Party and State leader meets outstanding Mongolian economic organizations

The meeting was co-hosted by the Vietnamese Ministry of Industry and Trade, the Mongolian Ministry of Foreign Affairs, the Mongolian National Chamber of Commerce and Industry, the Vietnamese Embassy in Mongolia, and relevant agencies from both nations

Participants were representatives from the Food Revolution initiative and leaders of 10 exporters and importers specialising in food, beverages, household products, consumer goods, energy, mining, transportation, logistics, tourism, education, labor, agriculture, and banking services.

In his address, the top Vietnamese leader highlighted Vietnam as one of the world's 40 largest economies and among the top 20 economies with the highest trade volumes. It ranks 32nd among the 100 countries with the strongest national brands.

Over the past seven decades since the establishment of diplomatic ties, the traditional friendship between Vietnam and Mongolia has been growing, with regular exchanges of all-level delegations, stronger mutual understanding and trust, and last year’s two-way trade surpassing US$120 million, giving greater for further growth.

He emphasized that Vietnam will fully tap internal strengths and proactively integrate into the global economy, with a particular focus on digital economy transformation, green growth, science and technology development, and innovation to join the global supply chain more effectively.

The nation is designed to increase investment in strategic infrastructure and key projects that have a rapid impact on the economy. The country will also fast-track the restructuring process, improve internal capacity and economic self-reliance, while offering all possible support to businesses.

Vietnam is striving to become a developing country with modern industry and upper-middle-income by 2030 and a high-income, developed nation by 2045. Meanwhile, Mongolia is focusing on its "New Revival Policy" and strategic goals under its "Vision 2050," with a view to strengthening the its international role and status. These show the similarities in goals and cooperation interests between the two nations.

Lam affirmed that ample room and opportunities remain for Vietnam and Mongolia to grow further and join the Fourth Industrial Revolution, global digital economy transformation, and green growth with renewable energy, new energy, bio-technology, and information-technology.

All of the collaboration is aimed at propelling the relations between the two nations forward, for the sake of their people, as well as for peace, stability, prosperity, and development in the region and the world, he said.

Host Deputy Prime Minister Dorjkhand Togmid noted with pleasure cooperation outcomes between the two countries, particularly orientations worked out during the state visit by Party General Secretary and State President To Lam.

He said the event offers an opportunity for Mongolian firms to show their aspirations to the top Vietnamese leader, thus seeking ways to enhance the bilateral trade and investment ties.

Representatives of Mongolian economic organisations put forth proposals to step up cooperation between the two countries and expand their trade and investment ties, and compared notes on opportunities and challenges in this regard.

Lam emphasized that the Vietnamese State and Government always welcome Mongolian enterprises to expand cooperation in Vietnam, adding Vietnamese ministries and agencies stand ready to support foreign businesses, including those from Mongolia.

He suggested competent agencies from both nations go ahead with their close coordination to facilitate market access for agricultural products, particularly cattle breeding, as well as sectors such as mining, construction, logistics, digital transformation, and green and clean energy.

This is also the final activity of General Secretary and President To Lam during his State visit to Mongolia. Lam and his delegation are scheduled to arrive in Dublin on October 2, starting a State visit to Ireland.