity with its available businesses in Vietnam. That is not only
advantages and recovery process. recovery but also green, sustainable, and
It currently has a selection and priority comprehensive recovery, creating extensive
process to attract projects that meet three benefits for all of society. Thirdly, recognize
important criteria: possess high technology, that transition to a green and sustainable
innovation, and research and development; economy is not easy, because our capacity
are pervasive, committed to cooperation, and qualifications are still limited compared
and have favorable conditions for Vietnamese to the world. At the local level, not all
enterprises to participate in the value chain; localities are ready in terms of infrastruc-
and promote the digital economy and make MR. NGUYEN MINH VU ture, technology, and human resources to
positive contributions to the country’s sus- Permanent Deputy Minister of Foreign Affairs immediately participate in the transfor-
tainable socio-economic development. mation process. %

16 | VIETNAM ECONOMIC TIMES | APRIL 2022 www.en.vneconomy.vn