In her remarks at the United Nations Conference on Trade and Development (UNCTAD) roundtable on October 21, Deputy Minister of Foreign Affairs Nguyen Minh Hang emphasised that the world is undergoing profound economic, technological, and geopolitical changes. The global trade environment has become increasingly fragmented and unpredictable, severely affecting developing countries.

Against this backdrop, she said, Vietnam’s economy has shown strong resilience, maintaining a projected growth rate of approximately 8%, one of the highest in the region and globally.

The country is currently making efforts to carry on institutional reforms, improve the legal system, foster private sector development, accelerate scientific and technological innovation, digital transformation, and deepen international integration. These efforts aim to strengthen the economy’s capacity to adapt to external shocks and promote sustainable development.

To support the global community’s collective effort towards an inclusive, sustainable, and resilient economic transformation with trade as a central driver, Deputy Minister Hang put forward three key policy recommendations. She emphasised the need to strengthen global cooperation and comprehensively reform international trade and financial institutions to make them more open, fair, and inclusive, ensuring these reforms reflect the voices of developing countries and adapt to the profound changes in the global landscape.

In addition, she underscored the importance of enhancing the self-reliance capacity of developing countries by providing financial and technological support, promoting gender equality, and expanding the participation of small and medium-sized enterprises (SMEs) in global value chains.

Furthermore, she advocated for promoting a dual transition focused on the green economy and digital economy, leveraging trade and investment to drive emission reductions, circular economy practices, and innovation, while ensuring that sustainability standards remain inclusive and do not become barriers for developing nations.

On the sidelines of the UNCTAD 16 roundtable, Deputy Minister Nguyen Minh Hang engaged in bilateral meetings with officials from Oman, Bhutan, Switzerland, the Netherlands, as well as representatives from the World Economic Forum and the Swiss Innovation Park. These discussions centered on deepening cooperation in areas such as trade, investment, innovation, green finance, digital transformation, and climate change adaptation.

Vietnam’s impressive economic progress and commitment to addressing global challenges like climate change and sustainable development were acknowledged and praised by international partners. The country’s proactive role in international cooperation, including supporting innovation and science and technology, was recognised as a valuable contribution toward inclusive global growth.

Hang voiced Vietnam’s commitment to strengthening bilateral relationships and requested continued support, particularly in digital transformation, scientific research, and climate resilience.

Meeting with State Secretary for Foreign Affairs Alexandre Fasel, Deputy Minister Hang called on Switzerland to continue supporting Vietnam’s new development phase, especially in the fields of education, innovation, science and technology, and the establishment of an international financial centre in Ho Chi Minh City and Da Nang – the field where Switzerland has strong expertise.

In discussions with Oman’s Minister of Commerce, Industry, and Investment Promotion Qais Bin Mohammed Al Yousef, Deputy Minister Hang spoke of Vietnam’s active implementation of previous political consultations and urged Oman to increase investment, support the launch of FTA negotiations between Vietnam and the Gulf Cooperation Council (GCC), and cooperate on establishing a joint economic committee soon.

During talks with Bhutan’s Minister of Industry, Commerce, and Employment Namgyal Dorji, both sides agreed to boost trade, tourism cooperation, cultural exchanges, and people-to-people contacts, building on significant results from the Bhutanese King and Queen’s visit to Vietnam in August 2025.

In a meeting with Steven Collet, Deputy Director-General of International Cooperation at the Ministry of Foreign Affairs of the Netherlands, Deputy Minister Hang proposed deepening bilateral relations for more practical and effective cooperation. She also requested the Netherlands’ prompt ratification of the EU-Vietnam Investment Protection Agreement (EVIPA), and urged support for the EU to lift its ‘yellow card’ against Vietnam.

Meeting with Stephan Mergenthaler, Managing Director at the World Economic Forum, Deputy Minister Hang expressed appreciation for the World Economic Forum’s cooperation in preparing the Autumn Economic Forum scheduled in Ho Chi Minh City from November 25-27, 2025. She called for continued support to promote economic development based on science, technology, innovation, private sector growth, smart manufacturing, and attraction of high-quality investment.

Four pillars to drive Vietnam’s foreign trade amid global transformation

VOV.VN - The Vietnam International Trade Report 2025, released by the Foreign Trade University (FTU) on October 10 in Hanoi, identifies four new strategic growth drivers to help Vietnam sustain integration momentum, elevate its position, and ensure sustainable development in the new era.