Deputy Prime Minister Le Thanh Long led a Vietnamese delegation to attend the official opening ceremony of the 28th St. Petersburg International Economic Forum (SPIEF) themed "Common Values - The Foundation of Growth in a Multipolar World" on June 19 in Saint Petersburg, Russia.

The event brought together a large number of delegates from more than 140 countries and territories nationwide.

Deputy Prime Minister Le Thanh Long was one of the keynote speakers at the opening session, alongside Russian Deputy Prime Minister Alexander Novak; Saudi Arabia’s Minister of Energy, Prince Abdulaziz bin Salman Al Saud; President of the New Development Bank Dilma Rousseff; and Secretary General of the Organization of the Black Sea Economic Cooperation (BSEC) Lazar Comanescu.

Held in the format of an open discussion, the session featured in-depth, substantive exchanges on the Forum’s main theme and emerging global challenges.

In his remarks, Deputy PM Long hailed SPIEF as a major platform for new ideas and a leading regional and global forum for policy dialogue. He stressed that to overcome today’s global challenges and achieve inclusive, sustainable development, countries must uphold shared values, namely trust, sincerity, and solidarity among nations and peoples; a spirit of cooperation and responsible conduct; and respect for international law and the UN Charter. People, he affirmed, must remain the center, goal, driving force, and subject of all policies.

On that note, he called for greater diffusion of advances in science, technology, innovation, and digital transformation to fuel new growth drivers, while also stepping up efforts to reform global governance institutions.

Deputy PM Long also expressed appreciation for President Vladimir Putin’s “Greater Eurasian Partnership” initiative and affirmed Vietnam’s readiness to serve as a bridge for cooperation between the Eurasian Economic Union and the Association of Southeast Asian Nations (ASEAN).

Touching on current global issues such as tariffs and armed conflict, Deputy PM Long outlined Vietnam’s views and policy stance.

Regarding global tariff policies, he cautioned that if retaliatory measures continue to escalate, they will profoundly affect the multilateral trading system and global economic growth-impacts that remain difficult to quantify. As a highly open economy, Vietnam is particularly sensitive to global trade fluctuations and changes in countries’ tariff policies, with risks including reduced exports, disrupted foreign direct investment (FDI) flows, and heightened macroeconomic pressure.

The Deputy PM stressed that the consistent position of the Party, the State, and the Government of Vietnam is to remain proactive and calm, carefully assess the situation, and respond with flexible adjustments.

He noted that Vietnam was among the first countries to launch reciprocal trade negotiations with the US. So far, the two sides have completed three rounds of talks at both technical and ministerial levels and are working toward a fair, stable agreement that ensures the legitimate interests of all parties.

To adapt to an evolving global trade environment, Vietnam is carrying out a wide range of measures with a particular focus on diversifying markets, supporting businesses, and restructuring the economy.

On armed conflict, Deputy PM Long emphasized that as a nation that has experienced multiple wars, Vietnam does not want to see conflict anywhere. He called on all parties to seek appropriate solutions through dialogue and affirmed Vietnam’s readiness to contribute responsibly to a future of global peace, stability, and shared prosperity.

SPIEF 2025 features more than 150 discussion sessions, exhibitions, and policy dialogues, drawing 20,000 participants both in person and online, including many high-ranking leaders from within and outside the region. This year’s forum focuses on laying new foundations for global economic growth, with special attention to the role of developing countries in shaping the new economic order.

Key sessions spotlight the explosive development of digital technology, the role of artificial intelligence, and cybersecurity in the digital transformation era.

Russian President Vladimir Putin is scheduled to deliver a major policy speech on June 20 (local time), presenting key messages on Russia’s economy and the global economic and political situation.

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